Answer:
c) $110,000
Explanation:
The computation of the borrowing amount is shown below:
= Value of home × given percentage - current mortgage amount
= $200,000 × 80% - $50,000
= $160,000 - $50,000
= $110,000
For computing the accurate value, we have to deduct the current mortgage amount from the net value of home.
Since only 80% is related to the home value so we take only 80% and rest 20% would be ignored.
Answer:
If Mary decides to itemize her deductions, she can deduct $11,000 from her gross income (= $9,600 + $1,400).
Explanation:
For 2019, Mary can deduct mortgage interests from her first loan and the interests from her home equity loan as itemized deductions. Deductions are available for mortgage debt and other home equity loans up to $500,000 for single filers and $1,000,000 for married joint filers.
"An Inquiry into the Nature and Causes of the Wealth of Nations", or "The Wealth of Nations", written by Scottish economist and philosopher Adam Smith. One of the first collected descriptions of what builds a nation's wealth. Written at the beginning of the Industrial Revolution, it covers division of labour, productivity and free markets. Took 10 years to write with reference to 17 years of notes, based off of observations about economic and societal conditions. Offered more practical information for the time to replace mercantilist and physiocratic theories.
Answer:
I prepared the attached excel spreadsheet because there is not enough room here. The first payment is made on December 2019.
Answer:
4 houses per month.
Explanation:
Note: See the attached file for the calculation.
Efficient scale of production is can be described as the number of units of production where average total cost (ATC) of production is lowest.
From the attached file, the ATC of $70 is the lowest at 4 houses per month and 4 houses per month is therefore the efficient scale.
