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wariber [46]
3 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]3 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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The Herfindahl index equals sum of the squared percentage market shares of all firms in an industry.

<h3>What is Herfindahl index?</h3>

The Herfindahl Index can be regarded as the common measure of market concentration which is used in measuring the market in term of the competition.

In calculating this  Herfindahl Index, we can determine the pre- and post-M&A and  equals sum of the squared percentage market shares .

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What is the yield to maturity of a bond that as a face value of $1,000, is currently selling for $980, has a 5% coupon (paid sem
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