Joe borrowed 10,000 at 10 per year and promised to pay it back in ...

[littleanan]

Joe borrowed 10,000 at 10 per year and promised to pay it back in equal annual installments at
  the end of each of the next 5 years. Joe's payment will be 2,100 (10,000/5 ) + (10,000  10).
 
  Indicate whether the statement is true or false

Question 2

The purpose of the appraisal clause in the Homeowners 3 policy is to
 
  A) determine the appropriate amount of homeowners insurance to purchase.
  B) set a value on the home for estate purposes if the homeowner dies.
  C) settle valuation disputes between the insurer and insured after a loss has occurred.
  D) determine a mortgage lender's insurable interest after a loss has occurred.

[shewald78]

Answer to Question 1

FALSE

Answer to Question 2

Answer: C