Ask question

Ask question

All categories

3 years ago

15

If you were buying a home valued at $215,000, what is the minimum down payment you would need in order to avoid paying private m

ortgage insurance (pmi)? pmi is requested to protect the lender from potential default loss when there is insufficient equity in a home.

1 answer:

Rudik [331]3 years ago

3 0

$43,000

To avoid paying PMI, you need to pay a minimum 20% down payment.

.2*215,000 = 43,000

You might be interested in

Crossroad Corporation is trying to decide whether to invest to automate a production line. If the project is accepted, labor cos

barxatty [35]

Answer:

kaby lame

Explanation:

Now don't get us wrong – not all of these answers raise this excellent question

8 0

3 years ago

Cazden Motors' stock is trading at $30 a share. Call options on the company's stock are also available, some with a strike price

slava [35]

Answer:

d. If Cazden's stock price rose by $5, the exercise value of the options with $25 strike price would also increase by $5.

Explanation:

A call option confers a right, not an obligation upon the call buyer to buy a security at a pre determined price, known as exercise price or strike price at a future date.

A call buyer would exercise his right only in the scenarios wherein the strike price is lesser than the current market price on maturity.

Profit of a call buyer is given by = CMP as on expiry - Exercise/Strike price - Option premium paid

wherein CMP= Current Market Price

A call option is "in the money" when it's strike price is less than it's current market price. In the given case, it means if the CMP today represents CMP upon expiry, call buyer would exercise his right and his gain would be $5 i.e $30 - $25.

Since the $25 exercise option is "in the money", an increase in stock price by $5 will also increase the strike price by $5.

8 0

3 years ago

Mr. smith wishes to retire in 11 years. when he retires he would like to have $500,000 in his bank account. mr. smith's bank pay

Simora [160]

The formula is
A=p (1+r)^t
A future value 500000
P present value. ?
R interest rate 0.06
T time 11 years
Solve the formula for p by dividing both sides by (1+r)^t to get
P=A/(1+r)^t
P=500,000÷(1+0.06)^(11)
P=263,393.76

he should deposit 263393.76 now to attain 500000

Hope it helps!

4 0

3 years ago

1. What do you call the basic unit of storage for computers?

vfiekz [6]

Answer:

I believe 1 would be A. "A file" and 2 would be C. "An application" Hoped this helped, if I'm wrong please let me know!

7 0

3 years ago

Henry wants to obtain an entry-level accounting position at a major accounting firm. Which educational degree will assist him in

PilotLPTM [1.2K]

Answer:

C. accounting specialization certificate

Explanation:

entry level position start with a short certificate in accounting

6 0

3 years ago

Read 2 more answers