Camille purchased a bond 5 years ago for $1,050. The bond paid $50 in annual interest and returned the $1,000 principal at the end of the fifth year. Camille used the interest payment to pay for college textbooks
A) Her internal rate of return was exactly than 5%.
B) Her internal rate of return was greater than 5%.
C) Her internal rate of return was less than 5%.
D) Her internal rate of return cannot be determined.
Answer: C
Business
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If a lender releases an original borrower from his liability for a mortgage, the substitution must be evidenced by an agreement called a/an:
a. Acceleration clause b. Power of sale clause c. Satisfaction piece d. Novation
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A real estate licensee has a practice that when he is approached by members of minority groups who want to be shown property, he avoids showing them property in integrated areas. This would be an example of:
A: Redlining; B: Blockbusting; C: Steering; D: Proper conduct.
Business