The correct answer is B; Closing and B; Follow up.
Further Explanation:
When a realtor has gotten to the stage where the deal is done and the actual point when the customer agrees to purchase the property is the closing. During the closing, the papers and contracts will be drawn up and signed. The mortgage company will transfer the money and all inspections and title searches will be performed.
The state that relates to the post-sale interaction is called the follow-up. A good realtor will always want to follow up with the family. This can help to get the realtor more customers by having good reviews by word of mouth and written reviews. Realtors will usually purchase a gift for the new homeowners and follow-up to make sure everything is going well in the new home and there is no issues occurring.
Learn more about the closing process at brainly.com/question/13322199
#LearnwithBrainly
Answer:
The correct answer here is FALSE (on Edg).
C: pay for the costs of having bank employees
D: collect funds for withdrawals from a competitor’s machine
Answer:
A: penalize customers for writing checks for money they do not have
Explanation:
A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.
In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.
Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent non-sufficient funds (NSF) checks.
A non-sufficient funds (NSF) checks refers to a check that is not honored by the bank of the issuer due to the fact that the individual or business entity has an insufficient fund. It is also known as a bounced or bad check.
Hence, the purpose of non-sufficient funds fees is to customers for writing checks for money they do not have. In the United States of America, the fee charged for non-sufficient funds (NSF) checks is between $27 to $35.
Answer:
Let's break down the information and check which statements are true:
I. The amount of the loan will be $200,000.
- This statement is true. The house is priced at $200,000, and you are making a 10% down payment, which means you will be taking a loan for the remaining 90% of the house price. So, the loan amount is $200,000.
II. Closing costs will be $10,000.
- This statement is not necessarily true. You mentioned that closing costs will be 5% of the house price. To find the closing costs, calculate 5% of $200,000: 0.05 * $200,000 = $10,000. So, the closing costs could be $10,000.
III. Closing costs will be $9,000.
- This statement is not true based on the information provided. The calculation in statement II shows that closing costs are $10,000, not $9,000.
IV. You will need to bring $29,000 total to the bank in order to get the loan.
- This statement is true. To calculate the total amount you need to bring to the bank, add the down payment and closing costs: 10% of $200,000 (down payment) + $10,000 (closing costs) = $20,000 + $10,000 = $30,000. So, you will need to bring $30,000 in total to the bank to get the loan.
Therefore, statements I and IV are true, while statements II and III are not necessarily true based on the provided information.
The true statements are: Closing costs will be $10,000 and You will need to bring $30,000 to the bank. The loan amount will be $180,000, not $200,000.
Firstly, for a house priced at $200,000, a 10% down payment would be $20,000 (200,000*0.10). Secondly, closing costs will be 5% of the price, which would amount to $10,000 (200,000*0.05). To calculate the total amount you need to bring to the bank, you add the down payment and closing costs, equalling $30,000.
Therefore, the statements that are true are: The closing costs will be $10,000 and You will need to bring $30,000 total to the bank in order to get the loan.
The statement The amount of the loan will be $200,000 is false because the loan amount will be the home price minus the down payment, or $180,000.
#SPJ11
For a subsidized Loan Payment Calculation, Brian's monthly payment will be approximately $170.94 and for an unsubsidized loan, the monthly payment will increase to $192.90Correct options:
(a) Subsidized loan monthly payment: $190.76
(b) Unsubsidized loan monthly payment: $215.77
Explanation:
The subject of this question is a mathematical calculation of loan payments, under subsidized and unsubsidized conditions. Brian took a loan of $14,505 in college with an annual interest rate of 7.8%.
Subsidized loan calculation: As the loan is subsidized, the interest does not accrue during Brian's time in college. Hence, the total loan amount remains $14,505. Using standard formulae, we find that the monthly payment with an interest rate of 7.8% over 10 years amounts to approximately $170.94.
Unsubsidized loan calculation: In this case, interest does accrue during Brian's time in school. Hence, the total amount due at the time of graduation will be $14,505 + ($14,505 * 0.078) * 2 = $16,467.78. Using the same formula as above, we find the monthly payment over 10 years is approximately $192.90.Correct options:
(a) Subsidized loan monthly payment: $190.76
(b) Unsubsidized loan monthly payment: $215.77
Learn more about Loan Payment Calculation
#SPJ11
Answer:
(a) If Brian's loan is subsidized, the interest on the loan does not accrue while he is in school. Therefore, the loan amount of $14,505 remains the same throughout the 2 years he is in school.
To find Brian's monthly payment after graduation, we need to calculate the monthly payment for a loan of $14,505 at an annual interest rate of 7.8% for a term of 10 years (120 months).
To calculate the monthly payment, we can use the formula for the monthly payment on a loan:
Monthly payment = (Loan amount * Monthly interest rate) / (1 - (1 + Monthly interest rate)^(-Number of months))
First, let's calculate the monthly interest rate. The annual interest rate of 7.8% needs to be converted to a decimal and divided by 12 to get the monthly interest rate:
Monthly interest rate = 7.8% / 12 = 0.065
Next, let's substitute the values into the formula:
Monthly payment = (14,505 * 0.065) / (1 - (1 + 0.065)^(-120))
Calculating this expression will give us the subsidized loan monthly payment.
(b) If Brian's loan is unsubsidized, the loan will accrue simple interest during the 2 years he is in school. To find the monthly payment for an unsubsidized loan, we need to calculate the interest that accrued during those 2 years and add it to the loan amount before using the formula for the monthly payment.
To calculate the interest that accrued during the 2 years, we can use the formula:
Interest = Loan amount * Annual interest rate * Time
Substituting the values, we get:
Interest = 14,505 * 0.078 * 2
Calculating this expression will give us the interest accrued.
To find the total loan amount after the 2 years, we add the interest accrued to the original loan amount:
Total loan amount = 14,505 + interest accrued
Then, we can use the formula for the monthly payment as explained in part (a) to calculate the unsubsidized loan monthly payment:
Monthly payment = (Total loan amount * Monthly interest rate) / (1 - (1 + Monthly interest rate)^(-Number of months))
Calculating this expression will give us the unsubsidized loan monthly payment.
Explanation:
MARK ME BRAINLIST
Answer:
Financial markets primarily allow consumers to better time their purchases in situations where they can invest or save money over time to meet future expenses or goals. The situations in which financial markets are most relevant for timing purchases are:
A. Paying for tuition: Financial markets can help consumers save and invest for educational expenses, allowing them to better time their tuition payments.
D. Purchasing a car or furniture: Consumers can use financial markets to save and invest for major purchases like cars or furniture, which can help them time these acquisitions to align with their financial goals.
In both of these situations, financial markets enable individuals to accumulate and grow their funds over time, making it easier to cover significant expenses when needed.
On the other hand, for everyday expenses like groceries (B) or immediate unexpected expenses like repairing a flooded basement (C), the timing of purchases is less influenced by financial markets since these expenses typically require more immediate payments and don't involve long-term savings or investments.