Answer:
Year 1 Year 2 Year 3 Year 4 Year 5 Net income $ 9,500 $ 23,500 $ 64,000 $ 35,500 $ 94,000
Explanation:
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The pros and cons of the Adjustable-Rate Mortgages are consistent payments and lower interest rates possible.
<h3>What is Mortgage?</h3>
Mortgage refers to the agreement between the lender and the buyer which involves the exchange of the money.
When person and a lender enter into a mortgage, the lender is granted the power to seize your property if person are unable to pay back the loan amount plus interest. Mortgage loans are used to either purchase a home or borrow against an existing home's worth.
Adjustable-Rate Mortgages is the loan which is granted for the homes which depends on the market as it does not has the fixed rate of interest.
The ARS mortgage type offers comfortable consistent payments, and over time, reduced interest rates may be feasible. However, there is a chance that interest will grow, which could be a drawback.
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Answer:
Fixed cost= $100
Explanation:
The high low method considers the level of highest activity and lowest activity, and compares cost at each of these levels.
It is a useful way of calculating variable cost and fixed cost.
The variable cost= (High activity cost - Low activity cost)/ (High activity units- Low activity units)
Variable cost= (1,100-900)/ (2,500-2,000)
Variable cost = 200/500= $0.4
Fixed cost= High activity cost- (variable cost* High activity units)
Fixed cost= 1,100- (0.4* 2,500)
Fixed cost= 1,100- 1,000
Fixed cost= $100
This prompt is about internal control. The observation that is most likely to indicate the existence of control weaknesses are;
- Management has not taken corrective action to resolve past engagement observations related to inventory controls. The estimation for the loss on financial statements is $250,000;
- Separation of duties is not proper in the supplier payments process. The estimation for the loss on financial statements is $50,000
<h3>What is internal control?</h3>
Internal control is a procedure carried out by a company's board of directors, management, and other people to offer reasonable confidence that information is trustworthy, accurate, and timely.
In terms of adhering to applicable rules, regulations, contracts, policies, and processes.
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Answer:
$9,435
Explanation:
If 100% of $10,000 face value gives the bond for $9,250
Then for 2% rise, that is, 102% of the bond will purchase = 102 X $9.250/100 = $9,435
∴ The approximate price of bond purchased = $9,435
