Nesrin purchased a $325,000 house and paid 25 percent down. She got a 30-year fixed-rate mortgage with an annual interest rate of 5.75 percent. After five years she refinanced the mortgage for 25 years at a 5.35 percent annual interest rate. After she refinanced, what is the new monthly payment (to the nearest dollar)

Answers

Answer 1

Answer:

$1,335.01

Explanation:

First step

PV = -325000 * (1-25%)  = -243750

N = 30*12  = 360

I/Y = 5.75%/12

FV = 0

Using the  Financial calculator

CPT PMT = PMT (-PV, N, I/Y, FV)

CPT PMT = $1,422.46  

Second Step

PMT = 1422.46

PV = -325000*(1-25%)  = -243,750

I/Y=5.75%/12

N = 12*5  = 60

Using the  Financial calculator

CPT FV = FV(PMT, -PV, I/Y, N)

CPT FV = $226,107.75

The Loan outstanding is $226,107.75 after 5 years

Third Step

PV = -226107.75

I/Y = 5.1%/12

N = 12*25 =  300

FV = 0

Using the  Financial calculator

CPT PMT = PMT(-PV, N, I/Y, FV)

CPT PMT = $1,335.01

Hence, the new monthly payment is $1,335.01


Related Questions

True or False: A market with several firms in operation can be a competitive, contestable market. True False The contestable market model has important policy implications. If there is concern that a market is not sufficiently competitive, what can policymakers do to increase competition in a given industry? Check all that apply. Decrease entry barriers Increase entry barriers Decrease the amount of regulation

Answers

Answer:

1. True

2. Decrease entry barriers

Decrease the amount of regulation

Explanation:

A market with several firms in operation can be a competitive market as the firms involved will compete against each other for the economic profits in the industry. The market has to have low barriers to entry for it to be contestable.

To make the industry more competitive, barriers to entry should be reduced and regulation relaxed. This will bring in more firms into this market and make it more competitive.

Brad's Diner is expanding and expects operating cash flows of $32,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $3,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 12 percent

Answers

Answer: $57,101.73

Explanation:

First find the present value of the cash inflows. The $32,000 is a constant payment so is an annuity. The net working capital will be realized at the end of the project as well.

Present value of cash inflows = (32,000 * Present value interest factor of an annuity, 4 years, 12%) + 3,000/ (1 + 12%)⁴

= (32,000 * 3.0373) + 1,906.55

= ‭$99,101.73

NPV = Present value of inflows - Outflows

= ‭99,100.15‬ - (39,000 + 3,000)

= $57,101.73

Which factor would credit card companies most likely use to determine an
applicant's creditworthiness?

A. Hourly wages

B. Languages spoken

C. Political party

D. Size of family

Answers

A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.

Credit card issue

When you apply for a credit card, you’re required to share an array of personal information on your application. This will include details like your name, address, Social Security number and current employment status. You’ll also be asked to list your income on your application, although the type of income card issuers ask for can vary depending on the card issuer.

Determination of hourly wages

Not all credit card issuers will ask for your annual net income. Some may explicitly ask for your gross income. If you are paid an hourly wage, on the other hand, you may need to figure out your gross income using last year’s tax return or by multiplying your gross weekly income by the number of weeks you work within a year.

Thus, A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.

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The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31, 2017
a. Unrecorded depreciation on the trucks at the end of the year is $8.231
b. The total amount of accrued interest expense at year-end is $8,000.
c. The cost of unused office supplies still available at year-end is $1,400.
1. Prepare the year-end closing entries for Dylan Delivery Company as of December 31, 2017
2. Determine the capital amount to be reported on the December 31, 2017 balance sheet.

Answers

Answer:

Question 1

Part a

Debit : Depreciation $8.231

Credit : Accumulated Depreciation $8.231

Part b

Debit : Interest Expense $8,000

Credit : Long term notes payable $8,000

Part c

Debit : Office Supplies Expenses $ 500

Credit:  Office Supplies $ 500

Question 2

Capital amount to be reported on the December 31, 2017 balance sheet is $170,551

Explanation:

See below the full question that i have attached

Calculation of Capital amount as at December 31, 2017

Balance before adjustments              $187,282

Adjustments :

Depreciation                                           ($8.231)

Interest Expense                                   ($8,000)

Office Supplies Expenses                      ($ 500)

Balance after adjustments                   $170,551

Oriole Company issued $476,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $454,580, the company redeemed the bonds at 97. Prepare the entry to record the redemption of the bonds.

