1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Natalka [10]
3 years ago
14

Phyllis bought a beach townhouse for $475,000 and put down $50,000 in earnest money. At closing, she paid $150,000, the balance

of her intended down payment. The mortgage tax in the area is $.35 per $100 (or portion thereof). Calculate what Phyllis will pay for the mortgage tax.
Business
1 answer:
Reil [10]3 years ago
4 0

Answer:

$962.50

Explanation:

Given the following :

Cost of beach townhouse = $475,000

Amount payed in earnest = $50,000

At closing = $150,000

Tax fee = $0.35 per $100

Total down-payment = $(50,000 + 150,000) = $200,000

Amount being taxed = $(475,000 - 200,000)

Amount being taxed = $275,000

Total tax paid :

($275,000 / $100) × $0.35

2750 * $0.35 = $962.50

= $962.50

You might be interested in
Denise Hunter had Thomasville brand living room furniture and wanted to buy a particular chair of the same brand. She made a few
miskamm [114]

Answer:

a specialty product

Explanation:

Based on the scenario being described within the question it can be said that For Denise, the chair can be categorized as being a specialty product. This is a product that very specific individuals will seek to purchase due to the product's unique characteristics or the individuals loyalty to a specific brand. Which is the case with Denise, since she is loyal to the brand and wanted a chair only from that specific brand.

7 0
3 years ago
Cheque issued for advertisement of rs 8000 journal entry​
Juli2301 [7.4K]

Answer:it is nice produre

Explanation:

7 0
2 years ago
What is the difference between an increase in demand and an increase in quantity demanded?.
Setler [38]

Answer:

Quantity Demanded is a shift up/down a demand curve

Increase in Demand is a shift in the curve itself.

Explanation:

There will be an increase in Quantity Demanded when price goes down. There is a Quantity Demand change when there is a price change. (QD goes up when Price goes down, QD goes down when price goes up)

An increase in demand is when one of the shifters of demand change. So for example, if number of consumers (one of the shifters) increase, the demand curve increases, and shifts right, meaning more quantity at each pricepoint.

4 0
3 years ago
Which of the following is an objection to relying solely on Return on Market Investment (ROMI) results?
masha68 [24]
The statement that <span>is an objection to relying that solely on Return on Market Investment (ROMI) results is that </span>"ROMI requires knowing what would have happened without the marketing expenditure." ROMI <span> is the contribution to profit attributable to </span>marketing<span> (net of marketing spending), divided by the marketing 'invested' or risked.</span>
4 0
3 years ago
Windsor, Inc. sells merchandise on account for $3700 to Morton Company with credit terms of 2/10, n/30. Morton Company returns $
IrinaK [193]

Answer:

Dr. Cash                          $2,842

Dr. Discount Expense    $58

Cr. Account Receivable $2,900

Explanation:

Terms 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

Sales = $3,700

Returns = $800

Amount Due = $3,700 - $800 = $2,900

As the payment is made within discount period, so discount will be availed

Discount = $2,900 x 2% = $58

Cash Paid = $2,900 - $58 = $2,842

7 0
3 years ago
Other questions:
  • A well-written job description should:
    6·1 answer
  • Indigo Company issues 11,300 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2020. The stock has a fair value o
    10·1 answer
  • The following is national income account data for a hypothetical economy in billions of dollars: gross private domestic investme
    14·1 answer
  • A The management of Gresa Inc. is reevaluating the appropriateness of using its present inventory cost flow method, which is ave
    9·1 answer
  • If the United States were to produce all of its own steel, rather than importing large quantities of steel from other nations, t
    8·1 answer
  • Compared to attending a technical school, completing a four year college degree allows you to
    14·2 answers
  • If the length of the axle was cut 5mm shorter, the volume would be reduced to 280.7mm3. What would be the new mass of the axle?
    10·2 answers
  • In January 2021, Vega Corporation purchased a patent at a cost of $200,000. Legal and filing fees of $50,000 were paid to acquir
    12·1 answer
  • Buchi owns several financial instruments: stocks issued by seven different companies, plus bonds issued by four different compan
    6·1 answer
  • Economic systems differ from one another based on who owns the factors of production and.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!