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lapo4ka [179]
3 years ago
11

A seller wants to sell her existing house and owes $290,000 on mortgage. At closing of the sale she will pay $1,400 in closing c

osts, plus a 6% brokerage fee. She wants to realize at least $55,000 for a down payment for the purchase price of a new house. What is the minimum amount she must sell her house for to net $55,000?
Business
1 answer:
mote1985 [20]3 years ago
6 0

Answer:

$ 363,880

Explanation:

The seller must cover the mortgage, closing costs, and brokerage fee. Once these expenses are covered, the down payment is added. This adds the minimum amount for the house price.

Mortgage      290,000  

Closing costs            1,400

Brokerage fee       <u>  17,400</u> (6% * 290,000)

<h3>Total Expenses 308,800</h3>

Down payment       <u>   55,000</u>

<h3><u>Minimun price</u>    363,880</h3>
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The ledger of American Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,690 5/31 Transf
liubo4ka [24]

Answer:

How many units are in process at May 31?

physical units ending WIP:            740

equivalent units WIP materials:    740

equivalent units WIP conversion: 296

Explanation:

We will add the beginning and started units, then subtract the trasnaferrd out to get the ending WIP inventory.

physical units:

beginning             490

started                1,650

transferred-out<u> (1,400) </u>

ending                  740

Now we will multiply by the percentage of completion to get the equivlent units of WIP on each category:

<u>equivalent units for ending WIP:</u>

materials    740 x 100% = 740

conversion 740 x 40% = 296

4 0
3 years ago
Suppose two types of consumers buy suits. Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B wi
n200080 [17]

Answer:

The firm will not sell any bundle, the amount of bundle to be sold will be zero.

Explanation

Solution

Since firm sells at $25 each for coats and pants, then If consumer wants to purchase both Pant and Coat, the customer will have to pay 25 + 25 = $50.

Also, If consumer purchase Pant and Coat as a Bundle then, he will pay 150. From the question stated we can conclude  that  their is a form of interest to pay for Pant and Coat for Both consumers are higher than 25.

However, they will have to pay an amount less for 1 coat and 1 pant if they buy this in a separate way instead of a  Bundle.

We can say, that type of consumers (both) will not buy the pants and coat as a bundle, but will want to buy them separately.

Therefore, any bundle will not be sold by firm. the amount of Bundle sold will be known as a zero Bundle

5 0
3 years ago
A 30-year zero coupon bond with a face value of $5,000 is currently selling for $1,156.88 and has a market rate of interest of 5
daser333 [38]

Answer:

Price will increase by $277.58

Explanation:

Market rate of Interest of a zero coupon bond can be determined by following formula

Market Rate of Interest = [ ( F / P )^(1/30) ] - 1

4.25% = [ ( $5000 / P )^(1/30) ] - 1

0.0425 + 1 = ( $5000 / P )^1/30

( 1.0425 )^30 = (( $5000 / P )^1/30)^30

3.4856 = $5000 / P

P = $5,000 / 3.4856

P = $1,434.46

Now Calculate the change in Price

Change in price = $1,434.46 - $1,156.88 = $277.58

Price will increase by $277.58

5 0
3 years ago
Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $
Vlad1618 [11]

Answer:

c. 10.38%

Explanation:

Loan Amount = $10,000

Quarterly Interest payment = $250

Interest Payment for the year = $250 x 4

Interest Payment for the year = $1,000

Nominal interest rate = ($1,000 / $10,000) x 100 = 10%

Nominal interest rate = r = 10%

Number of periods = m = 4

Effective Interest rate = [ ( 1 + r/m )^m]-1

Effective Interest rate = [ ( 1 + 0.1/4 )^4] -

Effective Interest rate = [ ( 1 + 0.025 )^4] -1

Effective Interest rate = 10.38%

6 0
3 years ago
Once the decision has been made to implement an ERP system, the initial step is to select an ERP vendor.
stich3 [128]
It is true that once the decision has been made to implement an ERP system the initial step is to select an ERP vendor.
7 0
1 year ago
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