You are buying a house that is priced at $200,000. You need to make a 10% down payment, and closing costs will be 5%. Which of the following is/are true? I. The amount of the loan will be $200,000 II. Closing costs will be $10,000 III. Closing costs will be $9,000 IV. You will need to bring $29,000 total to the bank in order to get the loan.

Answers

Answer 1

Answer:

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.

Answer 2

Answer:

Final answer:

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.

Explanation:

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.

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Answers

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The major federal law affecting human resources primarily addresses:

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Federal laws impacting human resources address a range of issues including employee and applicant protections, workplace safety, and accommodations for disabled individuals. Important laws include ADA, OSHA, and Title VII of the Civil Rights Act. Therefore, all the options provided in the question are correct.

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Answers

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Answer:

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