Mortgage companies

a.

allow individual investors to achieve higher returns by direct investment in mortgages.

b.

facilitate the purchase and sale of mortgages.

c.

take deposits, savings, and term deposits and lend the money to home buyers.

d.

act as intermediaries to provide mortgages for home buyers.

Approximately how much would you need to invest today, to receive $250 in ten years, if you received an annual interest rate of ten percent?

a.

$116

b.

$87

c.

$106

d.

$96