In originating a new loan, an amortization table can be used to determine the:
A. down payment
B. interest rate
C. length of the loan term
D. monthly payment amount
Answer: D. monthly payment amount
Explanation: An amortization table lists the different monthly payment amounts that would be needed to amortize a specified loan amount at various rates of interest and with various repayment periods. (The term is also sometimes used to refer to an amortization schedule showing what portion of each payment will be applied to principal and what portion will be interest.)
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As stated in th etext, all of the following statements are effects of the rise of the Internet, except
A. Managers are now mobile and able to be connected 24 hours a day, 7 days a week. B. The Internet fulfills many business functions. C. The rate of globablization has sped up, allowing managers to see what competitors are doing worldwide. D. It eases the tensions in the work-life area because it allows managers to work from home, or even on vacation. E. The Internet spurs the innovation of new products, such as smartphones and online banking services.
If a deed is not recorded in the public record:
A. It would not be valid between the parties. B. It would still be valid between the parties. C. It would give constructive notice to the public if it were signed by both parties. D. It would still protect the grantee against claims of third party.