A foreclosure is a fee levied by your lender that represents pre-paid interest on your mortgage loan.
<h3>What is foreclosure?</h3>
foreclosure serves as the the action of taking in the possession of a mortgaged property in case they fail to meet up with mortgage payments.
In this case, A foreclosure is a fee levied by your lender that represents pre-paid interest on your mortgage loan.
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Answer:
simple interest
Explanation:
Simple interest is the amount of money that an investment earns during 1 given period, it is calculated by multiplying the principal amount of the investment by the interest rate = $4,000 x 4% = $160
On the other hand, compound interest is interest that gains more interest by itself. This means that the interest gained during a given period, will gain more interest itself for the next period. It is calculated using the following formula = principal amount x (1 + interest rate)ⁿ, where n is the number of periods.
Answer: $20,000
Explanation: This question deals with Compensated Absence.
A compensated absence refers to paid holidays and other paid time off. According to accounting principles, expenses are recognized in the same period they are incurred. When it comes to compensated absences that are deferred to a later year (or period), the amount must be recorded as a liability in the year they are incurred.
Because of this, $40,000 (an average of $800 per week for a total of 500 vacation weeks) will be charged to 2021 expense as a liability.
The amount of salaries expense related to 2022 compensated absence is the average 5% pay rise in 2022.
The amount is therefore 5% X $800 X 500 weeks = $20,000
Some of the mistakes that we made are:
- Getting loans unthoughtully
- Buying things that we don't actually need before we managed to fulfill all basic needs for our living.
- Too late to invest. In order to financially secure, it's best to set asie an investment and let the profit compound.
Answer:
The correct answer is B. Trend analysis.
Explanation:
The trend analysis is the method of analysis that consists in observing the behavior of the different items of the Balance Sheet and the Income Statement, to detect some significant changes that may have their origin in administrative errors.
This method allows us to know the direction and speed of the changes that have occurred in the financial situation of the company over time, so it is considered as a method of horizontal analysis.
It helps us to detect failures; but it is only an exploratory method, so it is always necessary to investigate further to find the causes of the failures. It is necessary to determine the changes suffered in the balances of the financial statement items that we are interested in analyzing. The trend analysis allows us to know the financial development of a company.
