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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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Match the following statements to the appropriate terms.
ololo11 [35]

Answer:

Matching Statements to Appropriate Terms:

Price-earnings ratio = Profitability Ratio

Return on Assets = Profitability Ratio

Accounts Receivable Turnover = Liquidity Ratio

Earnings per share = Profitability Ratio

Payout ratio = Profitability Ratio

Working capital = Liquidity Ratio

Current ratio = Liquidity Ratio

Debt to Assets = Solvency Ratio

Free Cash Flow = Solvency Ratio

Explanation:

Profitability Ratios are one of the classes of financial metrics that measure a business's ability to generate earnings relative to its revenue, operating costs, assets, or shareholders' equity during a period of time.

Liquidity Ratios measure the ability of the company to pay its maturing short-term debt obligations from its current assets.  They include the working capital, the current ratio, and the acid-test ratio.

Solvency Ratios measure the ability of the company to pay its maturing long-term debt obligations from its assets.

8 0
3 years ago
is year, Amy purchased a personal residence at a cost of $1,000,000. She borrowed $800,000 secured by the home to make the purch
Irina18 [472]

Answer:

 Deductible Interest is $11,250

Explanation:

Compute at the amount of $750,000 the interest Amy could deduct as follows:

Since the interest on loan secured by home could be deduct on the first $750,000 borrowing amount. Hence,

 Deductible Interest = Interest Paid × ($750,000 / Loan Secured by income)

 Deductible Interest = $12,000 × ($750,000 / $800,000)

 Deductible Interest = $11,250

Hence, the Amy could deduct interest on borrowing $11,250

3 0
3 years ago
JacksonJackson Bank lends JabbourJabbour Clothing Company ​$125 comma 000125,000 on September 1. JabbourJabbour signs a ​$125 co
lara31 [8.8K]

Answer:

Explanation:

The journal entry is shown below:

Interest expense A/c Dr $3,000

           To Interest payable A/c $3,000

(Being interest is recorded)

The computation of the interest expense is shown below:

= Principal × rate of interest × number of months ÷ total number of months in a year

= $125,000 × 6% × (4 months ÷ 12 months)

= $2,500

The four-month is calculated from the September 1 to December 31

4 0
3 years ago
A. the ability to merely project one's abilities in the lack of actual accomplishments B. the ability to reduce the dependence o
MissTica

A leadership is best described as the ability to influence a group toward the achievement of a vision or set of goals.

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

In a formal setting, this refers to individual ability to influence, lead and guide others people to accomplish a predetermined mission in the manner desired.

Hence, it is best described as the ability to influence a group toward the achievement of a vision or set of goals.

Therefore, the Option D is correct.

Read more about leadership

<em>brainly.com/question/12522775</em>

#SPJ12

4 0
2 years ago
In reviewing research on power, you discover that there are three other common sources of power in organizations. Which of the f
Rudiy27
It is information power
3 0
3 years ago
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