An Appraisal Is Defined As

question 5

Multiple Choice

An appraisal is defined as:

• A) market price
• B) an estimate of value
• C) maximum security for a loan
• D) actual resale price

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Definitions:

Compounded Continuously

The process of calculating interest in which the earnings are reinvested and earn additional interest continuously over time.

Rule Of 72s

A shortcut to estimate the number of years required to double the invested money at a given annual rate of return.

Compounds Interest Annually

The calculation of interest on the initial principal, which also includes all accumulated interest from previous periods on a loan or deposit, done once a year.

Checking Account

A bank account that allows for the deposit and withdrawal of funds and is typically used for day-to-day transactions.