Without mutual assent between the parties, there is no contract

Formula: Sales price divided $100=number of hundred dollar increments (rounded up to the next whole number) times (X) $.19=transfer tax. EXCEPTION: If the purchaser assumes the seller's existing loan the taxable amounts is the difference between the sales price and the loan assumed. What is the amount of the transfer tax to be paid if the sales price of a house is $92,560 and the new loan is $70,500?

A. $70.35. B. $70.40. C. $92.56. D. $92.60.

Simpson Conglomerates borrows $12,000 for a short-term purpose. The loan will be repaid after

120 days, with Simpson paying a total of $12,400. What is the approximate cost of credit using the APY, or annual percentage yield, calculation? A) 10.34% B) 12.46% C) 12.25% D) 4.33%