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stiv31 [10]
2 years ago
7

A lender estimates that the closing costs on a $293,600 home loan will be $11,010. the actual closing costs were 3.25% of the lo

an amount. determine if the closing costs were higher or lower than the estimate and by what percent? a. higher by 0.25% b. higher by 0.5% c. lower by 0.25% d. lower by 0.5%
Business
1 answer:
mestny [16]2 years ago
4 0

The closing cost of the house mortgage is lower than the envisioned by 0.5%.

<h3>What is the closing cost?</h3>

Closing expenses are the prices over and above the property's rate that consumers and dealers generally incur to finish an actual property transaction.

Those expenses may also encompass mortgage origination fees, cut price points, appraisal fees, name searches, name insurance, surveys, taxes, deed recording fees, and credit score file charges.

The lender is required by regulation to expose those expenses in the form of a mortgage estimate within 3 days of a domestic mortgage application.

Gifts of equity (actual property income given to a relative or close pal at a below-marketplace rate) can also incur a few closing cost.

So, from the above announcement, it's clear that alternative D, decreasing by 0.5%, is an appropriate answer.

Learn more about closing cost, refer to:

brainly.com/question/1084194

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If a bond's yield to maturity is less than its coupon rate, the bond will sell at a _____, and increases in market interest rate
KiRa [710]

If a bond's yield to maturity is less than its coupon rate, the bond will sell at a premium, and increases in market interest rates will decrease this premium.

If the bond's coupon rate is lower than YTM, the bond will be sold at a discounted price. If the bond's coupon rate is higher than its YTM, the bond is sold at a premium. If the bond's coupon equals YTM, the bond is sold at face value.

If the coupon is higher than the yield, investors should expect the bond's capital value to fall over the remaining term. Therefore, the price of the bond must be higher than its face value. If the bond's coupon rate is lower than its lifetime, the bond's price increases over its remaining lifetime.

If the interest rate falls below the coupon, the bond can be sold at a premium above face value. Interest rates on bonds vary according to prevailing interest rates and perceived risks of the issuer. Suppose he has a 10-year bond for $5,000 with a 5% coupon.

Learn more about bonds here brainly.com/question/25965295

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7 0
1 year ago
Only people who own property need insurance<br><br><br>true or false
MAVERICK [17]

Answer:

false

Explanation:

pretty sure that is false as one can have life insurance without property.

Still double check...

5 0
2 years ago
According to a sustainability survey commissioned by the consulting firm KPMG, approximately ________ of large and mid-sized com
GREYUIT [131]

Answer: 62 percent

Explanation: A sustainability survey commissioned by the consulting firm KPMG, stated that approximately 62 percent of large and mid-sized companies worldwide have an active sustainability program in place, and that another 11 percent are developing one. Sustainable development is aimed at replacing economic development, thus encouraging better environmental

and sustainability performance.

7 0
3 years ago
Read 2 more answers
You are the manager of a retail store. You believe the economy is in a recession and that sales for the month will be unusually
Schach [20]

Answer:

C) False consensus

Explanation:

False consensus refers to the trust what one feel regarding other and think as similar for other person as he thinks. Also in this the opinions of the other persons would not be considered

Since in the question it is mentioned that the majority of the other store managers would feel the same way so here the false consensus would be applied

hence, the correct option is c.  

4 0
2 years ago
When the supply of a commodity decreases while demand remains the same price tends to:_____.
postnew [5]

When the supply of a commodity decreases while demand remains same then the same price tends to increase.

Given that the supply of a commodity decreases while the demand remains same.

We are required to find the effect of decrease of supply on the price of the commodity if the demand remains same.

Supply is the amount of good that the producer manufactures and sends to the market.

Demand is the amount of good that the consumer wants to consume.

When the supply of a commodity decreases,the supply will shift leftwards. The demand remains same then from the graph we can find that the price of the commodity increases from P to P1.

Hence when the supply of a commodity decreases while demand remains same then the same price tends to increase.

Learn more about supply at brainly.com/question/25843620

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3 0
1 year ago
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