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
djverab [1.8K]
2 years ago
6

Darlene is getting an FHA-insured loan to purchase a house. The purchase price is $278,000, and she’s paying 3.5% down. She will

have to pay an upfront mortgage insurance premium of $4,865, which will be financed as part of the loan. What is the loan-to-value on this loan?
Business
1 answer:
omeli [17]2 years ago
4 0

Answer:

96.5%

Explanation:

Data provided in the question:

Purchase price i.e the value = $278,000

Down payment paid = 3.5%

Upfront mortgage insurance premium = $4,865

Now,

Amount of down payment = 3.5% of loan value

= 0.035 × $278,000

= $9,730

Therefore,

The loan value = value - Amount of down payment

= $278,000 -  $9,730

= $268,270

Thus,

loan-to-value on the loan = [ loan value ÷ value ] × 100%

= [ $268,270 ÷ $278,000 ] × 100%

= 96.5%

You might be interested in
Discuss the rationale of organizing an industrial strike in resolving employee dispute with the state, focusing on the detriment
WINSTONCH [101]

Answe

Explanation:

Discuss the rationale of organizing an industrial strike in resolving employee dispute with the state, focusing on the detrimental effects strikes has on various stakeholders in an economy

6 0
3 years ago
In 2009, regulations for credit cards were changed by A. agreements between bankers and borrowers. B. the Credit Cardholders' Bi
Leni [432]

Answer:

The correct answer is B. the Credit Cardholders' Bill of Rights.

Explanation:

Basically, the new rule is intended to protect consumers from an arbitrary increase in interest rates, fees, and other finance charges, and prohibits banks from raising interest based on the customer's past due payment history with another banking institution. In addition, entities must allow customers to pay their bills online or by phone, without charging an additional fee, and must notify 45 days in advance of any change in interest rates so that the customer has enough time to review the new terms.

5 0
3 years ago
Barry's Sport Shop calls Champs Tee Shirt Company to order 200 designer tee shirts at $2 per shirt. The next day, Barry decides
lara31 [8.8K]

Answer: No.

Explanation: Based on the initial agreement made between Champs Tee shirt company and Barry's sport shop, which was the de sealed for the purchase of 200 shirts at a price of 100. Even though additional demand of 100 t-shirts was made, Champs decided to send 200. Barry will be unable to force Champs to send the additional 100 because the transaction was made and agreed on verbally without any written. or signed document which could be tendered as evidence when trying to force Champs to send the additional 100

8 0
3 years ago
Janice and Thom form Level Corporation. Janice transfers equipment (worth $60,000, basis of $40,000) for 50% of the stock in Lev
WINSTONCH [101]

Answer:

Because this transaction MEET the control of the corporation requirement, Janice has income of $0 and Thom has income of $

Explanation:

Based on the information we were told that Thom provide service that is worth $40,000 which means that the amount of $40,000 is Thom income but we were not told that Janice has an income, which means that Janice will have an income of $0.

Hence, Because this transaction MEET the control of the corporation requirement, Janice has income of $0 and Thom has income of $

40,000.

6 0
3 years ago
Henrietta transfers cash of $75,000 and equipment with a fair market value of $25,000 (basis to her as a sole proprietor, $10,00
katovenus [111]

Answer

The answer and procedures of the exercise are attached in a image below****

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

3 0
3 years ago
Other questions:
  • Candela Company has retained earnings of $500,000, common stock of $400,000, and total common stockholders’ equity of $1,200,000
    7·1 answer
  • A respondent to a survey indicates that she drives a ford taurus. this is an example of qualitative data.
    9·1 answer
  • Emily works in the stockroom at a retail store for $10/hour on Saturdays. The store is within near walking distance of her home.
    10·1 answer
  • makes handheld calculators in two​ models: basic and professional. Aragon estimated $ 819 comma 500 of manufacturing overhead an
    13·1 answer
  • Which of these investments may pay dividends?<br> O Bonds<br> IRAS<br> Mutual funds<br> Stocks
    10·1 answer
  • Which is an example of a long-term goal? Group of answer choices I will pay my cell phone bill on time this month. I will train
    12·1 answer
  • Financial risk management is a component of enterprise risk management (ERM). ERM encompasses the methods and procedures used by
    12·1 answer
  • Elk, a C corporation, has $370,000 operating income and $290,000 operating expenses during the current year. In addition, Elk ha
    7·1 answer
  • Giving consumers product brochures to take home with them helps with ________, since many of them will not remember the details
    12·1 answer
  • When workers perceive they are being treated fairly on the job, they are most likely to.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!