A mortgage company charges borrowers a 1.5% loan origination fee. A house is purchased for $210,000, with a $50,000 down payment. The buyer applies for a mortgage to cover the balance. What will the mortgage company charge as a fee if the asking price of the house was $235,000? a. $2,400 b. $3,150 c. $3,525 d. $3,750

Answers

Answer 1
Answer:

Answer:

C. 3525

Explanation:

To calculate the mortgage company's fee, you first need to determine the mortgage amount, and then apply the 1.5% loan origination fee.

The purchase price of the house is $235,000.

The buyer makes a $50,000 down payment.

To find the mortgage amount:

Mortgage Amount = Purchase Price - Down Payment

Mortgage Amount = $235,000 - $50,000

Mortgage Amount = $185,000

Now, you can calculate the loan origination fee:

Loan Origination Fee = (Loan Amount) x (Loan Origination Fee Rate)

Loan Origination Fee = $185,000 x (1.5/100)

Loan Origination Fee = $185,000 x 0.015

Loan Origination Fee = $2,775

So, the mortgage company will charge a loan origination fee of $2,775.

The closest answer choice to this amount is:

c. $3,525

However, this does not match the calculated amount of $2,775. It's possible that there is an error in the answer choices provided. The correct answer based on the calculation should be $2,775, not one of the answer choices provided.


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Answers

Answer:

Apply ice for the first few days.

Take OTC pain relievers, like ibuprofen

Take a few days off from sports, activities that aggravate your symptoms, and heavy lifting.

Use good posture.

Explanation:

Use a back brace or pain patches that can help and I feel like neck and back pain happens when u put too much stress in those areas which can cause the pain you are feeling

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Answers

Benefit of hourly wage.
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Companies such as Edison Nation and the Big Idea Group have sprung up to tap into ________ possibilities, often combining its own design, branding, engineering, and sales teams with online participants, forming a community for devising new products.

Answers

Correct/Complete Question:

Companies such as Edison Nation and the Big Idea Group have sprung up to tap into ________ possibilities, often combining its own design, branding, engineering, and sales teams with online participants, forming a community for devising new products.

A) stage-gating

B) cocreation

C) microstocking

D) buzzing

E) crowdsourcing

Answer:

E, crowdsourcing

Explanation:

Crowdsourcing is a way of sourcing for ideas, design, etc; used by individuals or corporations by using a an open and vast group of internet users.

In crowdsourcing, work is divided between the participants to ensure that time is managed as well as simultaneous aspects of a product are handles at once.

By the time the consultation period is over, the individual or corporation has all the pros and cons of a product worked out and put together.

Crowdsourcing is done by creating idea competitions or innovation contests. This gives a company a wider range of thoughts or exposition to things than the employees of the company might be able to handle or produce. Crowdsourcing is used by companies that are non profit to create common goods.

I hope this helps.  

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Answers

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Explanation:

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They also promote by giving certain discounts and offers during  vacation time for attracting many people towards that destination. They also give advertisements for making the people to support state tourism to generate resources for the nation. Thus, in the given example the source of the advertising message is the Minnesota State Tourism Department.

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Answers

Answer:

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Explanation:

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Answers

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