Answer:
Kindly check explanation
Step-by-step explanation:
Given the following :
Price of home = $220,000
Down payment = 20%
3 points at closing
30 years fixed rate mortgage at 7%
A.)The down payment :
20% of price
0.2 × $220,000 = $44,000
B.) Amount of the Mortgage :
Price - down payment
$220,000 - $44,000 = $176,000
C.) Amount to be paid for the 3 point of closing :
3% of mortgage amount
0.03 * $176,000 = $5,280
D.) monthly payment :
(mortgage amount(1 + rate)) / 30* 12
176000(1 + 0.07)
($176,000 + $12320) / 360
$523
E.) Total cost of interest :
0.07 * 176000 = $12,320
Answer:
A
Step-by-step explanation: I believe it's A because It's the opposite but I'm not 100% certain, because I don't remember inverse statements.
Answer:
The Bluejay Apartments
1. Tax Effects of the following Alternatives:
i. $1,000 damage deposit with no rent prepayment
No tax will be paid by The Bluejay Apartments until the deposit will no longer be refunded.
ii. $500 damage deposit and $500 rent for the final month of the lease
Tax will be paid on the rental income of $500 and on the $500 if it will no longer be refunded. If it is taken as part of the rent income for a month, then tax will be paid on a total income of $1,000.
iii. $1,000 rent for the final two months of the lease and no damage deposit
Tax will be paid on the rent income of $1,000.
b) From a tax point of view, option i is recommended.
Step-by-step explanation:
According to the IRS, a security or damage deposit is not taxable when it is received by the landlord. It becomes taxable income when the landlord is no longer obligated to return it to the tenant. The reason a damage deposit is not taxed is that it is recorded as an asset and not an expense or income.
Answer:
A={3,4,5,...,}
Step-by-step explanation:
Roster form means that we list each element of the set within curly braces
