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3 years ago

Clarence is purchasing a $142,000 home with a 15-year mortgage. He will

Business

1 answer:

Dominik [7]3 years ago

8 0

Answer:

prime mortgage insurance (PMI) is an insurance that mortgage lenders require when borrowers make a down payment of less than 20% of the purchase price of the house.

We are not given any table, so I looked in the internet to find one that can be used as an example:

outstanding principal = $142,000 - 17% = $117,860

mortgage term equal or less than 15 years
base loan amount is less than $625,000
loan to value ratio = 1 - down payment = 83%, which means it is ≤ 90%
bps = 45

total yearly premium = principal x bps = $117,860 x 0.0045 = $530.47

monthly PMI payment = $530.47 / 12 months = $44.20

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Jamal tried to apply for a mortgage. However, he was turned down for the loan because the loan officer noticed that he had made

tino4ka555 [31]

Answer:

The two questions that he must ask from himself are:

Do you have credit report?
Do you have good credit score?

Explanation:

The reason is that the banks are giving you money and are worried about whether or not you are going to pay them back or not. So they require some evidences whether the person has any credit report and good credit score which shows that the person will be worried to pay the bank and if he is not able to pay he find alternative as he is a responsible person. So these two questions assesses whether the person is capable to pay the mortgage.

7 0

3 years ago

The costs incurred by a business in an effort to avoid bankruptcy are classified as _____ costs. Flotation Direct bankruptcy Ind

poizon [28]

Answer:

The correct answer is indirect bankruptcy costs.

Explanation:

Indirect costs are considered to be damage to the image and reputation of the company, lost investment opportunities, credit restrictions, conflicts with suppliers, loss of sales, conflicts with workers. Indirect costs are usually much higher than direct costs.

6 0

4 years ago

Sponsorship is an effective marketing strategy, particularly for sporting goods and recreational equipment.

Kitty [74]

Answer:true

Explanation: just took the test

5 0

3 years ago

1. According to Wallach, what is short-termism, and why is it a problem?

Aleks04 [339]

I inferred you are to the 2017 TEDx talk "Short-termism is killing us: it's time for Long path" by Ari Wallach.

<u>Explanation:</u>

According to Wallach, he refers to short-termism as focusing on short-term results at the expense of long-term interests.

In his words, short-termism is a problem because;

"it prevents the CEO from buying really expensive safety equipment"
"prevents teachers from spending quality one-on-one time with their students".

So in summary what Wallach is saying is that short-termism prevents futuristic thinking.

6 0

3 years ago

Lillich, Inc., manufactures and sells two products: Product U6 and Product R5. Data concerning the expected production of each p

Gelneren [198K]

Answer:

Lillich, Inc.

The unit product cost of Products U6 under activity-based costing is closest to: $1,460

Explanation:

a) Data about expected production of Products U6 and R5:

Expected Direct Labor-Hours Total Direct

Production Per Unit Labor-Hours

Product U6 640 8.4 5,376

Product R5 1,015 5.4 5,481

Total direct labor-hours 10,857

The direct labor rate is $27.50 per DLH.

Direct Materials Cost per Unit Product U6$249.30 Product R5 $166.70

Activity Cost Pools Activity Estimated Expected Activity

Measures Overhead Product U6 Product R5 Total

Cost

Labor-related DLHs $ 196,138 5,376 5,481 10,857

Production orders Orders 67,340 800 700 1,500

Order size MHs 1,015,108 5,400 5,700 11,100

$1,278,586

Overhead Costs:

Product U6 Product R5 Total

Labor-related overhead costs $97,121 $99,017 $196,138

Production orders 35,915 31,425 67,340

Order size 493,836 521,272 1,015,108

Manufacturing overheads $626,872 $651,714 $1,278,586

The direct labor rate is $27.50 per DLH

Product U6 Product R5 Total

Expected Production 640 1,015

Direct labor hours 5,376 5,481 10,857

Direct Materials Cost per Unit $249.30 $166.70

Direct material costs $159,552 $169,200.50 $328,752.50

Direct labor costs 147,840 150,727.50 298,567.50

Manufacturing overhead 626,872 651,714.00 1,278,586.00

Total production costs $934,264 $971,642.00 $1,905,906.00

Unit cost $1,459.79 $957.28

5 0

3 years ago