Answers

Answer:

Date   Account and Explanation          Debit         Credit

           Bonds payable                         $476,000

           Loss on bond redemption       $7,140

           (461,720 - 454,580)

                    Cash                                                     $461,720

                     (476,000 * 0.97)

                     Discount on bonds payable               $21,420

                     (476,000 - 454,580)  

           (To record redemption of the bonds)

The tables show the annual incomes for the citizens in two countries, Melka and Sorare. Use this information to answer the questions. The Nation of Sorare Citizen Income Teddy $2,000 Kermit $50,000 Franklin $63,500 Anna $1,500 Eleanor $2,000 Edith $1,000 The Nation of Melka Citizen Income Etta $20,000 Duke $21,000 Louis $20,000 Billie $20,300 Cole $19,000 Zora $19,700 Based on the information here, which nation would you expect to have the higher Gini coefficient

Answers

Answer: The nation of Sorare

Explanation:

The Gini coefficient is a statistical measure that is used to measure income disparity/ inequality in a country.

The closer to zero the Gini coefficient is, the more equitable the income in a country is. Simply put, if more people in a nation have similar levels of income, the Gini coefficient will be smaller.

In the question, the nation of Sorare has two people earning a high amount of money while others make considerably less. This shows a high income disparity which means that the Gini coefficient here will be higher than in Melka where citizens mostly have similar incomes.

Select the correct answer.
which of the following Involved a digital designer?
A The hardware that lets your hard drive work.
B. A computer animated movle
oc. An old cartoon from the 1930s
D. The evening news

Answers

I think C because a cartoon is not in real life so a DIGITAL DESIGNER needs to make these cartoons to be shown on television.

Hope this helps!!
Brainliest??

A bank's actual reserve ratio is the percentage of total deposits a bank actually holds on to. It is made up of the percentage they are required to hold on to, known as the required reserve ratio, plus any extra they choose to hold on to. Suppose Dave's bank has an actual reserve ratio of 12%, and his bank makes a loan to Darlene based on the funds from Dave's deposit. How much does the money supply increase as a result of this second step

Answers

Answer:

The increase in the money supply will be "833333.33".

Explanation:

The real reserve ratio of either a lender seems to be the proportion of overall reserves another bank currently occupies onto another. It consists of the proportion they become required to secure forward with, referred to that as the reserve requirement expected, including whatever extra those who happen to retain onto this.

According to the question,

The multiplier will be:

⇒ [tex]\frac{1}{RRR}[/tex]

⇒ [tex]\frac{100}{12}[/tex]

⇒ [tex]\frac{25}{3}[/tex]

So the increase will be:

⇒ [tex]100000\times \frac{25}{3}[/tex]

⇒ [tex]833333.33[/tex]

Youngstown Rubber reports the following data for its first year of operation. Direct materials used $710,200 Direct Labor 350,000 Cost of goods manufactured 1,030,300 Finished goods inventory, ending 190,900 Finished goods inventory, beginning 0 Manufacturing overhead 100,100 Work in process inventory, beginning 0 Work in process inventory, ending 130,000 What are the total manufacturing costs to account for

Answers

Answer:

$1,160,300

Explanation:

Total Manufacturing Costs are all costs related to the production of goods to be sold. This consists of direct costs such as labor and material and other indirect costs such as electricity and rentals.

Calculation  of total manufacturing costs :

Cost of goods manufactured         1,030,300

Add Closing Work In Process           130,000

Less Beginning Work In Process                 0

Total manufacturing costs            $1,160,300

. A three-year interest rate swap has a level notional amount of 300,000. Each settlement period is one year and the variable rate is the one-year spot interest rate at the beginning of the settlement period. The swap rate for this interest rate swap is 4.317%. Two years have elapsed and the one-year spot interest rate at the start of year three is 5.25%. Calculate the market value of the swap from the perspective of the payer.

Answers

Answer:

$2,660

Explanation:

The market value is the present value of expected future cash flows.

Expectation is that swap will pay (300,000) (0.04317) and receive (300,000) ( 0.0525), and these payments would be made at end of one year.

Then, market value = ((300,000)(0.0525) - (300,000)( 0.04317)) / (1 + 0.0525)

Market value = 2799 / 1.0525

Market value = 2659.38

market value = $2,660

Therefore, the market value of the swap from the perspective of the payer is $2,660.

