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Tomtit [17]
4 years ago
12

A borrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. The first two years of the loan

have a "teaser" rate of 4%, after that, the rate can reset with a 2% annual rate cap. On the reset date, the composite rate is 5%. What would the Year 3 monthly payment be? Group of answer choices
Business
1 answer:
Lana71 [14]4 years ago
8 0

Answer:

$1,067 is the correct answer.

Explanation:

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On January 1, Bloomingdale, Inc. borrows $92,000 from First Estate Bank. The loan is due in one year along with 4% interest. The
otez555 [7]

Answer:

d. $920 increase liabilities, increase expenses

Explanation:

The journal entry is given below:

On March 31

Interest Expense Dr. $920 ($92,000 × 4% × 3 ÷ 12)

            To Interest Payable $920

(being interest expense is recorded)

Here interest expense is debited as it increased the expense and credited the liabilities as it also increased the liabilities

Therefore the option d is correct

4 0
3 years ago
Nikki loves order and efficiency. She works to make sure that the supply chain is running properly and loves to
Naily [24]

Answer:

Distribution and Logistics

Explanation:

Logistics are the activities of a company related to distributions of its product. It encompasses all efforts of moving goods from the factory to the retailers for sale to the customers. Transport and warehousing are part of logistics.

The distribution and logistics department plans, organize, and manages the movement of products to their intended destination. Nikki is most likely to be in the distribution and logistics career path. She ensures that the supply chain is running efficiently and tracts the movement of products.

7 0
3 years ago
Read 2 more answers
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches
shutvik [7]

Answer:

Fixed Overheads Spending Variance = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = $20,000  Favorable (F).

Explanation:

Fixed Overheads Spending Variance = Actual Fixed Overheads  - Budgeted Fixed Overheads

                                                              = $305,000 -  $300,000

                                                              = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = Fixed Overheads at Actual Production  - Budgeted Fixed Overheads

                                                              = ($5.00 × 64,000) - $300,000

                                                              = $320,000 - $300,000

                                                              = $20,000  Favorable (F)

3 0
3 years ago
Have a happy day and hows is your day
mestny [16]

Answer:

my day is good and i hope you have a good day as well

Explanation:

7 0
3 years ago
XYZ Company desires a successful product launch for its new product venture. Looking outside of its industry, the company solici
olga nikolaevna [1]
Periodic is the answer
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