Answer:
Mary can deduct $1,300 in year 1 for her points paid.
Explanation:
a) Data and Calculations:
April 1, Amount borrowed by Mary to refinance the original mortgage on her principal residence = $130,000
Payment of 1 points to reduce Mary's interest rate from 7% to 6% amounts to 1% of $130,000 = $1,300.
b) Mary paying 1 points is beneficial to her since her interest cost is reduced from 7% to 6%. This implies that her total finance cost at the end of the 30-year period will be reduced.
Answer:
It will take 16.89 years for the account to increase to $2 million
Explanation:
Present Value = $400,000
Nominal annual interest rate = 10% compounded annually
Future Value = $2,000,000
Number of compounding periods = ?
Formula:
Future Value = Present Value * (1+Nominal annual interest rate)∧Number of compounding periods
$2,000,000 = $400,000 * (1+0,1)∧Time
We can then proceed to solve the equation:
16.89
Answer:
b. generating some kind of social impact
Explanation:
Business ventures are established with a profit motive. The investor risks their resources, time, and efforts in the expectation of making profits. The investor and his or her business manager employ their skills and experiences to ensure that the business is profitable.
Not-for-profit organizations are formed to provide a service to specific members, a section or entire society. They aim at improving the well being of the community by providing essential services. Not for profit organization offer free services or charge a minimum fee. They get funding from members or founders of the organization or may receive donations from institutions and the general public.
At base, the mainstream concept of poverty translates to c. unfulfilled material needs.
<h3>What is Poverty?</h3>
This refers to the financial state of not being able to afford the basic needs of a person.
Hence, at the base level, the mainstream concept of poverty translates to "not enough money in the pocket" which has to do with low or insufficient purchasing power and this leads to a list of c. unfulfilled material needs.
Read more about poverty here:
brainly.com/question/9640781
Answer:
i The answer is going to be a. true