Your would like to share some of fortune with you. offers to give you money under one of the following scenarios​ (you get to​ choose): 1. a year at the end of each of the next years 2. ​(lump sum) now 3. ​(lump sum) years from now Calculate the present value of each scenario using ​% interest rate. Which scenario yields the highest present​ value? Would your preference change if you used a ​% interest​ rate?

Answers

Answer and Explanation:

The computation is shown below:

1. In the case when the rate of interest is 6%

So, the present value is

1. For at the end of eight years, the present value of $7,000 is

= $7,000 × 6.20979

= $434,68.53 or $43,469

2. The lumpsum now is $45,000

3. The eight years from now is

= $75,000 × 0.62741

= $47,00,55.75 or $47,056

Thus, the highest present value = $47,056

2.   In the case when the rate of interest is 12%

1.  For at the end of eight years, the present value of $7,000 is

= $7,000 × 4.96764

= $34,773.48 or $34,773

2. The lumpsum now is $45,000

3. The eight years from now is

= $75,000 × 0.40388

= $30,291

Thus, the highest present value = $45,000

Concord Inc. took a physical inventory at the end of the year and determined that $783000 of goods were on hand. In addition, Concord, Inc. determined that $55000 of goods that were in transit that were shipped f.o.b. shipping point were actually received two days after the inventory count and that the company had $91000 of goods out on consignment. What amount should Concord report as inventory at the end of the year

Answers

Answer:

$929,000

Explanation:

Calculation for the amount that Concord should report as inventory at the end of the year

Using this formula

Inventory=Ending physical inventory+Goods in transit+Goods out on consignment

Let plug in the formula

Inventory=$783,000+$55,000+$91,000

Inventory=$929,000

Therefore the amount that Concord should report as inventory at the end of the year will be $929,000

Sally opened her own business and resigned from a job paying $25,000 per year. Her savings acccount pays 8% interest, but she withdrew $20,000 to buy some machinery which didn't fall in value. She could have earned 10% on the $20,000 had she invested it in another company with the same risk as hers. In adddition to the $20,000 her only other cost is $15,000 per year she charges her business as a salary for herself. In the first year her business made accounting profit of $12,000. Will other people having $20,000 in savings want to leave a $25,000 job to open a business like Sally's if their only objective is money?
A) They would be indifferent, as Sally's income net of costs equals $25,000.
B) Yes, because Sally's income is $27,000 but her costs are $20,000.
C) No, because Sally's income is $27,000 but her costs are $35,000.
D) Yes, because Sally's economic profit is positive.
E) Both (B) and (D).

Answers

Answer:

A) They would be indifferent, as Sally's income net of costs equals $25,000.

Explanation:

Sally's economic profit = accounting profit - opportunity costs

accounting profit = $12,000opportunity costs = $25,000 - $15,000 in lost salaries + $2,000 (lost investment revenue) = $12,000

economic profit = $12,000 - $12,000 = $0

Since the economic profit is $0, Sally should be indifferent between running her own business or working for someone else.

What can older aduts do to achieve high status in society?
O Take a class at local community college
O Engage in useful occupations or vocations
O Learn a new skill or hobby such as Cooking
O Participate in leisure activities such as golf or travel

Answers

Answer:

engage in useful occupations or vocations

Barbara's employer offers health coverage to its employees. However, Barbara feels it is unaffordable and wants to apply for a health insurance premium tax credit. In order for the coverage to be deemed unaffordable in 2020, Barbara's self-only premium must exceed __ of her household income.

Answers

Answer:

9.83%

Explanation:

If the health insurance premium represents 9.83% of Barbara's income or less, it is considered affordable coverage. Only if it exceeds the 9.83% threshold, will Barbara be able to request a health insurance premium tax credit. Theoretically, if Barbara's health insurance was purchased in the Health Insurance Marketplace, the tax credit should be automatic and her premium should be lowered so that it can become affordable.

The process of starting, organizing, managing, and assuming the responsibility for a business is called capitalism.
a. True
b. False

Answers

Answer: False

Explanation: There you go.

False
Hope this helps

Antidilutive securities should be included in the computation of diluted earnings per share but not basic earnings per share. are those whose inclusion in earnings per share computations would cause basic earnings per share to exceed diluted earnings per share. should be ignored in all earnings per share calculations. include stock options and warrants whose exercise price is less than the average market price of common stock.

