A mortgage that covers several parcels of land and contains a provision that allows for the sale of an individual parcel with clear title is called:
a. An amortized mortgage
b. A declining balance mortgage
c. A blanket mortgage
d. A wraparound mortgage
Ans: c. A blanket mortgage
Business
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Indicate whether the statement is true or false
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Write the appropriate constraint for the following condition: Choose no fewer than 3 projects
Consider a capital budgeting example with five projects from which to select. Let x1 = 1 if project a is selected, 0 if not, for a = 1, 2, 3, 4, 5. Projects cost $100, $200, $150, $75, and $300, respectively. The budget is $450.
Business