A lender estimates the closing costs on a home loan will be 3.75% of the loan amount of $120,000. The actual closing costs are listed below.
Closing Cost
Charge
Loan origination
$300
Title insurance
$600
Attorney’s fees
$1,250
Appraisal
$550
Inspection
$525
Recording fees
$125
Escrow
$2,000

Evaluate the lender’s good faith estimate.
a.
The lender made an excellent estimate; it was equal to the actual closing costs.
b.
The lender made a very good estimate; it was within 0.25% of the actual closing costs.
c.
The lender made a fairly good estimate; it was between 0.25% and 0.5% of the actual closing costs.
d.
The lender made a poor estimate; it was off by more than 0.5% of the actual closing costs.

on Edgen. is D

1. an economy consists of three workers: larry, moe, and curly. each works 10 hours a day and can produce two services: mowing lawns and washing cars. in an hour, larry can either mow one lawn or wash one car; moe can either mow one lawn or wash two cars; and curly can either mow two lawns or wash one car. a. calculate how much of each service is produced under the following circumstances: a. all three spend all their time mowing lawns. b. all three spend all their time washing cars. c. all three spend half their time on each activity d. larry spends half of his time on each activity, while moe only washes cars and curly only mows lawns b. using your answers to part a, draw a production possibilities frontier and label points a, b, c, and d on your graph. explain why the production possibilities frontier has the shape it does. c. are any of the allocations calculated in part a inefficient? explain.

Arestaurant offers delivery for their pizzas. the total cost the customer pays is the price of the pizzas, plus a delivery fee. one customer pays $23 to have 2 pizzas delivered. another customer pays $59 for 6 pizzas. how many pizzas are delivered to a customer who pays $86?

Ken earned $128 from his part-time job this summer. he spent 25% of his money on games. he is going to donate 1/6 of the remaining money to charity. how much money will the charity receive?