Answers

Answer: should be ignored in all earnings per share calculations.

Explanation:

Antidilutive securities are the financial instruments that will lead to a rise in the earning per share when such financial instruments are changed to common stock.

Antidilutive securities should be ignored in all earnings per share calculations. This is because new shares are being offset when such acquisition takes place leading to a rise in the earning per share.

Point D on the graph represents which phase of the business cycle?

Answers

Answer:

Contraction

Explanation:

Just took the Test

Astor, a cash-basis taxpayer, died on February 3. During the year, the estate's executor made a distribution of $12,000 from estate income to Astor's sole heir and adopted a calendar year to determine the estate's taxable income. The following additional information pertains to the estate's income and disbursements for the year:
Estate income:
Taxable interest $ 65,000
Net long-term capital gains allocable to corpus 5,000
Estate disbursements:
Administrative expenses attributable to taxable income $ 14,000
Charitable contributions from gross income to a public charity, made under the terms of the will
9,000
For the calendar year, what was the estate's distributable net income (DNI)?
a. $58,000
b. $39,000
c. $65,000
d. $42,000

Answers

Answer:

d. $42,000

Explanation:

Calculation for what was the estate's distributable net income (DNI)

ESTATE'S DISTRIBUTED NET INCOME

GROSS INCOME:

Taxable interest $65,000

ESTATE DISBURSEMENTS:

Less Administrative expenses ($14,000)

Less Charitable contributions from gross income ($9,000)

DISTRIBUTED NET INCOME (DNI) $42,000

($65,000-$14,000-$9,000)

Therefore the estate's distributable net income (DNI) will be $42,000

2. Some companies have eliminated the collection and reporting of detailed analysis on direct labor costs broken down by various activities. Instead, first-line supervisors are responsible for controlling the total costs of direct labor. The justification for this argument is that labor costs represent only a small fraction of the total costs of producing a product and are not worth the time and effort to trace to individual activities. Do you agree or disagree with this argument

Answers

Answer:

The description would be presented downwards and as per the circumstance presented.

Explanation:

Instead of assigning resources associated with a specific frequency, activity based costs which always track costs on the basis seem to be an essential component of cost accounting because that would be a more effective means for providing resources. The costs when implementing some activity based accounting systems, furthermore, are even less than the potential advantages of moving towards this framework only then would it have been simpler as well as productive for the growing company ABC.Throughout the case situation, the claim whether direct labor constitutes a member of a minority fraction of the overall wages should not be an excellent explanation for either not apportioning production wages contingent on the operation, but if the organization determines that the expense of someone using ABC to assign labor profitability of different practices is greater than advantages, the organization increasing turn to something like an optimization model for that frequency.

Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $8,800 (that had cost $6,503) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. 12 Sold merchandise for $6,000 (that had cost $3,888) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.)

Answers

Answer:

Levine Company

Journal Entries

April 8:

Debit Cash Account $8,448

Debit Finance Charge Expense $352

Credit Sales Revenue $8,800

To record the sale of goods.

Debit Cost of Goods Sold $6,503

Credit Inventory $6,503

To record the cost of goods sold.

April 12:

Debit Cash Account $5,850

Debit Finance Charge Expense $150

Credit Sales Revenue $6,000

To record the sale of goods.

Debit Cost of Goods Sold $3,888

Credit Inventory $3,888

To record the cost of goods sold.

Explanation:

a) Data and Calculations:

April 8 Sales Revenue = $8,800

Finance charges = 4% of $8,800 = $352

Cost of goods sold = $6,503

April 12 Sales Revenue = $6,000

Finance charges = 2.5% of $6,000 = $150

Cost of goods sold = $3,888

On May 16, Thorne Co. declares a $0.40 dividend to be paid on April 5. Thorne has 2,060,000 shares of common stock issued and outstanding. The entry recorded by the company on May 16 includes a debit to: Multiple Choice Dividends Payable and a credit to Cash for $824,000. Dividends and a credit to Dividends Payable for $824,000. Dividends Payable and a credit to Cash for $781,600. Dividends and a credit to Dividends Payable for $781,600

Answers

Answer:

b. Dividends and a credit to Dividends Payable for $824,000

Explanation:

