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Elan Coil [88]
4 years ago
13

What law says that borrowers must receive a good faith estimate of the closing costs within three business days of the loan appl

ication?
Business
1 answer:
Dmitry_Shevchenko [17]4 years ago
5 0

The answer is the Real Estate Settlement Procedures Act or RESPA. This act was intended to defend possible property holders and allow them to become more intelligent consumers. RESPA necessitates that creditors provide bigger amounts of information to potential borrowers at certain points in the loan settlement process. It also forbids the innumerable parties involved from paying kickbacks to each other.

You might be interested in
When quantity demanded exceeds quantity supplied at the current market price, the market has a shortage, and market price will l
Alik [6]
True.

However, the question should be clear it is a free market where market forces rule, therefore a shortage will cause some consumers to be willing to pay higher prices and producers will see benefit and revenue, thus producing more and resolving the shortage.
8 0
3 years ago
Molly wants to start a new business in collaboration with her husband and sister-in-law. the features she is looking for in the
Damm [24]

The type of business ownership is best suited to her needs limited partnership. Thus option (C) is correct.

<h3>What is Partnership Business?</h3>

A partnership business consists of two or more individuals who pool their resources to create a company and agree to split the risks, rewards, and losses.

Law firms, medical groups, real estate investment firms, and accountancy groups are examples of common partnership businesses.

According to the above, scenario, Molly with her husband and the sister-in- law as partners wanted to start a business. She wants faster decision making, least regulation and ease in doing business.

All the requirement of her matches with the limited partnership type of the business where the liability of all the partners are limited to their amount of investment.

Thus option (C) is correct.

Learn more about partnership here:

brainly.com/question/12983082

#SPJ1

7 0
2 years ago
A firm just paid its annual dividend of $1.80 and expects to increase that dividend each year. The discount rate is 11 percent.
Digiron [165]

Answer:

d. Po = $1.80/(0.11 -0.025); The value of D1, is incorrect as $1.80 equals Do.

Explanation:

Calculation to correctly identifies which one of these is an error when computing the current value of this firm's stock

P0 = $1.80/(0.11 - 0.025)

P0 = $1.80/0.085

P0=$9.76

Therefore Based on the information given Po = $1.80/(0.11 -0.025); because The value of D1, is INCORRECT as $1.80 equals Do.

8 0
3 years ago
In 2005, Anthara Inc. acquired Sathya Inc. for $1,200 million when the fair value of net assets (assets minus liabilities) of Sa
tatiyna

Answer:

$20 million

Explanation:

Data provided in the question:

Book value of assets in 2005 = $1,200 million

Fair value of assets in 2005 = $955 million

Book value of assets in 2006 = $720 million

Fair value of assets in 2006 = $700 million

Now,

Impairment Loss = Fair value - Carrying value of Net assets

or

Impairment Loss

= Fair value of assets in 2006 - book value of assets in 2006

= $700 million - $720 million

= - $20 million                [ Here, the negative sign means a loss]

Hence,

Impairment loss of $20 million

6 0
3 years ago
You would like to establish a trust fund to provide $150,000 a year forever for your heirs. The expected rate of return is 4.3 p
inn [45]

Answer:

$3,488,372.09

Explanation:

Data provided in the question

Annual income provided per year = $150,000

Expected rate of return = 4.3%

So by considering the above information, the amount of money deposited today is

= Annual income provided per year ÷ Expected rate of return

= $150,000  4.3%

= $3,488,372.09

By dividing the annual income by the expected rate of return we can get the today deposited amount

6 0
4 years ago
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