You are planning on starting your own business in 18 months and you intend to purchase a new home. You have looked carefully at your budget and have determined that you can afford a PITI of $900 per month
Your banker has told you that you can easily qualify for a PITI of $1,150 per month. Which of the following is the most reasonable explanation for this discrepancy?
A) Your banker knows you really would be happier in a more expensive house.
B) Your banker is not aware of your other long-term financial goals.
C) Your banker's number is more accurate than your number.
D) None of the above is a reasonable explanation.
Answer: B
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Martha gave Hannah the right to purchase her vacant lot for $65,000. Hannah paid Martha $1,200 for this right. Hannah is the :
A. mortgagor B. Mortgagee C. Optionor D. Optionee
If a company wanted to make sure an integrated approach is used in marketing communications, then the best approach would be to:
A) hire a full-service agency B) use a boutique agency C) use a media service company to buy media time, but do the creative with freelancers D) utilize different companies for each aspect of the advertising campaign