Dividends payable = 2,060,000 shares * $0.40 per share = $824,000

Journal entry on February 16

Dividends                 $824,000

Dividends payable                     $824,000

Your client has called for help with their bank feeds in QuickBooks Online. You begin by asking them to open the Banking tab in the Left Navigation bar and your client tells you that she doesn't see this option listed. What could be the reason?a. Your client doesn't have bank feeds enabledb. Your client has Business view selected in their settingsc. Your client has turned off the Banking option in their settingsd. Your client has the Simple Start subscription for QuickBooks Online

Answers

Answer: b. Your client has Business view selected in their settings

Explanation:

There are two views when it comes to Quickbooks Online: Business view and Accountant view. Accounting view is for more seasoned users who have some form of accounting training so it has more features.

Business view on the other hand is simplified for those who don't know much about accounting. It is easy to follow and some features are reordered for simplicity.

The Banking tab is one of those features and it is not openly shown in the business view so the most probably the reason your client can't see it is that she is using the Business view.

Gradwell, Inc., manufactures and sells two products: Product K8 and Product I4. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below:
Expected Direct labor hours Total direct labor hours
production per unit
product K8 300 5.0 1,500
product I4 900 3.0 2,700
total direct labor hours 4,200
The direct labor rate is $17.20 per DLH. The direct materials cost per unit for each product is given below:
Direct materials
cost per unit
product K8 $150.20
product I4 $243.70
The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Estimated Expected activity
Activity Cost Pools Activity Measures Overhead
Cost Product K8 Product I4 Total
labor related DLHs $176,064 1,500 2,700 4,200
machine setups setups 71,290 400 600 1,000
order size MHs 121,396 4,300 4,600 8,900
$368,750
The overhead applied to each unit of Product I4 under activity-based costing is closest to:_______.
a. $543.49 per unit.
b. $675.20 per unit.
c. $736.36 per unit.
d. $431.71 per unit.

Answers

Answer:

Gradwell, Inc.

The overhead applied to each unit of Product I4 under activity-based costing is closest to:_______.

$243.00 per unit.

Explanation:

a) Data and Calculations:

production per unit                       DL rate   Total Labor Cost

product K8    300    5.0     1,500   $17.20       $25,800

product I4     900     3.0   2,700    $17.20        $46,440

total direct labor hours    4,200   $17.20        $72,240

production per unit       Direct Materials   Total Material Cost

product K8    300          $150.20                   $45,060

product I4     900          $243.70                    219,330

Total direct materials costs =                      $264,390

Estimated Expected activity

Activity Cost Pools Activity Measures  Overhead  Product  Product  Total          

                                                                   Cost          K8           I4

labor related            DLHs                 $176,064       1,500       2,700   4,200

machine setups       setups                   71,290         400          600    1,000

order size                MHs                      121,396      4,300       4,600   8,900

Total                                                  $368,750

Overhead  Cost Allocation  Product    Product    Total          

                                                K8             I4

Labor cost                         $62,880    $113,184  $176,064

Machine setups                   28,516      42,774       71,290

Order size                           58,652     62,744      121,396

Total                                $150,048  $218,702  $368,750

Quantity                                300          900

Overhead per unit          $500.16    $243.00

In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Ivanhoe Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $29,500 and sales taxes $1,475. 2. Pharoah Company does not segregate sales and sales taxes. Its register total for April 15 is $18,530, which includes a 9% sales tax.

Answers

Answer:

Requirement: Prepare the entry to record the sales transactions and related taxes.

1.   Date      Account Titles and Explanation     Debit     Credit

   Apr. 10   Cash                                                 $30,975

                        Sales Revenue                                          $29,500

                        Sales Tax Payable                                     $1,475

                 (To record Cash sales along with sales tax)

2. Date      Account Titles and Explanation    Debit     Credit

   Apr. 15   Cash                                                 $18,530

                        Sales Revenue                                          $17,000

                        Sales Tax Payable                                     $1,530

                  (To record Cash sales along with sales tax)

Workings

- Total Sales along with sales tax = $18,530, Sales Tax Rate = 9%. Sales Tax Amount = 18530*(0.09/1.09) = $1,530

- Sales Without Sales Tax = $18,530 - $1,530 = $17,000

The following inventory data have been established for the Cotton Tops Inc. (1) Annual sales are 100,000 units. (2) The purchase price per unit is $2.00 (3) Carrying cost is 3% percent. (4) Cost per order placed is $10. (5) Desired safety stock is 30 days supply. Use this data to compute: (a) EOQ - 3 pts (b) Average Inventory - 2 pts (c) Maximum Inventory - 1 pt (d) Optimal number of orders per year - 1 pts (e) Total inventory cost - 3 pts

Answers

Answer:

a) in order to calculate the EOQ we do not consider safety stock since that is one time purchase.

