you currently have $5600. First united bank will pay you an annual interest rate of 9.1, while second national bank will pay you
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A mortgage of $80,000 with 2 points means the borrower would have to pay at closing $800 is false because the real pay at closing is $1,600.
<h3>What is mortgage?</h3>A mortgage is a loan that is used to buy or to maintain a land, home, or other sort of real estate.
The borrower checks to refund the lender over a period of time, usually in an ordination of regular installments divided into principal and interest. The property is used as security for the loan.
According to the given information,
Mortgage Amount = $80,000
Points = 2
Let the 2 points is taken as a percentage:
Point 1 = 1%, and
Point 2 = 2%
Now, as we know that in the loan process, the amount of point is cyphered at the closing. Then, the closing cost is commuted as:
Therefore, the given problem is false, that the borrower have to pay $800, he would have to pay only $1,600.
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Answer:
A. The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would increase.
Explanation:
Complement goods are goods that are demanded together. An increase in demand for one good would lead to an increase in demand for the other good.
If the price of LCDs falls, the quantity demanded would increase. This would lead to an increase in demand for the players too. The increase in demand for the players leads to a rise in price of the players.
I hope my answer helps you.
