The situation here is that the appraiser is:
- Taking a percentage for his services from the appraisal
Based on the given question, we can see than when an appraisal is made, the appraisal which is actually a written report that makes an estimate of the present value of a piece of property.
With this in mind, we can see that the appraiser preferred to take his payment from the percentage value of the <em>value of the property </em>which he appraised. This method is sure to give the appraiser more money than he would have made, especially if the value of the property was quite high.
Read more about appraisal reports here:
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Answer: Cash inflows include the transfer of funds to a company from another party as a result of core operations, investments or financing. Such cash inflows include payments to the company by customers and banks and the contribution of equity by investors who purchase the company’s stock or partial ownership in a company.
Cash outflows include the transfer of funds by a company to another party. Such cash outflows include payments to business partners including employees, suppliers or creditors. Cash outflows also occur when long-term assets are acquired, investments are purchased, or settlements and expenses are paid.
A business is defined as an organisation or enterprising entity engaged in commercial, industrial,or professional activities.
Answer:
Shopping product
Explanation:
Shopping products refer to those products which require considerable time, efforts in research, discussions and opinions and which are not purchased frequently.
Such products are purchased after careful evaluation of all the alternatives available to an individual and after comparison of prices and offers.
Consumers in such cases take considerable time in arriving at the buying decision, whether to buy or not, or to delay such purchases. Such purchases require research and significant efforts on part of the consumer.
Answer:
$556063.77 is the balloon payment in order to finish the loan in 8 years.
Explanation:
Firstly we will use the Present value formula annuity to find how much will we pay on a monthly basis for the 30 year mortgage loan so we are given :
Pv the present value of the mortgage is $1800000
i which is the interest rate 7.8%/12 as there will be monthly payments
is the number of payments which are 30 x 12 = 360 payments
then we substitute on the formula Pv= C[(1-(1+i)^-n) /i]
we are looking for C the monthly payments
$1800000= C[(1-(1+(7.8%/12))^-360)/(7.8%/12)] now divide by the coefficient of C both sides to solve for C
$1800000/[(1-(1+(7.8%/12))^-360)/(7.8%/12)] = C
$12957.66= C
now if the monthly payment is $12957.66 we will find how much we will pay in 8 years which will be $12957.66 x 12 x 8 = $1 243 936.23 now if this amount is covered for 8 years then the balloon payment is $1800000 - $1243936.23 = $ 556063.77 which is the remaining amount in present value terms, this is the balloon payment to finish the mortgage in 8 years.
