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wariber [46]
2 years ago
12

An FHA-insured loan in the amount of $57,500 at a 6 ½% interest rate for 30 years was closed on March 17. The first monthly paym

ent is not due until May 1. If the interest is paid monthly in arrears, how much pre-paid interest does the buyer owe at closing? (Use a 360-day year)
Business
1 answer:
Airida [17]2 years ago
5 0

Answer: $145.32

Explanation:

$57500 loan × 6.5/100

$ 57500 ×0.065 =$3737.50 annual interest

Monthly interest = 3737.50 ÷ 12 month

= $ 311.45

Daily interest = monthly interest ÷ 30 days

= $311.45 ÷30

= $10.38

So, from March 17 to May 1 = 14days

14×$10.38 = $145.32

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Answer:

My savings

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total expenditure = $200 + $1,000 + $400 + $200 = $1,800

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3 years ago
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3 years ago
Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip of waterfront property. Northeast gives
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"Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip..." this is a quitclaim deed. This is further explained below.

<h3>What is a deed?</h3>

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In conclusion, When a company pays another company to relinquish a claim to a strip mine, it is executing a quitclaim deed.

Read more about deed

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2 years ago
In 2014, paxson incurred a net loss of $2,500. no dividends were declared or paid during 2014. what was paxson's retained earnin
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3 years ago
Many entire vocations in the United States have disappeared in the last few decades. Which of the following is a possible explan
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Answer:

C,D

Explanation:

I guess..

btw not sure :)

6 0
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