What was the original listed price

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Problem 1: An owner listed property for sale at a price that exceeded market value. The owner then dropped the asking price by 15% to a new listed price of $300,000. What was the original listed price?

Option 1: $420,640

Option 2: $400,300

Option 3: $336,000

Option 4: $352,941

Problem 2: If a loan starts with relatively low monthly payments but then the payments are increased over the term of the loan according to a known, fixed schedule, this is called a(n):

Option 1: ARM loan

Option 2: amortized loan

Option 3: graduated payment loan

Option 4: participation loan

Reference no: EM132808912

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