Which employer pension plan has an individual account for each employee?

Your mortgage is a 30-year fixed at 8% on $150,000. You are considering refinancing at 3.5% fixed for 30 years. The bank charges

Ilya [14]

Answer:

Option A,4 months

Explanation:

Closing fees =1.5% of the mortgage

mortgage amount is $150,000

closing fees =$150,000*1.5%=$2250

The mortgage monthly payment can be computed using the pmt formula in excel as follows:

=pmt(rate,nper,-pv,fv)

rate is the rate per month which is 3.5%/12=0.002916667

nper is 30 years multiplied by 12 =360

pv is the amount of mortgage which is $150,000

fv is the sum of the interest on mortgage and mortgage amount which is unknown

=pmt(0.002916667 ,360,-150000,0)= 673.57

the final answer=closing fees/monthly payment=$2250 /$673.57 = 3.34 months

The closest option is 4 months

8 0

4 years ago

Read 2 more answers

Lupe's recorded balance was off by $43, and she thinks that it’s because she made a mistake in her records. What mistakes did sh

Ierofanga [76]

Lupe entered her paycheck in the wrong column. She also forgot to record one of her purchases.

4 0

4 years ago

Read 2 more answers

Compare items that are exempt and nonexempt from Chapter 7 fillings. ( does A B C or D go with 1 or 2)(each letter must go with

Lilit [14]

Household appliances and pension are exempt
second car and heirlooms are not
#platolivesmatter

6 0

4 years ago

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Vanessa grant is responsible for controlling expenses, but is not responsible for generating revenues. vanessa grant is a manage

rewona [7]

Vanessa Grant is responsible for controlling expenses, but is not responsible for generating revenues. Vanessa Grant is a manager of a(n):

Cost Center

What do you mean cost center?

A cost center is basically a department or function under an organization that do not directly increases profit but still costs the organization money to operate. Cost centers only provide to a company's profitability indirectly, unlike a profit center, which gives to profitability directly through its actions.

What is an example of a cost center?

Instances of cost centers contains the accounting, human resources, IT, maintenance, and research & development departments. A cost center can be assumed at a smaller level than a department. It could contain a particular job position, machine, or assembly line.

Learn more about cost center:

brainly.com/question/1156860

#SPJ4

6 0

2 years ago

If the average annual rate of return for common stocks is 11.7 percent, and 4.0 percent for U.S. Treasury bills, what is the ave

Vanyuwa [196]

Answer:

7.7%

Explanation:

Risk premium is the return an investor would want for holding a risky bond. It is the excess return earned over holding a risk free bond

Risk premium = return on risky asset - return on U.S. Treasury bills

The U.S. Treasury bills is considered to be risk free because the US government cannot default

On the other hands, stocks are risky because companies can default on payment of dividends due to various reasons e.g. insolvency

11.7 - 4 = 7.7%

3 0

3 years ago