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
Hunter-Best [27]
3 years ago
7

A lender estimates that the closing costs on a $312,500 home loan will be $12,500. the actual closing costs were 4.25% of the lo

an amount. determine if the closing costs were higher or lower than the estimate and by what percent.
a. higher by 0.125%

b. higher by 0.25%

c. lower by 0.125%

d. lower by 0.25%
Business
2 answers:
IceJOKER [234]3 years ago
8 0
<span>The answer is B. higher by 0.25%.
</span>
Ilya [14]3 years ago
3 0

Answer:

b. higher by 0.25%

Explanation:

The closing costs were higher because:

$312,500*4,25%= $13,281

The estimated closing costs were $12,500 and the actual value was $13,281.

Also, to determine the percent by which the costs were higher, we have to calculate what percentage of the home loan were the estimated closing costs of $12,500. So,

$12,500/$312,500= 0,04*100= 4%

The estimated costs were 4% of the loan amount and the actual closing costs represent 4,25%. According to this, the actual closing costs are higher by 0,25%.

You might be interested in
When the lender provides the borrower with an amount of funds that must be repaid to the lender at the maturity date, along with
xxMikexx [17]

Answer:

This is called a <em>simple interest rate.</em> When the loan amount must be repaid to the lender at the maturity date, along with an additional payment for the interest.

To calculate <em>simple interest rate</em>, the interest rate payment is divided by the loan amount.

Explanation:

This is called a <em>simple interest rate.</em> When the loan amount must be repaid to the lender at the maturity date, along with an additional payment for the interest.

To calculate <em>simple interest rate</em>, the interest rate payment is divided by the loan amount.

4 0
4 years ago
At December 31, 2020, Ivanhoe Corporation had a deferred tax liability of $26,800. At December 31, 2021, the deferred tax liabil
Tju [1.3M]

Answer:

$65,300

Explanation:

Ivanhoe's income tax expense = deferred tax liability 2021 - deferred tax liability 2020 + current tax expense 2020 = $42,800 - $26,800 + $49,300 = $65,300

A deferred  tax liability occurs when a corporation's income statement shows a certain amount following US GAAP, but the tax rules used by the IRS determine a different amount.

5 0
3 years ago
When should a writer establish common ground before the bottom line statement?
exis [7]
<span>Sometimes a reader may have a different opinion and may not agree with the bottom line statement of the author.When this disagreement arises a writer will have to establish common ground before the bottom line statement.</span>
5 0
3 years ago
Read 2 more answers
How can a firm increase the life of a product without involving product changes? a. reintroduction b. product extension c. new p
Vitek1552 [10]

When a firm is experiencing lesser profit it can come up with different strategy to improve its present product rather than developing new product because improving present product involves lesser cost therefore more profit. The answer is B. Product Extension and C. New product placement.

Reintroduction is one way, it is launching the product using more creative sales and marketing strategy. It can target a new market segment, provide more information about the product and use more appealing advertisements. The product’s packaging can also be changed to make it look more attractive and fresh.

Product extension can be use as it is targeting a new market. It can involve exporting the products. This strategy may be costly but when successful will level up your product’s quality as it passed exporting quality. It is changing the market NOT the product.

New product Placement is a strategy where in the products are advertised by placing it in media. The products are shown for example in movies, the character uses the products that way it can give awareness to the viewers how the products can be used and also the brand and name of the products are advertised without direct reference to the product. It doesn’t involve changing the product’s feature only the product placement is changed to a new one.

<span>Rebranding can also be used. It is introducing your product with a new name, changing the product’s name not only its packaging but the total appearance. It gives the product a whole new image to target new image audience or expand its audience.</span>

3 0
3 years ago
A code of ethics: a should be kept confidential from a firm's employees. b should be limited to a list of dos and don'ts. c shou
charle [14.2K]
<span>The correct answer is (d) should be in written form to avoid confusion. A code of ethics that is simply verbal can lead to a lot of confusion as employees will not actually know it entirely. Being in written form allows everyone in the company to refer to it and follow it.</span>
6 0
3 years ago
Other questions:
  • Factor Co. can produce a unit of product for the following costs: Direct material $ 8 Direct labor 24 Overhead 40 Total product
    11·1 answer
  • Keeping in mind kinetic energy of a moving vechile , how can a driver best prepare to enter sharp curves in the roadway ?
    8·1 answer
  • The company responsible for the rely tampon used all of the tactics in marketing its product and in defending itself, except:
    12·1 answer
  • The difference between a merger and an acquisition is
    14·1 answer
  • Suppose there are only two types of goods
    15·1 answer
  • You are given the following information: Stockholders' equity as reported on the firm’s balance sheet = $4 billion, price/earnin
    15·1 answer
  • "______ accounting uses adjusting entries to reflect economic reality even when there is _______ involved in the transaction. Th
    8·1 answer
  • The bonds issued by Stainless Tubs bear an 8 percent coupon, payable semiannually. The bonds mature in 11 years and have a $1,00
    7·1 answer
  • Tara purchased a machine for $40,000 to be used in her business. The cost recovery allowed and allowable for the three years the
    15·1 answer
  • To succeed in today's competitive marketplace, companies need to be customer centered. Each company must divide up the total mar
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!