Ethics is

a. a system of checks and balances in leader behaviors.
b. a moral philosophy between concepts of right and wrong behaviors linked to resource allocation.
c. an application of distributive justice based on values, beliefs and principles.
d. all of the above.
e. both b and c.

In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.