EOQ = √(2SD / H)

S = order cost = $10

D = annual demand = 100,000 units

H = annual holding cost = $2 x 3% = $0.06

EOQ = √[(2 x $10 x 100,000) / $0.06] = √33,333.33 = 5,773.5 ≈ 5,774

b) average inventory = (5,774 / 2) + (100,000/12) = 2,887 + 8,333 = 11,220 units

c) maximum inventory = 8,333 + 5,774 = 14,107

d) optimal number of orders = 100,000 / 5,774 = 17.32 times

e) total inventory cost = (17.32 x $10) + (11,220 x $0.06) + (100,000 x $2) + (8,333 x $2) = $173.20 + $673.20 + $200,000 + $16,666 = $217,512.40  

Clear OKRs presented by MyFitnessPal enabled other divisions of Under Armour to align themselves with what MyFitnessPal was capable of and the momentum it had. MyFitnessPal was also able to use the OKR system to align with other divisions of Under Armour.
a) true
b) false

Answers

Answer:

a) true

Explanation:

OKRs means “Objectives and Key Results.” It is an organizational collaborative and goal-setting technique used by individuals, teams, and divisions to set challenging, ambitious, and attainable goals with measurable results.  OKRs are used to track progress, create alignment, and encourage engagement around measurable goals.  As a goal-setting framework for defining and tracking objectives and their outcomes, OKRs are different from Key Performance Indicators (KPIs), which measure performance within a strategic framework.

Which of the following statements is NOT correct on service A. Services are time sensitive and cannot be stored or inventoried for future use. B. Services are acts or deeds that can be touched. C. A service system includes the service delivery process and all of the different elements of the organization required to support it. D. More people now work in the service section than in the agriculture section worldwide.

Answers

Answer:

B. Services are acts or deeds that can be touched.

Explanation:

A service can be defined as a collection of intangible goods that are being offered by a service provider to the end user in order to meet their needs or requirements.

Some of the characteristics and features of a service includes;

1. Services are time sensitive and cannot be stored or inventoried for future use.

2. A service system includes the service delivery process and all of the different elements of the organization required to support it.

3. More people now work in the service section than in the agriculture section worldwide

Hence, the statement which is not correct about service is that, services are acts or deeds that can be touched.

Michelle Duncan wants to know what price home she can afford. Her annual gross income is $54,000. She owes $810 per month on other debts and expects her property taxes and homeowners insurance to cost $170 per month. She knows she can get an 6.00%, 30-year mortgage so her mortgage payment factor is 6.00. She expects to make a 15% down payment. What is Michelle's affordable home purchase price?a. $52.940.b. $950.c. $128,560.d. $126100.e. $960.

Answers

Answer:

$143137.25

Explanation:

Given that:

The annual gross income = $54000

The monthly gross income = $54000/12

= $4500

Using the PITI guideline, a mandatory expense of 38% of monthly income is applied.

So;

Expense = $4500 × 38% = $1710

Additional Monthly debt =  $810

Cost of Prop. Taxes and H.O insurance = $170

Monthly Balance left = $1710 - $(810 + 170) = $730

Mortgage payment factor = 6.00

Monthly mortgage payment = [tex]\dfrac{monthly \ balance \ left }{ Mortgage \ payment \ factor }\times 1000[/tex]

[tex]=\$ (\dfrac{730}{6.00 })\times 1000[/tex]

= $121666.67

Affordable home purchase price = [tex]\dfrac{monthly \ mortgage \ payment }{1 - percentage \ of \ down \ payment}[/tex]

[tex]= \dfrac{ \$121666.67}{1- 0.15}[/tex]

[tex]= \dfrac{\$121666.67}{0.85}[/tex]

= $143137.25

Demonstrating the proper way to shake hands is an example of which choice?

a. teamwork


b. workplace etiquette


c. employee performance


d. work ethics

Answers

Answer:

A. Teamwork

Explanation:

when you do something right as a team you handshake as a thank you for helping me.

Answer:

employee performance

Explanation:

took the test

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