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]
3 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]3 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
Budd, the purchasing agent for Lake Hardware Wholesalers, has a relative who owns a retail hardware store. Budd arranged for har
Anon25 [30]

Answer:

D. Purchase orders

Explanation:

A purchase order is a document legally binding a buyer and a sellerr. It is the official confirmation of an order.

It entails the details of the items the buyer agrees to buy at a certain price, the delivery date and terms of payment for the buyer.

Purchase orders includes details such as purchase order number, the shipping date, billing address, shipping address, quantities and price.

Purchase orders are used when buyers want to purchase goods from a seller, and helps sellers to track payment. It is prepared by the buyers.

5 0
3 years ago
Which of the following would further an economic goal of efficiency?
max2010maxim [7]

Answer:

The correct answer is (C)

Explanation:

Economics is all about allocating limited resources to attain maximum utility. In that regard, efficiency can be achieved by giving contracts to companies with higher productivity. These companies are all about attaining maximum productivity by investing limited resource. More productivity will increase the utility, and that will improve economic efficiency. So it is critical to give projects and contracts to certain companies which can increase the overall productivity.

7 0
3 years ago
A company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest. The present value of an annuity fa
Nat2105 [25]

Answer: $8,391.90

Explanation:

So the company borrowed $40,000 from a bank.

They are to pay 7% interest on the note per year for 6 years.

We are to find the annual payments.

7% represents a constant payment schedule per year so we can use an Annuity formula.

Seeing as the Annuity factor has been calculated for us already we don't need to formula though.

The present value of an annuity factor for 6 years at 7% is 4.7665.

Calculating the present value of the annual payment can be done as follows,

= Amount / PVIFA (Present Value Interest Factor for an Annuity)

= 40,000/4.7665

= 8391.90181475

= $8,391.90

The annual payments equal $8,391.90.

5 0
3 years ago
Marketing research will
sasho [114]

This practice allows a company to discover the target market and record opinions and other input from consumers regarding interest in the product

4 0
3 years ago
Read 2 more answers
Teams commonly used by companies like​ Toyota, Ford, and​ Cisco, which can coordinate complex projects with individuals from sim
Kitty [74]

Answer: ​Cross-functional

Explanation:

A ​cross-functional team is a group of organization that works together to achieve a functional goal. Toyota, Ford, and​ Cisco are doing so in this narrative.

4 0
3 years ago
Other questions:
  • Haberdash inc. last year reported sales of $12 million and an inventory turnover ratio of 3. the company is now adopting a just-
    8·2 answers
  • At the end of last year, the company's assets totaled $877,000 and its liabilities totaled $748,500. During the current year, th
    11·1 answer
  • The article said that experienced workers’ wages often rose? Why would this be so, and what
    15·1 answer
  • Decreases in the money supply affect the economy indirectly because A. interest rates decrease causing planned investment to inc
    9·1 answer
  • True or False. The standminus−alone cost allocation method ranks the individual users of a cost object in order of users most re
    12·1 answer
  • A loan is being repaid with level annual payments of $1,000. Calculate the outstanding balance of the loan if there are 12 payme
    6·1 answer
  • Texas Inc. has 10,000 shares of 6%, $125 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock ou
    13·1 answer
  • You are comparing two companies in the same industry. You have determined that Gore Corp. depreciates its plant assets over a 40
    9·1 answer
  • Smiley Industrial Goods has $1,000 face value bonds on the market with semiannual interest payments, 13.5 years to maturity, and
    11·1 answer
  • Left ventricular mass (LVM), determined from echocardiograms, is an important risk factor for subsequent cardiovascular disease.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!