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
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.

You might be interested in
Some say, "Pollution is the price of progress? 1. Who in fact pays the price? 2. Explain the moral and the economic issues raise
klemol [59]

Answer:The answer is 1 The people pays the price, 2. Industrialization improved the standard of living of the people and increase the country Gross domestic product 3. Economic progress is the increase in output, economic development is the equitable redistribution of produced goods and services, the government must put in place a body to ensure the control of pollution of the environment by the industries.

Explanation:

Industrialization is the policy of setting up several industries in a country.it is regard as the surest way to the economic development of a country. It one of the real sector of the economy which can quickly facilitate the economic development. The process of industrialization as good as it is has a negative effect on the environment through the environmental pollution, pollution is the process of releasing harmful and injurious chemicals into the environment by the the industries which may result in a serious health and environmental hazard such as cancer, heart disease, and damage to other vital organs of the body .Therefore, the people is the one paying the price of the effect of pollution on the environment where they live.

The moral issue raised by the assertion is that industrialization is capable of bringing the people out of poverty in the sense that the major causes of poverty in the society is the lack of unemployment, therefore industrialization provide jobs for the people which help in improving their standard of living., and in turn lift them out of poverty into the life of affluence. On the other hand, industrilization is capable of improving the economic development of the country. It is one of the major ways to increase the country's Gross domestic product of the country, it help in raising the national incomes of the country..it also helps in the increase in the level of productivity of the economy. It increase the level of investment in the nation,it increases savings in the economy and help in reducing the prices of goods produced in the country.

The connection between economic progress and development is that, economic progress is the increase in the Gross domestic product or a national income of a country or the increase in the output of a country., for example if the national income of a country rises by 10% in a certain year we can say that the economy of such country has experienced a growth rate of 10% . On the other hand, if it falls by 5% we say that the country had experience a negative growth. While economic development is the attainment of a number of ideals of modernization such as a rise in productivity, social and economic equity improved institutions and values.economic development emphasises equitable distribution of produced goods and services which lead to increase in the social and economic well being of the people. Growth can be achieved with an increase in output but development can be achieved not only with increased output but also through equitable redistribution of existing goods and services. In the process of ensuring the economic progress and development it is very important to put in place a measure to control the effect of pollution on the environment by ensuring that industries channel their toxic waste appropriately in such a way that it will not lead to a serious health hazard of the people living in the environment where the industries is located. On the other hand, government should establish a body know as the environmental protection council who will be charged with the responsibility of ensuring that industries comply with the environmental laws put in place to protect the environment as well as to sanction the industries who fails to operate within the framework of the law.

5 0
3 years ago
A company paid $517,000 to purchase equipment and $16,700 to have the equipment delivered to and installed in the company's prod
Maslowich

Answer:

Using the units-of-production method, the amount of depreciation expense would the company report in the income statement prepared for the year-ended October 31, 2018 = $ 228899

Explanation:

Given

Acquisition Cost of Equipment = $ 517,000+ $ 16700= $ 533,700

Total units of production= 29,700 hours

Residual Value = $ 6700

Units of Production= 12,900 hours

Formula:

Depreciation per unit= (Cost -Salvage value) / Total units of production* Units of Production

Depreciation per unit= ($ 533,700 - 6700/ 29700)*12900

Depreciation per unit=($ 52,7000 / 29700)*12900

Depreciation per unit=( 17.744)*12900

Depreciation per unit= 228898.98= $ 228899

As units of production are given we do not need to calculate it for half year. The depreciation is calculated for units of production.

5 0
3 years ago
Despite the heavy reliance on e-mail, in certain situations calling may be the most efficient channel of communication, whether
Tju [1.3M]

Answer:

Option c and e                            

Explanation:

In simple words, Proper telephone etiquette becomes vital to business success as it is typically a consumer's initial point of contact so that reflects how your management  will handle them in those other communications. Ensure sure any consumer that calls your company gets a perfect, lasting experience.

Thus, one should talk to the client politely and be professional during the talks as it makes a positive impact of personality on the client.  

4 0
3 years ago
Trudy is Jocelyn's friend. Trudy looks after Jocelyn's four-year-old son during the day so Jocelyn can go to work. During the ye
Burka [1]
The answer is $34,990
3 0
3 years ago
Lavallee Self Storage purchased​ land, paying $ 160 comma 000 cash as a down payment and signing a $ 145 comma 000 note payable
Andrews [41]

Answer:

Land 373,500

Building 1,100,000

<u />

land improvements   67,000

Fence         55,000

Sign            12,000

Explanation:

Land cost:

cash                               160,000

note payable                   145,000

delinquent property tax     4,000

insurance costing                1,500

level the land                      3,000

soil                                <u>    60,000</u>

Total land:                      373,500

The land will be recorded for all the cost necessary to get it ready for use.

The soil, once added can't be differentiate from the original land. It is added to the land is not an improvement.

The office building will be for 1,100,000

land improvements will be the fence and signs:

fence 55,000

sign  <u>  12,000  </u>

total   67,000

3 0
2 years ago
Other questions:
  • The economy of Elmendyn contains 3,000 $1 bills.
    15·1 answer
  • What is the rate that the federal reserve banks charge financial institutions for loans called?
    8·1 answer
  • "jack is age 70, blind, and has adjusted gross income of $25,000 from a pension plan. his wife is 64 and they file a joint retur
    14·1 answer
  • Rising prices for raw materials, the increasing availability of recycling facilities, and a move toward increased environmental
    11·2 answers
  • Melinda invests $200,000 in a City of Heflin bond that pays 6 percent interest. Alternatively, Melinda could have invested the $
    5·1 answer
  • Joshua, an HR manager in a multinational firm, is recruiting employees for his firm. During the self-introduction stage, one of
    7·2 answers
  • Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $460,000. Shipping costs totaled $11,000. Foundat
    14·1 answer
  • Round Wheels, Inc. purchased a patent for $730,000, and a trademark for $320,000. Round Wheels, Inc. amortizes intangible assets
    11·1 answer
  • Insurance.Susan,a trained nurse,was recently elected to the U.S.Senate.Susan is very concerned about the lack of insurance for m
    11·1 answer
  • Which discipline studies the decision-making process of customers, workers, households, and business firms on an individual basi
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!