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
pshichka [43]
3 years ago
8

On September 1, year 1, Jackson borrowed $400,000 to refinance the original mortgage on her principal residence. Jackson paid 2

points to reduce her interest rate from 7.5 percent to 7 percent. The loan is for a 30-year period. How much can Mary deduct in year 1 for her points paid?
Business
1 answer:
Mazyrski [523]3 years ago
7 0

Answer:

$88.88 or $89 (Approx)

Explanation:

Each point is equal to the 1 percent so, 2 points is equal to the 2%.

Amount of points paid = Borrowed amount × Points percentage

= $400,000 × 2%

= $8,000

Total number of months = Year × Months in a year

                                        = 30 × 12

                                        = 360

Number of months in the deduction year = September to December

                                                                     = 4

Amount of deduction:

= (Amount of points paid ÷ Total number of months) × Number of months in the deduction year

= ($8,000 ÷ 360) × 4

= $32,000 ÷  360

= $88.88 or $89 (Approx)

You might be interested in
Startup firms can struggle to gain lower prices from rivals, but FreshDirect seems to have found several ways to gain lower supp
chubhunter [2.5K]

Answer:

D. FreshDirect shares warehouse space with farmers and livestock producers

Explanation:

FreshDirect does not share its own resources with the supplier in order to get a lower rate. If it does that , he would be practicing a business model which has different entities attached to each other to work for greater goal.

Here, this is not the case. FreshDirect tends to look for out of the box ways to lower supplier cost but "FreshDirect shares warehouse space with farmers and livestock producers" is not one of those ways.

8 0
3 years ago
C&K Brewing Company is a microbrewery in western Canada. It produces Maiden’s Honor brand ale, a dark beer called Warrior’s
ehidna [41]

Answer:

The correct answer is letter "A": concurrent .

Explanation:

Concurrent control is adopted to regulate ongoing activities in an organization so that they can meet the company's standards. This type of control is chosen to ensure that the output will have the results expected. It implies measuring the quality of the processes at a certain point in time to determine to continue with them or not.

3 0
3 years ago
What is the differences and similarities between rental goods services and non goods services
alexira [117]

Answer and Explanation:

Rented-Goods Services are represented by retailom where consumers can own a good, or use a service for a specified time. As an example of this, we can mention hotel rooms, ski clothes, cars, houses, among others.

Nongoods Services are also represented by retail, but it presents personal services, where consumers can try them, judge them and then decide if they want to own them.

4 0
2 years ago
In its​ year-end income​ statement, Black Knights Company reported cost of goods sold of​ $450,000. Changes occurred in several
torisob [31]

Answer:

The answer is $330,000

Explanation:

Cash paid to suppliers is the total amount of cash paid to its creditors.

We can find that through:

Cost of sold

Minus: Decrease in inventory

Plus: Decrease in accounts payable

=Cash paid to suppliers.

Now let's start:

Cost of sold - $450,000

Decrease in inventory - $160,000

Decrease in accounts payable- $40,000

$450,000 - $160,000 + $40,000

=$330,000

Therefore, Cash paid to suppliers is $330,000

5 0
3 years ago
Why is a weather specialist important on major incidents?
Naddika [18.5K]

<span>Weather specialists or weathermen are reporters about weather warnings, with no formal meteorological training. Even though they have no formal trainings, they are important especially on major incidents because they are the ones who give forecasts or weather warnings. In so doing, they can protect people’s life and property. </span>

7 0
3 years ago
Other questions:
  • Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The demand for the company's product
    13·1 answer
  • Mirage Inc., a management consulting firm, plans to increase its profits by expanding its services to target new customers. It w
    15·1 answer
  • Is there an original mcdonalds building left?
    8·1 answer
  • From the 1970s through the 1990s, the relative price of a college education has increased greatly. During the same time period,
    7·1 answer
  • Barney decides to quit his job as a corporate accountant (which pays $10,000 a month) and go into business for himself as a cert
    6·1 answer
  • Joseph is a sales manager for ETC Corporation. ETC is a manufacturer of high-end kitchen appliances for restaurants. Nicole has
    6·1 answer
  • Wall-E makes 2 products, frames and hangers. Frames have a contribution margin per unit of $6.00 and hanger has a contribution m
    10·1 answer
  • Which of the following statements about a company’s realized strategy is true? A company’s realized strategy is usually kept sec
    10·1 answer
  • The AD Curve ________. A) indicates the level of aggregate output corresponding to different goods-market-clearinglevels of the
    5·1 answer
  • sells general merchandise directly from the manufacturer at a discount; items may be discontinued or have certain product flaws.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!