Answer:
$113,465
Explanation:
Calculation to determine difference in total dollars that will be paid to the lender under each loan
First step is to Calculate the difference in payments on a 30-year mortgage at an interest rate of .75% a month
$100,000 = PMT([1 / (0.0075)] − 1 / {(0.0075)[(1.0075)]^30 × 12})
PMT = $804.62
Second step is to Calculate the difference in payments on a 15-year mortgage at an interest rate of .7% a month
$100,000 = PMT([1 / (0.007)] − 1 / {(0.007 )[ 1.007)]^15 × 12})
PMT = $ 978.87
Now let determine the Total difference
Total difference = ($804.62 × 12 × 30) − ($978.87 × 12 × 15)
Total difference= $113,465
Therefore difference in total dollars that will be paid to the lender under each loan is $113,465
Answer: Mutual mistake
Explanation:
A mutual mistake in a contract is a situation that arises when the parties in a contract make the same mistake in reference to a significant fact in the contract. i.e., they are mutually ignorant of a fact of the contract.
Had they both known about that mistake, they might not have gone into the contract so the contract is voidable in this scenario.
Both Walker and Sheerwood were mutually mistaken about the fact that Rose was pregnant when they went into the contract so this contract is voidable by this theory.
Answer:
D
Explanation:
A credit Union is owned by its customers.
Answer:
functional organizational structure
Explanation:
A functional organizational structure organizes employees by grouping them according to their skills, specialties and knowledge (e.g. marketing, finance, engineering departments). They are usually vertical organizations, where each department is semi-independent from the rest, and the heads of the departments report directly to upper management (CEO, CFO, COO).
Answer: The correct answer is "D".
Explanation: A debit balance in the "Allowance for Doubtful Accounts" indicates that actual bad debt write-offs have exceeded previous provisions for bad debts. So there was an estimating error of "Allowance for Doubtful Accounts".
