Home loan amount = $165,000
Estimated closing costs = $6,187.50
% of estimated closing cost = ?
$165,000 * x% = $6,187.50
x% = $6,187.50 ÷ $165,000
x% = 0.0375
x = 0.0375 x 100 = 3.75
Therefore, estimated closing costs = 3.75% of loan amount = 3.75% of $165,000
Actual closing costs = 3.5% of loan amount = 3.5% of $165,000 = $5775
Difference in estimated and actual closing cost percent = 3.75% - 3.5% = 0.25%
The closing costs were lower than the estimate by 0.25%
Answer:
Assertion: When radius of a circular wire carrying current is doubled, its magnetic moment becomes four times.
Reason: Magnetic moment depends on area of the loop.
(a)A
(c) C (d) D
(b) B
Answer:The entry to record the sale will include a Credit toPaid in Capital from treasury stock at $4,000.
Explanation:
Journal entry to record sale of shares
Accounts and explanation Debit Credit
Cash $18,000
Treasury stock $14,000
Paid in Capital from Treasury STOCK $4,000
Calculation
CASH = Number of shares x Price per share
= 400 x $45=$18,000
Treasury stock = Number of shares x Price per share
= 400 x $35=$14,000
Paid In Capital = Cash - Treasury stock= $18,000- $14,000= $4000
Answer:
The answer is: Consume more good Y and less good X.
Explanation:
The marginal utility of good Y is greater than the marginal utility of good X. This means that an extra unit consumed of good Y will give the consumer a grater satisfaction than consuming an extra unit of good X. So if the consumer wants to increase his total utility (satisfaction) he should buy more units of good Y.
Answer:
the variable cost ratio is 60 % (option d)
Explanation:
The variable cost ratio (VCR) represents the ratio of variable costs to sales. Therefore
VCR = (total variable costs)/(total sales)
since
total variable costs = variable costs * services provided = $21/hour * 12000 hours/year = $252000 /year
total sales = price of service * services provided = $35/hour * 12000 hours/year = $420000 /year
thus
VCR = ($252000 /year) / ($420000 /year) = 0.6 = 60 %
