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kenny6666 [7]
3 years ago
13

Jeanne and Mark are buying a home. They've been told their mortgage payment will be $1,072 per month. There's also an additional

amount of $335.62 being added to the monthly payment, bringing their total to $1,407.62. It was explained the additional $335.62 is to cover insurance and property taxes. Which loan definition applies?
Business
1 answer:
horsena [70]3 years ago
3 0

Answer:

This is an example of impound.

Explanation:

Impound is an account maintained by mortgage companies. It collects payments such as property taxes, hazard insurance, private mortgage insurance, etc. These payments though are not included in mortgage are necessary for keeping home.  

In the most simplest way it can be defined as an account used to hold to make payments for property taxes and insurance.

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6 0
3 years ago
Select a large U.S. public corporation you are familiar with or which interests you. It should be on the Fortune 500 list. Using
vazorg [7]

Answer:

Consider the following answers

Explanation:

Solution. (1) The name of a large U.S. public corporation is Walmart - Stores

(2) Website.

(3) A short profile of the Walmart coperation is given below: American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. Headquartered in Bentonville, Arkansas, the company was founded by Sam Walton in 1962 and incorporatedon October 31, 1969. It also owns and operates Sam's Club retail warehouses. As of January 31, 2018, Walmart has 11,718 stores and clubs in 28 countries, operating under 59 different names. The company operates under the name Walmart in the United States and Canada, as Walmart de México y Centroamérica in Mexico and Central America, as Asda in the United Kingdom, as the Seiyu Group in Japan, and as Best Price in India. It has wholly owned operations in Argentina, Chile, Brazil, and Canada.

(4) The fiscal year end date of the annual report you used is 2017

(5) Total assets on the balance sheet are $198,825 millions

(6) Total revenues on the recent income statement is $485,873 millions

(7) Net income on the income statement is $ 13,643 millions

(8) The basic earnings per share reported on the recent income statement is $4.38

(9) The depreciation method used by the corporation is  straight-line method

(10) The inventory method used by the walamrt is first-in, first-out (“FIFO”) method.

(11) There is only one class of stock i.e common stock)

the number of shares outstanding - 3.05

3 0
3 years ago
Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of
Vesnalui [34]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

7 0
3 years ago
Greg is the owner of a full-service car wash. For the month of December he paid $2,000 in rent, $700 in utilities, $2,950 in sal
galben [10]

Answer:

Break-even point= 713 car washes

Explanation:

Giving the following information:

For December he paid $2,000 in rent, $700 in utilities, $2,950 in salaries, and $50 on advertising. A full-service car wash costs $10.50. Unit variable costs per car wash are $2.50.

First, we need to calculate the total fixed costs:

Fixed costs= rent + utilities + salaries + advertising

Fixed costs= 2,000 + 700 + 2,950 + 50= $5,700

Now, using the following formula, we can calculate the break-even point in units:

Break-even point= fixed costs/ contribution margin

Break-even point= 5,700/ (10.5 - 2.5)= 713 car washes

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