2.24. if you round 5.0176 down it is 5.
Answer:
Please see answers below.
Explanation:
A. Three important Items to double check before submitting a loan application to underwriting.
• Completeness of data : One has to be sure that all important details are captured hence none is left out. It means that there are no missing information on the application.
• Calculations performed accurately: This means that calculations such as borrower's income, qualifying ratios are calculated accurately and also double checked for the purpose of the loan underwriting.
• Documentations required by the loan programme. All Documentations required by the loan programme must be double checked before submitting a loan application to underwriting.
B. List at least two things you would be sure to tell a borrower in preparation for closing
• I will seek clarity in terms of the money borrower would be bringing to the closing table.
• The date,time,venue of closing are essential for the closing hence will be communicated to the borrower. Also, there are no right or wrong answers that may be asked or given by the borrower during the closing.
C. List at least three calculations that are typically used during the course of mortgage loan transaction.
• Income calculation
• Front end and back end ratio (DTI ratio)
• Monthly payment.
Answer:
The business will need to borrow $34,000
Explanation:
We will need to analyse the cash flows the business has in order to determine how much needs to be borrowed to meet the ending cash balance desired.
The opening cash balance is $23,000, cash inflow as receipts is $136,000
So total cash on hand will be 23,000+ 136,000= $159,000
The cash on hand less disbursements will give ending balance
Ending balance = 159,000 - 135,000
Ending balance= $24,000
Desired closing balance is $58,000
Balance to meet desired cash= 58,000 - 24,000
Balance to meet desired cash= $34,000
Answer:
2 years and 6 months
Explanation:
after 6months
$1,000 x 10% = $100
$1,000 + $100 = $1,100
after 1 year
$1,100 x 10% = $110
$1,100 + $110 = $1,210
after 1 year and 6 months
$1,210 x 10% = $121
$1,210 + $121 = $1,331
after 2 years
$1,331 x 10% = $133.10
$1,331 + $133.10 = $1,464.10
after 2 years and 6 months
$1,464.10 x 10% = $146.41
$1,464.10 + $146.41 = $1,610.51
<u>Answer:</u>
Jiffy-Pop’s popcorn, in this case, is an example of <u>innovative packaging.</u>
<u>Explanation:</u>
The days have passed when packaging is merely a means to secure and label an item. These basic tasks must be performed by packaging in a successful product, however the effect of packaging is progressively higher. It's often appropriate to create many design elements in tandem, so that they are the best and most efficient packages within the project's objectives and limitations.
A new update or innovation may attract customers who are searching for economic benefit or who think they have an unsatisfied need or want. In the case of Jiffy-Pop, the customer need not to buy a skillet and a bowl to cook and place the popcorn, in fact both these functions are performed by the outer innovative packaging done by the Jiffy-Pop’s popcorn itself. Thus, customers tend to buy this product more compared to others.
