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Molodets [167]
3 years ago
9

A lender estimates the closing costs on a home loan of $50,000 as listed below. If the lender's good faith estimates are accurat

e, are they a reasonable amount for closing costs? Why or why not?
Business
1 answer:
maxonik [38]3 years ago
7 0

Answer:

They are not a reasonable amount since the total estimated costs were $3,100 which represents 6.2% of the total mortgage loan. That number is way too high, usually closing costs are between 3-5% maximum of the mortgage loan.

Explanation:

Closing Cost                  Charge

Loan origination              $200

Title insurance                 $530

Attorney's fees                $600

Appraisal                          $265

Inspection                       $575

Recording fees               $130

Escrow                             $800

total closing costs estimated by the lender = $3,100 which represent 6.2% of the mortgage loan

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2 years ago
On January 1, Boston Enterprises issues bonds that have a $2,100,000 par value, mature in 20 years, and pay 7% interest semiannu
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Answer:

$73,500

Explanation:

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2 years ago
You are the owner of a smoothie shop in California. Afterhearing a podcast about customer relationship management (CRM), youdeci
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Answer:

Average Customer Retention rate = 80%  

Average Value of Sales per year per customer = $120  

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CLV =[1/(1- Average customer retention rate)] x (average value of sales per year per customer)-(average customer acquisition cost + average customer retention cost)  

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Answer:

The answer is b. False

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