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
zvonat [6]
3 years ago
15

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

You might be interested in
Listening involves understanding what is heard true false ?
8090 [49]

Answer:

true

Explanation:

8 0
2 years ago
Bruno and Diana are trying to calculate their gross income. Which of the following items should they exclude from their gross in
arsen [322]

Answer: $15,000 gift from Diana’s mother for the down payment of their new house

Explanation: under the US code 102- Gifts and other inheritances. Gross income does not include the value of property acquired by gift. Money given as gifts to purchase a property are not taxable.

4 0
3 years ago
SafeRide, Inc. produces air bag systems that it sells to North American automobile manufacturers. Although the company has a cap
iogann1982 [59]

Answer:

SafeRide, Inc.

a. The financial implications of accepting the order are that total production cost will increase by $315,000 with a corresponding increase in sales revenue of $540,000, and an increase in net income by $225,000.

b. Under full capacity, the total production cost will increase by $1,485,000 for adding additional facilities while the sales revenue would increase by $540,000, resulting to a loss of $945,000.

c. Under full-capacity circumstances, there is a financing disadvantage of accepting the order because the order will entail additional capacity and facilities, resulting to a loss of $945,000.

Explanation:

Annual production capacity = 300,000 units

Current production capacity = 180,000 units

Special order from a German manufacturer = 60,000 units

Special order price per unit = $9.00

Budgeted Costs For      180,000 Units  240,000 Units  Difference 60,000

Manufacturing costs

Direct materials                 $450,000           $600,000       $150,000

Direct labor                           315,000             420,000          105,000

Factory overhead              1,215,000           1,260,000           45,000

Total                                  1,980,000          2,280,000       $300,000

Selling and administrative 765,000              780,000            15,000

Total                              $2,745,000        $3,060,000        $315,000

Costs per unit

Manufacturing                       $11.00                  $9.50

Selling and administrative       4.25                     3.25

Total                                     $15.25                  $12.75

Selling price to North American manufacturers = $20 per unit

Financial implications of accepting the order:

Manufacturing costs

Direct materials                  $150,000

Direct labor                           105,000

Factory overhead                  45,000

Total                                  $300,000

Selling and administrative    15,000

Total                                  $315,000

Total cost per unit = $5.25 ($315,000/60,000)

Total manufacturing cost per unit = $5 ($300,000/60,000)

Increase in net income from accepting the order = $225,000 ($9.00 - $5.25) * 60,000

Manufacturing costs

Direct materials                  $150,000 (variable)

Direct labor                           105,000 (variable)

Factory overhead              1,215,000

Total                                $1,470,000

Selling and administrative    15,000 (assumed to be variable)

Total                               $1,485,000

Unit cost per additional unit = $24.75

4 0
3 years ago
What is the gdp?
sattari [20]
C the geographical location of a business
6 0
3 years ago
Read 2 more answers
_____ leadership seeks information, opinions, and preferences, sometimes to the point of meeting with the group, leading discuss
never [62]
The democratic style of leadership seeks information, opinions, and preferences, sometimes to the point of meeting with the group, leading discussions, and using consensus <span>or majority vote to make the final choice.</span>
4 0
2 years ago
Other questions:
  • Jessica and ted wanted to hang out on saturday, but they wanted to do very different activities. jessica wanted to go look for n
    14·1 answer
  • You have been the assistant manager at a small deli for the past three years, and you have made friends with many of the custome
    7·2 answers
  • Sarasota Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first y
    10·1 answer
  • 75 of 100 - jim inherited a property that has not been maintained in years, the property needs new appliances, a roof, new sidin
    7·1 answer
  • Tarah is attending a sold-out counting crows concert at madison square garden, with thousands of other counting crows fans. tara
    12·1 answer
  • The smartphone market is in​ long-run equilibrium. Then the demand for smartphones increases. Describe what happens in the marke
    12·1 answer
  • Bill and Fred bake cakes and pies. Bill's opportunity cost of baking 1 pie is 5 cakes. Fred's opportunity cost of baking 1 pie i
    11·1 answer
  • You need to answer all questions about the case "IKEA Entering India, Finally" Make sure that your submission (paper) should ref
    6·1 answer
  • A company's unit costs based on 100,000 units are:
    5·1 answer
  • Question 2 (5 points) Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liqui
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!