2. Relative to native extracellular matrix, describe the strengths and weaknesses of biological (natural) polymers over synthetic polymers as biomedical tissue substitutes. You must include at least 1 strengths and 1 weakness of both for full credit.

Which of the following is NOT one of the four elements of malpractice?

24 Work this problem:   Assume that a lender offers a 20-year, $175,000 adjustable-rate mortgage (ARM) with the following terms:                         Initial interest rate = 8 percent                         Index = 1-year Treasuries                         Payments reset each year                         Margin = 1.5 percent                         Interest rate cap = 1 percent annually; 3 percent lifetime                         Discount points = 2 percent                         Negative amortization allowed             Based on estimated forward rates, the index to which the ARM is tied is forecasted as follows:  Beginning of year (BOY) 2 = 7 percent; (BOY) 3 = 8.5 percent;               Compute the payments, loan balances, and yield for the ARM for the three-year period.   A. Year one payment; Loan balance and Yield B. Year two payment; Loan balance and Yield C. Year three payment; Loan balance and Yield

For Problems 15 – 20 select FOUR of these problems.  Write “SKIP” for only one of these 5 problems.   P5A 5. A borrower can obtain a $160,000 loan with a 6 percent interest rate and monthly payments. The loan is to be fully amortized over 25 years.  Alternatively, he could obtain a $180,000 loan at a 5.75 percent rate for 30 years if she agrees to pay 5 points at closing. What is the incremental cost of borrowing the additional funds (Please show what you enter into the cash flow buttons, if you use them)? 

For Essay Questions  7-14: Select Five of these 8 questions.  IF you do not want to answer, you should write “SKIP” and move to the next question A8 Explain why  a foreclosure sale sometimes desirable or even necessary when the mortgagor is willing to give a voluntary deed.

For Problems 15 – 20 select FOUR of these problems.  Write “SKIP” for only one of these 5 problems.   P4A 4.  A fully amortizing CAM (constant amortization mortgage) loan is made for $100,000 at 6% for 30 years.  Payments are made monthly. A. Calculate the monthly payment on the CAM loan for each of the first 3 months. B.  what is the payoff of the loan after 12 payments?  

25. Work this problem   An investor has $60,000 to invest in a $280,000 property. He can obtain either a $220,000 loan at 9% for 20 years, with 3 points charged at closing, or a $180,000 loan for 8.875% 20 years AND a second mortgage for $40,000 at 13.5% for 10 years.  All loans require a monthly payment and are fully amortizing. A.  What is the best alternative if the property is held to maturity (Justify your answer– which offers the cheapest cost to the borrower?)? B. What is the best alternative if the property is held for 7 years (justify your answer)?

For Questions 2-5 you were to write “SKIP” for one question.  Which question did you skip?

For problems 2, 3, 4 and 5, answer 3 of these questions. (Write “SKIP” to the one you do not want graded) You want to save $2,000,000 for retirement. You expect that you can safely earn 6% per year. You already have save 85,000  If you can deposit $15,257.30, when will you be able to retire?  

For Essay Questions  7-14:  Select Five of these 8 questions.  IF you do not want to answer, you should write “SKIP” and move to the next question. A1  What are title records? What is an abstract of title?