Answer:
Explanation:
2. Down payment is $40,000 Two and half times means 5/2 i.e. 5/2*$40,000 = $100,000...
5. One mortgage point costs 1% of the mortgage loan amount.
If Jamie Lee and Ross are putting a $40,000 down payment on a home with an accepted purchase price of $273,000, then the mortgage loan will be for $233,000.
$273,000 - $40,000 = $233,000.
Two points paid toward the mortgage will be a cost of $4,660 to the seller.
$233,000 x 0.02 = $4,660.
Typically, purchasing points means that a sum of money has been paid to the lender at closing to reduce the financing cost of the loan. The benefit of purchasing points is that it will secure a lower interest rate for the home buyers. In this sense, points are not put towards the mortgage loan itself, but are used to decrease overall expense to the home buyer over the term of a mortgage. A lower interest rate over the term of a mortgage can account for tens of thousands of dollars of saved interest.
If in this case the seller is simply giving money to the home buyers to put against the mortgage, then $4,660 will reduce the total loan amount to $228,340.
Although this question is somewhat ambiguously worded, it is more likely that the points are being purchased to secure a lower interest rate. While this doesn't represent an immediate windfall to the home buyers and does not decrease the mortgage loan amount, it would provide the greatest overall advantage to the home buyers.
I can't do 3,4,6 I'm very sorry about this man. I did my best but they come out wrong and I don't want to misguide you or mislead you in any way....
Very sorry!
For the following:
2. For Jamie Lee and Ross's combined income. Using the traditional financial guideline, they can afford:
Two and a half times Jamie Lee and Ross's salary is $2.5 × $100,000 = $250,000.
Jamie Lee and Ross's down payment is $40,000.
So, the maximum amount they can afford to spend on a house is $250,000 + $40,000 = $290,000.
3. Using Your Personal Financial Plan Sheet 24, the affordable mortgage amount for Jamie Lee and Ross is:
Monthly debt-to-income ratio (DTI): 28%
Monthly mortgage payment: $1,800
Monthly property taxes and insurance: $500
Down payment: 10%
Loan amount: $233,000
The DTI is calculated by dividing the monthly mortgage payment, property taxes, and insurance by the monthly income. In this case, the DTI is 28%, which is the maximum DTI that most lenders will allow.
The monthly mortgage payment is calculated by multiplying the loan amount by the interest rate and the number of years. In this case, the monthly mortgage payment is $1,800.
The property taxes and insurance are estimated to be $500 per month.
The down payment is 10% of the purchase price, or $23,300.
The loan amount is the purchase price minus the down payment, or $275,000 - $23,300 = $233,000.
4. Jamie Lee and Ross should make a written offer to the seller, stating their willingness to pay $260,000 for the home. They should also include a deposit of $1,000 to show that they are serious buyers.
5. The benefit of having points paid toward the mortgage is that it will lower the interest rate on the loan. Two points on a $233,000 loan is equal to $4,660. This means that Jamie Lee and Ross's interest rate will be 0.25% lower, which will save them money on their monthly mortgage payments.
6. For Jamie Lee and Ross's monthly mortgage payment:
Principal: $233,000
Interest rate: 5%
Number of years: 30
Monthly payment: $1,378
The principal is the amount of money that Jamie Lee and Ross are borrowing from the lender. The interest rate is the percentage of the principal that the lender charges in interest each year. The number of years is the length of the loan. The monthly payment is the amount of money that Jamie Lee and Ross will pay to the lender each month.
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b. Income is transferred from consumers in the importing nation to domestic producers
c. Income is transferred from consumers in the importing nation to their government
d. All of the above
e. None of the above
Answer:
Explanation:
An import restriction as the term implies is done to limit the amount of a certain good that is imported into the country. Usually this is done to protect the domestic producers of the good in question who are not be as efficient as the country being imported from and so charge higher prices.
The people in the economy will experience a net loss in welfare because they will now be paying higher prices and as well will be transferring some of their income to their government because import restrictions like tariffs will see their costs passed on to the consumer.
Answer: All of the above
Explanation:
The Sherman Antitrust Act outlawed trusts. These are the groups of businesses that fine together to form a monopoly so that they can dictate price.
The purpose of the Act's was firctgr promotion of economic fairness and competitiveness. The Sherman Anti-Trust Act does not prohibit a manufacturer from having a natural monopoly over its own product.
Also, it doesn't prohibit a seller to dominate a market because of superior product or business a manufacturer to sell only through a particular distributor.
Therefore, the correct option is "All of the above".
