A Property Is Encumbered as Follows: First Mortgage,A: $250,000

question 25

Multiple Choice

A property is encumbered as follows: First mortgage,A: $250,000
Second mortgage,B: $40,000
Third mortgage,C: $10,000
How much can mortgagee B pay for the property at a foreclosure sale without having to raise additional funds?

• A)$290,000
• B)$40,000
• C)$300,000
• D)$50,000

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Definitions:

Continuous Reinforcement

A learning schedule in which every correct response is followed by a reward, facilitating rapid learning.

Scheduled Reinforcement

A strategy in behavior modification that involves delivering reinforcement according to a predetermined schedule.

Intermittent Reinforcement

A conditioning schedule in which a reward or punishment (reinforcement) is not administered every time the desired response is performed.

Intrinsic Interest

Motivation driven by an interest or enjoyment in the task itself, rather than external pressures or rewards.