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vfiekz [6]
3 years ago
7

A property is sold for $150,000 with the buyer agrees to assume an existing loan of $98,000 and executing a second note and deed

of trust to the seller for $30,000. The purchase contract states that the unpaid balance of any existing loan is approximate and at closing any differences shall be reflected in cash. If the buyers closing costs are $2,500 and the remaining balance of the first loan is $89,800, what is the total cash due from the buyer at closing?
Business
1 answer:
kati45 [8]3 years ago
5 0

Answer:

The total cash due from the buyer at closing is $ 32700.

Explanation:

The total cash due from the buyer at closing is given by the sum of: the cost of the property plus the closing cost, minus the remaining balance of the first loan minus the note and deed of trust. So, we have:

Total_Cash= 150000+2500-89800-30000

Total_Cash= $ 32700

The total cash due from the buyer at closing is $ 32700.

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8 0
3 years ago
Which of the following 2 goods would most likely experience the law of increasing opportunity cost?
inn [45]
The correct answer would be A
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3 years ago
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. Archie can claim total deductible medical expenses that exceed 7.5% of his adjusted gross income. a. True b. False
Thepotemich [5.8K]

The correct answer is; False, as of 2020.

Further Explanation:

In the previous tax years, 2017-2018, this statement would of been correct. Archie could of claimed his total deductible medical expenses that exceeded 7.5% of his AGI. However, the laws changed for 2019 and this is no longer the correct way to claim medical expenses.

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3 0
4 years ago
identify a correct statement according to those who believe that regulation of discrimination and other areas of employment rela
Firdavs [7]

An accurate statement according to individuals who trust that regulation of discrimination and other areas of the employment relationship is vital: financial forces do not have the funds for absolute safety against employment discrimination on the basis of race, gender, nationality, or different covered categories.

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7 0
2 years ago
Based on the following data for the current year, what is the inventory turnover?
GenaCL600 [577]

Answer:

The answer is D.

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3 0
4 years ago
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