You have just sold your house for $ 1 comma 000 comma 000 in cash. your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $ 750 comma 000. the mortgage is currently exactly 18½ years old, and you have just made a payment. if the interest rate on the mortgage is 5.25 % (apr), how much cash will you have from the sale once you pay off the mortgage? (note: be careful not to round any intermediate steps less than six decimal places.)

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.

Acoase solution to a problem of externality ensures that a socially efficient outcome is to