Fact Pattern 21-1

question 61

Multiple Choice

Fact Pattern 21-1
Mary's home is in a state that has a $30,000 homestead exemption. Mary defaults on a $60,000 debt that she owes to Nina. Mary's home is sold at auction for $80,000.
-Refer to Fact Pattern 21-1. If Nina recovers less than she is owed, she can realize the difference from

• A) any property that Mary owns.
• B) only exempt property that Mary owns.
• C) only nonexempt property that Mary owns.
• D) property that any other member of Mary's family owns.

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Definitions:

Net Present Value

The variance between the net present value of incoming cash and outgoing cash within a set timeframe.

Net Cash Flows

The amount of cash generated or used by a business during a given period, calculated as cash received minus cash spent.

Desired Rate

The target interest rate set by a company or investor for a specific investment or project.

Internal Rate

Often referred to as Internal Rate of Return (IRR), it's a metric used in financial analysis to estimate the profitability of potential investments.