1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
trapecia [35]
1 year ago
10

a mortgagge loan in which the interest rate charged fluctuates with the level of current interest rates is called

Business
1 answer:
solmaris [256]1 year ago
8 0

Variable interest rate mortgage loans have an interest rate that varies depending on the level of current interest rates.

An interest rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rate or index that is interest rates subject to Variable interest rate regular changes is known as a variable interest rate (also known as an "adjustable" or "floating" rate).

A variable interest rate has the obvious advantage that if the underlying rate or index decreases, so do the borrower's interest payments. On the interest rates other hand, if the underlying index increases, interest payments rise. Fixed interest rates are stable, as opposed to variable interest rates.

Variable interest rate mortgage loans have an interest rate that varies depending on the level of current interest rates.

Learn more about Variable interest rate here

brainly.com/question/2496648

#SPJ4

You might be interested in
ProForm acquired 70 percent of ClipRite on June 30, 2017, for $770,000 in cash. Based on ClipRite's acquisition-date fair value,
11Alexandr11 [23.1K]

Answer and Explanation:

The computation is shown below:

The amount of consolidated sales balance is  

Proform Sales 820,000

Cliprite Sales 640,000

Less: Intra-entity Sales -270,000

Consolidated Sales Balance $1,190,000

The amount of consolidated cost of goods sold balance is

Proform's Cost of Goods Sold Book Value 545,000

Cliprite's Cost of Goods Sold Book Value 410,000

Less: Intra-Entity Transfers -270,000

Adjusted Gross Profit Deferred in 2017 [(110,000 - 71,000) × 30%] -11,700

Deferral of 2018 Intra-Entity Gross Profit [(270,000 - 210,000) × 10%] 6,000

Consolidated Cost of Goods Sold Balance $679,300

The amount of consolidated operating expenses balance is  

Proform's Operating Expenses Book Value 120,000

Cliprite's Operating Expenses Book Value 110,000

Amortization of Intangible Assets 12,000

Consolidated Operating Expenses Balance $242,000

The amount of consolidated dividends balance is $0 as there is an elimination in consolidation.

The amount of net income attributed is  

Cliprite's Reported Income for 2018 120,000

Less: Amortization of Intangible Assets -12,000

Cliprite's Adjusted Net Income 108,000

Net Income Attributable to Non Controlling Interest (108,000 × 30%) $32,400

The amount of consolidated inventory balance is  

Proform's Operating Expenses Book Value 310,000

Cliprite's Operating Expenses Book Value 720,000

Intra-Entity Gross Profit [(270,000 - 210,000) ×  10%] -6,000

Consolidated Inventory Balance $1,024,000

The value of noncontrolling interest in subsidiary is  

30% of Opening Book Value [(870,000 + 300,000) × 30%) 351,000

Excess January 1 Intangible Allocation [(450,000 - 12,000 ÷ 2) × 30%)] 133,200

Net Income Attributable to Noncontrolling Interest 32,400

Dividends (70,000 ×  30%) -21,000

Non Controlling Interest, 12/31/18 $495,600

6 0
3 years ago
Beginning inventory for the month contained 2,000 units that were 70 percent complete with respect to materials. During the mont
pickupchik [31]

Answer:

a. 60,600

Explanation:

Given,

The number of units completed and transferred out = 6000,

Ending inventory = 3,000,

Percentage of completed units with respect to materials = 20%,

So, the additional completed units = 20% of 3000

=\frac{20\times 3000}{100}

=\frac{60000}{100}

= 600

Hence, the weighted average equivalent units of production for materials for the month = 60,000 + 600

= 60, 600

OPTION A would be correct.

6 0
3 years ago
Kellogg's sells many different breakfast cereals, including Corn Flakes, Rice Krispies, Frosted Flakes, Raisin Bran, and Special
11Alexandr11 [23.1K]

Answer:

The answer is false

Explanation:

Breadth, refers to the number of product lines  offered by a firm

6 0
3 years ago
Emco Company uses direct labor cost as a basis for computing its predetermined overhead rate. In computing the predetermined ove
Andru [333]

Answer:

B. overstate the predetermined overhead rate.

Explanation:

As we know

The Predetermined overhead rate would be equal to

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours or machine hours)

In the given question, the direct labor cost is used for computing the predetermined overhead rate which is already wrong.

To find out the predetermined overhead rate, we always use the indirect cost instead of direct cost

This error could overstate the predetermined overhead rate as it would increase the indirect labor due to which overhead is also increased. So, automatically the rate would also be increased.

8 0
3 years ago
Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory wa
Dimas [21]

Answer:

COGS= $598,020

Explanation:

Giving the following information:

Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use.

We need to deduct the inventory used for personal use.

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 67,000 + 610,000 - 77,200 - 1,780

COGS= $598,020

3 0
3 years ago
Other questions:
  • What does it mean to have liability for a company
    11·2 answers
  • He degree to which an organization achieves a stated goal rehttps://.com/35621172/mgt-3013-ch-2-flash-cards/
    9·1 answer
  • Use the table and proivded and explain the law of diminshing returns<br><br>plz help asap ​
    10·1 answer
  • Cumulus Corp. wants to generate goodwill among its customers. It aims at gaining a favorable impression that can positively impa
    6·2 answers
  • If the interest rate on a savings account is 0.01%, approximately how much money do you need to keep in this account for 1 year
    6·1 answer
  • Dawn grew up helping her father work on cars in his auto repair shop and developed into an excellent auto technician. Because of
    14·1 answer
  • A frequently used form of overdraft protection is A. when a merchant refuses to accept checks and therefore never has any checks
    9·1 answer
  • Van Den Borsh Corp. has annual sales of $68,735,000, an average inventory level of $15,012,000, and average accounts receivable
    7·1 answer
  • Solve: 2 2 – 8x +4 = 0
    9·2 answers
  • The impact of Furman v. Georgia (1972) was that states had to
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!