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yan [13]
3 years ago
13

Del is buying a $250,000 home. He has been approved for a 5.75% mortgage. He was required to make a 15% down payment and will be

closing on the house on July 15. How much should he expect to pay in prepaid interest at the closing
Business
1 answer:
alukav5142 [94]3 years ago
4 0

Answer:

Del is expected to prepaid to pay $535.62 in prepaid interest at the closing.

Explanation:

The down payment of 15% is $250000*15%=$37500

The balance of mortgage net of down payment=$250000-$37500

                                                                               =$212500

Interest yearly=$212500*5.75%=$12,218.75

A year interest divided by 365days give one day interest.

A day interest=$12218.75/365=$33.48

Total interest  to pay at closing=16days*$33.48

                                                     =$535.62

The number of days was 16 because July has 31days and deal was closed on 15th,hence 31 minus 15 gives 16.

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Resembled to more developed countries, slight developed countries have a higher ratio of workers in the condition of goods and services the tertiary sector most individuals must produce food for their survival sector of the economizing.

<h3>What is the difference between a more developed country and a less developed country?</h3>

A developed country is a government that has a high level of automation and per capita income while a developing country is a country that is still in the early phases of industrial development and has a low per capita revenue.

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7 0
2 years ago
Jim is in the market for a car that will last for the next 10 years and has saved up some money for the purpose of a car. What’s
Bad White [126]
I'd say B, by leasing the car he'd save more money if it broke down or stopped functioning properly and if that happened he could lease a different car instead of paying multiple times to fix things that would most likely break down again because he owned it.
8 0
3 years ago
Economists expect the firm to maximize __________, the laborer to accept the best __________, and the consumer to find the combi
algol13

Answer:

The correct answer is option d.

Explanation:

The firms are expected to maximize profits, the laborers are expected to accept the best offer and the rational consumer is expected to choose the bundle of good that maximizes utility.

Firms will produce the output level where their profits are maximized. The consumer will consume at the level where their total utility is maximized and the laborer will accept the best offer to maximize his benefit.

7 0
3 years ago
Read 2 more answers
lue Inc. has decided to raise additional capital by issuing $171,000 face value of bonds with a coupon rate of 11%. In discussio
Dafna1 [17]

Answer:

Explanation:

Value assigned to bonds =

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Value assigned to warrants =

Value of warrants/(value of bonds without warrants+Value of warrants)

Value assigned to bonds = 115,200/(115,200+28,800) * 140,000 = 0.8*140,000 = 112,000

Value assigned to warrants = 28,800/144,000 * 140,000 = 28,000

Journal entries:

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5 0
3 years ago
Roscoe signs a written agreement with Philip, giving Philip the right to cast Roscoe's votes for a certain group of people nomin
WINSTONCH [101]

Answer: Proxy

Explanation:

 The proxy agreement is one of the type of legal or the authorized act which is done of the behalf of another person. By using this type of agreement we can easily done various types of legal formalities in the business management firm.

The proxy agreement should in the written format and specifically signed by the other member or party in the management. The proxy agreement is valid 10 months starting from the the date of issue.

According to the given question, the agreement between the Philip and the Roscoe is basically know  as the proxy agreement in the corporation.

Therefore, Proxy is the correct answer.

8 0
3 years ago
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