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vova2212 [387]
2 years ago
10

In 2005, a loan broker and appraiser working for a subsidiary of Bank of America appraised the Cassies home at a fair market val

ue of $620,000. Based on that appraisal and other representations by lending personnel, the Cassies elected to refinance their home with a $495,000 adjustable rate mortgage. Lending personnel told them their home would appreciate and they would be able to sell or refinance the home at a later date before having to make higher monthly loan payments. In 2010, the Cassies discovered their home was valued at $250,000. The monthly mortgage payments doubled in size. The Cassies stopped making payments on the mortgage, which had a balance due of $625,000. Soon after, the fair market value of the house was $200,000. Then, the bank foreclosed on the house and the Cassies moved in with family. The Cassies sued Bank of America for fraud. What is the result?
A. The Cassies will lose.
B. The Cassies will recover partial value of their foreclosed home.
C. The Cassies will win.
Business
1 answer:
Tomtit [17]2 years ago
3 0

Answer:

C. The Cassies will win.

Explanation:

In the given case, the cassies would win as this was appraisal fraud that done by the company employee who is a Bank of america Subsidiary. Here the loan broker and the appraiser increase the fair market value of cassies home i.e. $620,000 but it would be lesser that is $250,000. So this inflate the value in order to make the payment of high rate with related to the mortgage

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Jamie would like to identify the similarities and differences among seven different types of flowers. Jamie should use a Venn di
expeople1 [14]

Jamie cannot use the Venn diagram as the best compare and contrast graphic organizer for his project. Thus, The correct answer is False.

<h3>What is a Venn diagram?</h3>

Venn diagram is used to compare elements of the same type. This includes cross-sectional circles where you write features that do not include each element, as well as the common ones.

This type of diagram is recommended when comparing two or three elements because you need a circle or space for each element, so it is not possible to compare several elements.

Thus, it is a lie to say that Jamie should use the Venn diagram in his project, because he needs to compare seven types of flowers and this does not happen using the Venn diagram, instead he should use a chart or similar that allows him to compare multiple elements. The correct answer is False.

To learn more about the Venn diagram, refer to the link:

brainly.com/question/26090333

6 0
2 years ago
Which of the following topics would not appear in a company policy handbook?
icang [17]
A. online job sites 
because most company handbooks have performance reviews, medical ad family leave and standards of conduct. 
8 0
2 years ago
Read 2 more answers
2.A company began 2019 with retained earnings of $23.45 million. During the year, it paid four quarterly dividends of 0.25 per s
Naily [24]

Answer: $23.63 million

Explanation:

First and foremost, we can calculate the quarterly common stockholder dividend which will be:

= $0.25 × 1 Million

= $0.25 million

Then, the annual dividend to the common stockholders will be:

= $0.25 million × 4

= $1 million

The quarterly preferred stockholder dividend will be calculated as:

= $0.50 × 0.50 Million

= $0.25 million

We would then multiply $0.25 million by 4 to get the annual dividend attributable to the preferred stockholders which will be:

= $0.25 million × 4

= $1 Million

Total Dividend would then be:

= Annual dividend to common stockholders + Annual dividend to preferred stockholder

= $1 Million + $1 Million

= $2 Million

The value of the retained earnings balance at the end of the year will then be:

= Retained Earnings at the beginning of the year + Net Income – Dividend

= $23.45 + $2.18 - $2.00

= $23.63 million

3 0
3 years ago
Jefferson Company has sales of $300,000 and cost of goods available for sale of $270,000. If the gross profit ratio is typically
Ivenika [448]

Answer:

$60000

Explanation:

Given: Sales = $300000.

           Cost of goods available for sale= $270000.

           The gross profit ratio= 30%

First finding the gross profit out of total sales.

Gross profit= 30\% \times 300000

Gross profit= \$ 90000

∴ Cost of goods sold= Total\ sales - gross\ profit

Cost of goods sold= 300000-90000

Cost of goods sold=  \$ 210000

Hence, cost of goods sold= \$ 210000

Now, finding estimated cost of the ending inventory.

Cost of ending inventory= cost\ of\ goods\ available\ for\ sale - cost\ of\ goods\ sold

⇒ Cost of ending inventory=  \$ 270000- \$ 210000

∴ Cost of ending inventory=  \$ 60000

Hence, estimated cost of the ending inventory under the gross profit method would be $60000.

3 0
2 years ago
You deposit $100 on a bank 10% interest rate account for one year. How much do you get in one year time?
katen-ka-za [31]

Answer:

$10

Explanation:

10% of 100 is 10. 100÷10=10

8 0
2 years ago
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