Homes in "Crystal Waters" subdivision have appreciated 5% per year for 6 consecutive years. Lily, a real estatelicensee, had a buyer purchase a home from her in this subdivision for $200,000. Lily told her buyer that shecould guarantee that the home would be worth at least $225,000 in five years from the purchase date:O Lily's statement of future value is acceptable since she had sufficient data to support itO Lily's statement is considered "puffery" and would not constitute any type of violationO Lily's statement of guaranty would possibly fall under the Oklahoma Real Estate Commission's"reasons for revocation or suspension"O Lily's statement may be contrary to acceptable standards of practice and conduct but would not bea potential conflict with any rules of the Oklahoma Real Estate Commission

There are 15 incompetence practices of real estate that could lead to possible revocation or…

Homes in "Crystal Waters" subdivision have appreciated 5% per year for 6 consecutive years. Lily, a real estate licensee, had a buyer purchase a home from her in this subdivision for $200,000. Lily told her buyer that she could guarantee that the home would be worth at least $225,000 in five years from the purchase date:

Homes in "Crystal Waters" subdivision have appreciated 5% per year for 6 consecutive years. Lily, a real estate licensee, had a buyer purchase a home from her in this subdivision for $200,000. Lily told her buyer that she could guarantee that the home would be worth at least $225,000 in five years from the purchase date:

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Peter and Amy Chambers have saved $4,500. They are accumulating funds for a down payment on a house. If they can invest these funds at 3% annual interest for 5 years, how much money will they have accumulated at the end of this five-year time-frame?
Jenelle bought a home for $370,000, paying 18% as a down payment, and financing the rest at 4.6% interest for 30 years. Round your answers to the nearest cent. How much money did Jenelle pay as a down payment? $ What was the original amount financed? $ What is her monthly payment? $ If Jenelle makes these payments every month for thirty years, determine the total amount of money she will spend on this home. Include the down payment in your answer. $
Claudia owns a 6 year old jeep . She wants to determine the Future Worth of the maintenance and repair bills over the next 4 years she expects to drive the vehicle . She brings her vehicle in for maintenance four times per year and expects the first visit (after 3 months = 1 visit) to cost $ 300 with an increase of $ 50 with each subsequent visit . If we assume quarterly compounding , and a nominal interest rate of 12 % , what is the future value of the repair costs ? Round your answer to the nearest dollar .
Marsha Terban bought a home for $110,000 with a down payment of $10,000. Her rate of interest is 9 1/2 percent for 15 years. Compute an amortization schedule for the first 3 months of the loan.
None
alan bought a home in Fremont, California $230,000. he put down 20 % and obtained a mortgage for 30 years at 8%. the total interest cost of the loan is.
The Dexter’s decided to purchase a new home. The purchase price of their new home was $345,990. The Dexter’s had a down payment of 20% due to the equity in their first home. They financed the rest at a fixed rate of 3.85% for 15 years. What is their monthly payment?
Five years ago, Diane secured a bank loan of $390,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 7%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 5.5%/year compounded monthly, Diane is thinking of refinancing her property. (Round your answers to the nearest cent.) (a) What is Diane's current monthly mortgage payment? (b) What is Diane's current outstanding principal? (c) If Diane decides to refinance her property by securing a 30-year home mortgage loan in the amount of the current outstanding principal at the prevailing interest rate of 5.5%/year compounded monthly, what will be her monthly mortgage payment? (d) How much less will Diane's monthly mortgage payment be if she refinances?
When Florio and Rhoda bought their home, they borrowed $200,000 for 30 years at 6%, compounded monthly. After making 120 payments of $1199 per month, they plan to refinance. They find that they can refinance at 4.5%, compounded monthly, for 15 years. There is a one-time refinancing charge of $750, added to the amount of the refinanced loan. a) Find the Payoff Amount (Unpaid Balance) of Florio and Rhoda's Original Loan. 11a)_ b) Find the amount of their new loan (amount refinanced) 11b)_ c) Find their New Monthly Payment amount for the refinanced loan. 11c). d) Find the amount they saved by refinancing...if any! 11d).
Farmer Belle grows Christmas trees which mature over 5 years, and have a maturity value of $40 per tree. Belle has 12,000 trees and applies for a loan for working capital. Wee Bank agrees to loan Belle 70% of the present value of the maturity value of the trees, with equal payments to be made, starting today, at the beginning of each of the next 4 years. The interest rate is 5%. What is the present value of the maturity value of the trees, and the total amount that can be borrowed? Assume that the amount that Belle can borrow is $262,750. How much can be withdrawn from the bank each of the 4 years given the interest rate? Note: amounts are rounded to the nearest dollar, based on table values.
A husband and wife buy a new home and take out a $100000 mortgage loan with level annual payments at the end of each year for 15 years on which the effective rate of interest is equal to 5.5%. At the end of 5 years they decide to make a major addition to the house and want to borrow an additional $70000 to finance the new construction. They also wish to lengthen the overall length of the loan by 8 years (i.e. until 23 years after the date of the original loan). In the negotiations the lender agrees to these modifications, but only if the effective interest rate for the remainder of the loan after the first 5 years s raised to 6.5%. Find the revised annual payment which would result for the remainder of the loan. ANSWER = $

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