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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

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I don’t know what you’re telling me to do here! Where’s the question ?
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3 years ago
On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,2
Svetradugi [14.3K]

Answer:

$31,100

Explanation:

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300.

Therefore the amount of stockholders’ equity as of May 31 of the current year can be derived by the formula : Capital = Assets - Liabilities

<u>Assets</u>

Cash $20,500;

Accounts Receivable, $7,250;

Supplies, $650;

Equipment, $12,000

TOTAL = 40,400

<u>Liabilities</u>

Accounts Payable, $9,300.

Therefore stockholders’ equity = 40,400 - 9,300 = $31,100

7 0
3 years ago
3. Imagine that you are working at a clothing or grocery store, and answer the questions
Deffense [45]

B. To help determine how much inventory to keep in stock of each item in the outlet, I would consider two factors. The first one is the <u>certain amount of each item type </u>in the first week - determining the number of each items input in the stock to be the original data to compare. The second is the <u>number of items sold and still on stock</u>. This would help determine invetory to keep in stock.

B. If I was running a store, I would prefer to use the pick up at store buying method. There would be cashier at the register to check the products and bills as well as receive money from the customers. This is the traditional and still always the most common methods. As the fact that people nowadays still like shopping in physical store, this is definitely the most effective method.

C. The inventory control method I would use when operating a store is to adopt modern technology like bar code to control the inventory stock. By using this technology, I would need to consider the <u>bar code</u> for each type and establishing <u>software</u> to automatically input the information about the number of items sold and in stock. With inputting the number of total items at the beginning and giving each item its corresponding bar code, the sales or number of stock would be tracked by the software.

D. An example of two commodities to be displayed together at store is <u>pencil and rubber</u>. Pencil and rubber undoubtedly are complementary products of each other. Complementary products are made to be used together. Each item requires the other for their complete uses. This is also the case of Rubber and Pencil and each item would not be fully used without the presence of the other.

4 0
3 years ago
What does sustainability refer to?a. the ability of a company to maintain high profits despite cutting pricesb. the ability of a
Veseljchak [2.6K]

Answer: Sustainability refers <u><em>to ability of a company to maintain high profits despite cutting prices</em></u>

It is defined as the procedure of individuals maintaining alteration in a harmonious surroundings, here the exploitation of commodities and resources, investments, technological development and organizational changes are in concord and heightens actual and forthcoming potential to meet needs and aspirations.

8 0
3 years ago
Geraldo is a vice president at Magnolis Inc. He, along with a few other individuals in his rank, is responsible for setting the
jok3333 [9.3K]

Answer: Top management

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In the above case, Geraldo is the vice president of the company and also he is responsible for determining the directions of operations of the company thus we can consider him in the top management.

7 0
3 years ago
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