This loan is best classify as a <u>conventional mortgage loan</u>.
<h3>What is a conventional mortgage loan?</h3>
This refers to a conforming loan which simply means that it meets the requirements for Fannie Mae or Freddie Mac.
This type of mortgages have a fixed rate of interest and means that the interest rate does not change throughout the life of the loan. Also, they are not guaranteed by the federal government and as a result have stricter lending requirements by banks and creditors.
In conclusion, the entities Fannie Mae and Freddie Mac are government-sponsored enterprises that purchase mortgages from lenders and sell them to investors.
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Answer: The terms that match with this meanings are:
1. APR charge for borrowing money = <u>FINANCE CHARGE.</u>
2. Interest rate that does not change = <u>FIXED RATE.</u>
3. Closing costs fees required if loan is paid off before the end of its original term = <u>PREPAYMENT PENALTIES.</u>
4. Down payment a loan based on the value of the real estate it is used to purchase = <u>MORTGAGE.</u>
E. Objectional plan is the answer
Answer:
Capacity may be expanded or contracted as necessary without affecting fixed costs.
Explanation:
If a firm accepts a special-order, it will do so because the increased production costs will be lower than the extra revenue from the sale.
Production costs rise because special-order decisions usually involve large-volume sales at a lower price. This higher output requires the use of more inputs, and those inputs are variable costs.
For example, suppose a car factory sales on average 1,000 cars per month. The factory has the right amount of workers, and uses the right amount of energy, to produce 1,000 cars per month. The next month, a client order 5,000 cars in just one month, and the factory accepts the special-order. Variable costs energy and wages will rise.
