Gainsharing plans are:

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the

masya89 [10]

Answer:

Affordable monthly mortgage payment $796

Affordable mortgage amount $119,699

Affordable home purchase price $149,625

Explanation:

1. Calculation for the Affordable monthly mortgage payment

Affordable monthly mortgage payment

=($3,200 x .38) – $185– $235= $751

Affordable monthly mortgage payment=$1,216-$185-$235

Affordable monthly mortgage payment=$796

2. Calculation for the Affordable mortgage amount

Using this formula

Affordable mortgage amount = Affordable payment/ Monthly mortgage factor *1,000

The monthly mortgage factor of a 30-year mortgage at 7% is 6.65.

Let plug in the formula

Hence,

Affordable mortgage amount

796/6.65 x 1000 =

Affordable mortgage amount=119.699×1000

Affordable mortgage amount=$119,699

3. Calculation for affordable home purchase price

Affordable mortgage amount=119.699×1000

Affordable mortgage amount=$119,699

3. Calculation for affordable home purchase price

Affordable home purchase price=119,699/ (1 - .20)

Affordable home purchase pr= $119,699/0.8

Affordable home purchase price=$149,625

Therefore:

Affordable monthly mortgage payment is $796

Affordable mortgage amount is $119,699

Affordable home purchase price is $149,625

5 0

3 years ago

You have a chance to buy an annuity that pays $550 at the beginning of each year for 3 years. You could earn 5.5% on your money

Oliga [24]

Answer:

$1,565

Explanation:

Enter the following inputs into financial calculator, we will have:

n = 3 years

Present value (PV): The amount that you should pay for the annuity. This is the missing value we need to calculate

Future value (FV): FV = 0, there is no future value of an annuity

PMT: The amount that annuity pays per year. ($850)

i/r = 5.5%: The interest you expect to receive from the annuity

PV = $1,484

Since the payment is made at the beginning of each year, you should multiply the PV amount by (1+0.055)

The final answer would be 1,484 x 1.055 = $1,565

The most you should pay is $1,565

7 0

3 years ago

Which of the following is likely to occur as a result of new legislation regarding automobile safety

r-ruslan [8.4K]

Answer:

The Department of Transportation will be given discretionary authority to create auto regulations.

Explanation:

The Supreme Court does not have to review legislation annually, they actually only need to review legislation if a case gets there.

Automobile safety standards are set by the federal government, not the state governments, and these type of legislation has nothing to do with the federal budget.

4 0

3 years ago

A corporation's board of directors are - the sole owners of the corporation. - control the day-to-day activities of the corporat

Alexeev081 [22]

Answer:

- control the day-to-day activities of the corporation.

Explanation:

The board of directors are people chosen by the instiution, the owners of the institutions or the members of an institution to govern the institution and be responsible for the actions and directions that the organization takes, they could be owners, workers or externate associates to the institution and they control the day-to-day activities of the corporation.

3 0

3 years ago

Different investments have different levels of ___________ (savings, risk, or interest) and offer different rates of return. For

fiasKO [112]

I the second one is more risky I'm not really that good at business

5 0

3 years ago

Read 2 more answers