Ralph formed a corporation as a fund manager. he accepted money from his customers, promising to invest it and build cash value for them. instead, he kept the money for himself to enjoy a lavish lifestyle. the court removed liability protection from his corporate entity because the incorporation had been used to perpetuate fraud. this is an example of:

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.