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Sauron [17]
1 year ago
9

Housing expenses are commonly referred to as piti. what does piti stand for?a.principal, income, taxes, investmentb.payment, inv

estment, terms, insurancec.payment, interest, terms, incomed.principal, interest, taxes, insurance please select the best answer from the choices providedabcd
Business
1 answer:
Rasek [7]1 year ago
4 0

Correct option is d : principal, interest, taxes, insurance.

Housing expenses are commonly referred to as piti. piti stand for principal, interest, taxes, insurance.

Principal, interest, taxes, insurance or in other words  PITI are the sum components of a mortgage payment. Specially, components of the mortgage payment consists of the principal amount, loan interest, property tax, as well as  the homeowners insurance and private insurance premiums mortgage.

PITI is generally quoted on the monthly basis. It  is then compared to a borrower's monthly gross income for computing the front-end and back-end ratios of any individual.

To know more about PITI here:

brainly.com/question/1395659

#SPJ4

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The simple interest rate is 7% per year. if james deposits 10,000 at the end of 18 months coursehero
monitta

Deposit (PV): $10,000

Years between the 18th month and the fifth year (n) = 3.5

(I)=7% yearly interest rate

Simple interest approach accumulated value equals P*(1+(i*n)).

=1000*(1+(7%*3.5))

=1245

Thus, the total value at the end of five years will be $1245.

Compound interest method accumulated value equals P*(1+i)n

=1000*(1+7%)^3.5

=1267.19

Therefore, the total value after five years will be $1267.19.

Learn more about simple interest here ;

brainly.com/question/25845758

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4 0
2 years ago
Light emitting diodes (LED) light bulbs have become required in recent years, but do they make financial sense? Suppose a typica
tangare [24]

Answer:

Annual wattage cost of 60 watts is $3.729

Annual LED cost of 60 watts is $0.185

total annual cost = $3.914

Annual wattage cost of 15 watts is $0.935

Annual LED cost of 15 watts is $0.125

total annual cost = $1.06

l

Explanation:

For the cost of LED and durability

it is require to use a light fixture 500 hours per year

60-watt incandescent light bulb costs $.37 and lasts 1,000 hours. that mean, its last for 2years before buying a new one.

And for a 15-watt LED,  costs $3.00 and lasts for 12,000 hours, thats means it will last for 24 years before purchase of another.

assuming, will are using the 60watts for 24years, a cost of  $.37*12times = $4.44 will be use for buying.

therefore, a 15 watts LED is more cheaper.

For the current charges of LED

for 60watts

if A kilowatt-hour of electricity costs $.113 =

1000 watts = 1hour = $0.113

60 watts  = 1hour  = (60*0.133/1000) = $0.0068

it is said that, the consumption is for 500 hour per year.

therefore, 60watts used per year = 500*0.0068 = $3.39

return of 10% =0.339.

total cost of watts for 500hr for a year = 3.39+0.339 = $3.729

Annual wattage cost of 60 watts is $3.729

Annual LED cost of 60 watts ($0.37/2year) is $0.185

total annual cost = $3.914

for 15 watts

if A kilowatt-hour of electricity costs $.113 =

1000 watts = 1hour = $0.113

15 watts  = 1hour  = (15*0.133/1000) = $0.0017

it is said that, the consumption is for 500 hour per year.

therefore, 15 watts used per year = 500*0.0017 = $0.85

return of 10% =0.085.

total cost of watts for 500hr for a year = 0.85+0.085 = $0.935

Annual wattage cost of 15 watts is $0.935

Annual LED cost of 15 watts ($3/24 years) is $0.125

total annual cost = $1.06

6 0
3 years ago
The following transactions are for Crane Company. 1. On December 3, Crane Company sold $513, 500 of merchandise to Sheridan Co.,
serg [7]

Answer:

a) December 3, 202x, merchandise sold to Sheridan Co., terms 3/10, n/30

Dr Accounts receivable 513,500

    Cr Sales revenue 513,500

Dr Cost of goods sold 318,300

    Cr Merchandise inventory 318,300

December 8, merchandise allowance

Dr Sales returns and allowances 24,700

    Cr Accounts receivable 24,700

December 13, invoice collected from Sheridan Co.

Dr Cash 474,136

Dr Sales discounts 14,664

    Cr Accounts receivable 488,800

b) January 2, invoice collected from Sheridan Co.

Dr Cash 488,800

    Cr Accounts receivable 488,800

3 0
3 years ago
When the price at which the quantity of a product willing to be purchased by customers and the quantity of product willing to be
Olegator [25]
When the price at which the quantity of a product willing to be purchased by customers and the quantity of product willing to be made by a producer are equal, this is known as the equilibrium price. Equilibrium price is the price set by a market in which the amount of products that are supplied is equal to the amount of products that are demanded.
8 0
3 years ago
The following accounts were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet: Accumulated Deprecia
ludmilkaskok [199]

Answer:

all the given figures are wrong but i explained the correct procedure.

Explanation:

INCOME STATEMENT

Fees earned                            17400

Expenses:  

Depreciation expense      1300  

Insurance expense      400  

Supplies expense              3800     5500

Net Income                               11900

Therefore, The Net income for the period is $11900.

3 0
3 years ago
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