Sales (units) 100,000 20,000
Labor (hours) 20,000 15,000
Raw materials (currency) $20,000 FC 20,000
Capital equipment (hours) 60,000 5,000
a. Calculate partial labor and capital productivity figures for the parent and subsidiary. Do the results seem confusing?
b. Compute the multifactor productivity figures for labor and capital together. Do the results make more sense?
c. Calculate raw material productivity figures (units/$ where $1=FC 10). Explain why these figures might be greater in the subsidiary.
Answer:
a. Labor Productivity:
Country Sales (Units) Labour (hours) Productivity (Sales/Labour hours)
U.S 100,000 20,000 5 units / hours
LDC 20,000 15,000 1.33 units/ hours
Capital Productivity
Country Sales (Units) Capital (hours) Productivity (Sales/Capital hours)
U.S 100,000 60,000 1.67 units / hour
LDC 20,000 5,000 4 units / hours
Conclusion: Yes, the result seems confusing. The labour productivity in U.S. is higher than LDC while the capital productivity in U.S. is lower than LDC which is contradictory.
b. Multi-factor productivity for Labor and Capital
Country Sales Input Productivity
(Units) (Labor + Capital) (units/hours)
U.S. 100,000 80,000 1.25 units/hour
(20,000 + 60,000)
LDC 20,000 20,000 1 units/hour
(15,000 + 5,000)
Conclusion: Yes it make sense as multi-factor productivity is better than partial productivity. Labor and capital are subtitles and that gives better presentation of the productivity.
c. Raw material productivity
Country Sales Raw material Productivity
(Units) (Currency) (units/hours)
U.S. 100,000 $20,000 5 units per dollar
LDC 20,000 = $2,000 10 units per dollar
Conclusion: The figures are greater in subsidiary because the price paid for raw material is much slower than the parent country.
Note: $1 = FC 10
$20,000 = FC 10
FC = $20,000 / 10 = $2,000
Answer:
$1,840,000
Explanation:
The computation of the cash collected from customers is shown below:
Cash collected from customers = Cash sales + credit sales - increase in account receivable
= $500,000 + $1,400,000 - $60,000
= $1,900,000 - $60,000
= $1,840,000
By adding the cash sales, credit sales and deduct the increase in account receivable we can get the cash collected from customers and the same is shown above
Answer:
A = $3136.51875
Explanation:
Given that :
The principal = $3,000.00
Rate = 9%
Time = 6 months
Since the amount is compounded quarterly;
r = 9/4 = 2.25 %
t = 6 months = 2 quarter
Using the formula:
A = P(1+r/100)^t
A = 3000.00(1+ 2.25/100)^2
A = 3000.00( 1+ 0.0225)^2
A = 3000.00 (1.0225)^2
A = 3000.00 (1.04550625)
A = $3136.51875
Answer:
Explanation:
Journal entry
a. Dr Cash 100750
Cr Capital- Kacy spade 100750
(Investment in company)
b. Dr Office supplies 1250
Cr Cash 1250
(to purchase office supplies on cash)
c. Dr Office equipment 10050
Cr Accounts payable 10050
( To record purchase of office equipment)
d. Dr Cash 15500
Cr Service fee income 15500
( To record service provided to customer)
e. Dr Accounts payable 10050
Cr Cash 10050
( To record payment of office equipment purchase)
f. Dr Account receivable 2700
Cr Service revenue 2700
(To record service revenue)
g. Dr Rent expense 1225
Cr Cash 1225
( To record rent expense on cash)
h. Dr Cash 1125
Dr Account receivable 1125
( To record partial collection of receivable )
i. 1) Dr Retained earning 10000
Cr Dividend payable 10000
( To record dividend yet to be to shareholder )
2.) Dr Dividend payable 10000
Cr cash 10000
( To record Payment of cash dividend)
Cash capital-kacy spade
Dr____________Cr___ ___ DR ___________Cr
100750 --- 1250 --100750
15500 ---10050
---1225
1125-- 10000
Office supplies Office equipment
Dr ____________Cr__ __ Dr _____________Cr
1250-- 10050---
Accounts payable Service fee income
Dr_____________Cr_ __ Dr ___________Cr_
10050 ---- 10050 ---- 10050
---2700
Service revenue Account receivable
Dr_____________Cr__ _ Dr ______________Cr
-- 2700----1125
rent expense retained earning
Dr____________Cr__ _ Dr __________Cr__
1225-- 10000 ---- 10000
Dividend payable
Dr_______________Cr
10000 --- 10000
Trial Balance
Cash 94850 100750 Capital-Kacy spade
Salary expense
Rent expense 1225 Account payable
Office Equipment 10050 Retained earning
Prepaid insurance 12750 Service revenue
office supplies 1250 Dividend payable
Account receivable 1575
total 108950 = 108950