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
DerKrebs [107]
3 years ago
10

Connie is buying a home using FHA financing, the purchase price is $108,000 the maximum LTV is 97.75% What is the minimum down p

ayment Connie can make?
Business
1 answer:
Veseljchak [2.6K]3 years ago
5 0

Answer:

$2,430

Explanation:

Given that,

Purchase price = $108,000

Maximum LTV = 97.75%

LTV refers to the maximum amount that a lender will considering to loan out which is the percentage of the value of the property.

Therefore, the minimum down payment that a Connie must make for taking a loan is as follows:

= Purchase price × (1 - Maximum LTV)

= $108,000 × (1 - 97.75%)

= $108,000 × 0.0225

= $2,430

You might be interested in
Tomasini Corporation has provided the following data from its activity-based costing accounting system:
Gelneren [198K]

Answer:

d. $192,000

Explanation:

The computation of the supervisory wages and factory supplies not be assigned is shown below:

= Supervisory wages × other percentage + factory supplies × other wages

= $780,000 × 10% + $380,000 × 30%

= $78,000 + $114,000

= $192,000

Hence, the correct option is d. $192,000

All other information i.e given in the question is not relevant Hence, ignored it

4 0
4 years ago
Assume that a company cannot determine the market value of equipment acquired by reference to a similar purchase for cash. Expla
Ghella [55]

Solution :

Let us suppose that a company cannot predict the market value of an equipment that acquired by the reference to the similar purchase for the cash. Thus the company finds cost of purchased of the equipment by exchanging :

-- the market price of the bonds when they have an established price in the market.

-- the market price of the bonds when the common stocks does not have a established market price.

-- market price of the equipment when the similar kind of an equipment have a determinable value in the market.

8 0
3 years ago
I'm new here. What do I do? I dont even know anyone
riadik2000 [5.3K]

Answer:

 if you have question on anything you can search it, if you found nothing simply post the question and someone may help you anytime.

Explanation:

4 0
3 years ago
Read 2 more answers
Which of the following is NOT one of the steps taken in the financial planning process? a. Develop a set of forecasted financial
svet-max [94.6K]

Answer:

B)Consult with key competitors about the optimal set of prices to charge, i.e., the prices that will maximize profits for our firm and its competitors.

Explanation:

The financial planning process can be regarded as series of steps which states best way of using money and investments as well as other assets so that financial goals can be potentially achieved. Most of the financial plans has its focus savings of goals as well as payoff goals even estate planning goals so that roadmap to financial freedom can be set.

The steps that can be taken in the financial planning process are;

✓ Forecast the funds that will be generated internally. If internal funds are insufficient to cover the required new investment, then identify sources from which the required external capital can be raised.

✓Develop a set of forecasted financial statements under alternative versions of the operating plan in order to analyze the effects of different operating procedures on projected profits and financial ratios

✓Determine the amount of capital that will be needed to support the plan. e. Monitor operations

5 0
3 years ago
An income statement for Tommy's Bookstore for the first quarter of the year is presented below: Tommy's Bookstore Income Stateme
Semmy [17]

Answer:

Contribution margin = $200,000

Explanation:

As per the data given in the question,

Contribution margin = Sales - Variable expense

Number of books = $880,000 ÷ $55

=16,000

Gross margin  = 340,000

Variable selling expenses = 16,000 × $6

=$96,000

Variable administrative expense = $880,000 × 5%

=$44,000

Total = $96,000 + $44,000

= $140,000

Contribution margin = $340,000 - $140,000

= $200,000

7 0
3 years ago
Other questions:
  • The vice president of HR, director of talent acquisition, director of talent development, and director of compensation and benef
    8·1 answer
  • The value of the cpi's "market basket" is determined by ________.
    8·1 answer
  • A giant telecommunications company that was previously owned by the government of Sunzabia, a European country, is sold to an in
    12·1 answer
  • ‘Bottom of the pyramid’ innovation refers to ancient Egyptian approaches to new
    10·1 answer
  • Fixed costs can be defined as costs that A. vary inversely with production. B. vary in proportion with production. C. are incurr
    10·1 answer
  • Which of the following is NOT a benefit of teamwork in an organization? A. Increased speedB. Decreased stressC. Reduced costsD.
    13·2 answers
  • Janet is shopping for bottles and formula for her four-month old baby. Last month, the price of her favorite brand of formula wa
    12·1 answer
  • Markung's Co. is 100% equity-financed company (no debt or preferred stock); hence, its WACC equals it cost of common equality. M
    5·1 answer
  • Suppose that Jim uses his budget to purchase 100 units of Good X and 100 units of Good Y. When the price of Good X rises, he pur
    13·1 answer
  • Who were some of the people aboard the titanic during its maiden voyage?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!