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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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The primary objective of financial reporting is to provide information:

inna [77]

Answer:

The correct answer is letter "B": That is useful in decision making.

Explanation:

Financial reporting is the activity every business organization engages to analyze the current situation of the company's operations to take decisions. The Financial Statements are the core instruments firms review to find out how is the firm performing and what points could be improved to maximize the revenue.

7 0

3 years ago

Match the following items.

Dovator [93]

Answer:3 is activities

1 is accomplishments

2 is credentails

itwas on my quiz

7 0

3 years ago

Loger's, a high-end apparel company in Bruslon, an Asian country, cuts back on production as consumers start turning to basic pr

eimsori [14]

Answer:

d. economic contraction

Explanation:

Contraction is in economics means it is business cycle phase where the overall economu should be fall. Also the contraction should arise when the cycle of the business is in peak but it should be prior to became as a trough

So at the time of economic contraction, the company normally took the measures of the cost cutting

So as per the given situation, the option d is correct

3 0

3 years ago

Sam Peters is the sole proprietor of Charismatic Cats, a business specializing in the sale of high-end pet gifts and accessori

deff fn [24]

Answer:

Charismatic Cat's Income Statement for the recent year:

Sales $1,060,000

Less Cost of Sales: $662,200

Gross Profit = $397,800

Less Selling & Administration - $114,700

Net Income - $283,100

Explanation:

a) cost of goods sold includes opening inventory plus purchases, including freight-in, less closing inventory:

Beginning Inventory - $19,800

Purchases - $636,000

Freight-in - $19,500

Less Closing Inventory - $13,100

b) Selling and Administration expenses include the cost of website maintenance, cost of shipping and wrapping boxes, and marketing.

c) Cost of goods sold is deducted from the sales to arrive at the gross profit, which compares the sales income with the sales cost.

d) Net income is a sum of gross profit less all the marketing, selling, and administration expenses incurred in running the business. This figure represents the gain made from being in business.

Administration - Website maintenance - $53,000

Selling Expenses - $61,700 (marketing - $33,200 + Wrapping box & shipping- $28,500)

3 0

4 years ago

Game theory can help us understand why Xerox did not successfully exploit the opportunity it had in IT. If Xerox commercializes

Arisa [49]

If Xerox commercializes PC technology and its rivals do not Xerox payoff is expected to be $250m, whereas the competitors’ payoff is $75m.

<h3>What is game theory?</h3>

This is the game strategy that involves two players where each of the players have to pick the most favorable choice based on the choice of the other person.

Here it would be best for Xerox to pick option B because this is where they would be able to get the most advantage.