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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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jonny [76]

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2 years ago

Operations management is applicable:

REY [17]

Answer:

b) To the manufacturing sector exclusively.

Explanation:

Operations management

It is one of the administration of the business practice , which enable to create very high efficiency within the organisation .

This administration is concerned with converting the labor and the material into services and goods , in order to maximize the profit of the organization .

The operations management team attempt to balance out the cost with the revenue in order to get the highest net operating profit possible .

It is exclusive to the manufacturing sector only .

4 0

3 years ago

Depreciation on the company's equipment for the year is computed to be $18,000. The prepaid insurance account had a $6,000 debit

scZoUnD [109]

Depreciation Expense............................$18000

To Accumulated Depreciation............................$18000

(Being depreciation expense accounted)

Insurance Expense................................$4900

To Prepaid Insurance...........................................$4900

(Being Insurance Expensed)

Supplies Expense..............................$3880

To Supplies.......................................................$3880

(Being Supplies Consumed Expensed)

Unearned Service Revenue.......................$10000

To Service Revenue..................................................$10000

(Being Unearned Service Revenue Recognised)

Rent Expense...............................$5800

To Prepaid Rent......................................$5800

(Being rent expired Expensed off)

Wages Expense..............................$3200

To Wages Payable....................................$3200

(Being Wages payable expensed).

3 0

3 years ago

Why might you complete a 1040 instead of a 1040ez?

Liula [17]

D none of the above

8 0

2 years ago

Zhang Industries budgets production of 220 units in June and 230 units in July. Each unit requires 1.5 hours of direct labor. Th

Vaselesa [24]

Answer:

Budgeted direct labor cost for July = $4,278

Explanation:

Given:

Production in July = 230 units

Hours of direct labor = 1.5 hours per unit

Direct Labor rate = $12.40 per hour

Indirect labor rate = $19.40 per hour.

Find:

Budgeted direct labor cost for July

Computation:

Budgeted direct labor cost for July = (Production in July)( Hours of direct labor)( Direct Labor rate)

Budgeted direct labor cost for July = (230)(1.5)(12.4)

Budgeted direct labor cost for July = $4,278

8 0

3 years ago