1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
In a​ make-to-order system, when a customer places a request for a product or service with a​ producer,
Mashutka [201]
<span>A work order is created as soon as the customer places the request for a product or service. Since the manufacturing or the creation of the item begins only after order is made, all the resources and the raw materials should be in place well before time.</span>
3 0
3 years ago
A recent high school graduate is researching ways she can pay for her college education. She has received three small scholarshi
kkurt [141]

Answer:

C and D

Explanation:

My expertise is sucking d1ck #Po4n⭐4life

3 0
3 years ago
Format of a presentation essay <br>​
egoroff_w [7]
Introduction
main body of presentation should include for/against if applicable and an evaluation of the points raised
a conclusion
8 0
3 years ago
Defend or critique the following statement, using supporting evidence: “Getting to work early on your first day at a new job is
frez [133]

Answer:

Dressing well, being prepared, having a positive attitude, arriving early for work and asking good questions.

Explanation:

5 0
3 years ago
ICHOR Restaurant Group was started by Brian Bailey and Tim Hug in 2006 and has since opened three successful restaurant concepts
Margaret [11]

Answer:

franchising

Explanation:

According to my research on different business strategies, I can say that based on the information provided within the question Entrepreneurs purchasing such a license are engaging in franchising. This is when the owner of a brand licenses the name to a specific individual so that individual can open up his/her own store using that name and reputation. These licenses come with certain requirements placed by the owner of the brand that the buyer must follow.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
Other questions:
  • How is a change in the quantity demanded illustrated on the demand curve?
    11·1 answer
  • A company has a net cash inflow from operating activities of $793,000, a net cash outflow of $58,000 from investing activities a
    9·1 answer
  • All else​ equal, if job turnover has people leaving jobs and finding new jobs in the same​ industry, this will: A. increase the
    11·1 answer
  • Hannah’s alterations business works around the needs of the customer by providing hours of operation that vary throughout the we
    12·1 answer
  • Coca-Cola was primarily known for its core competencies in marketing, bottling, and distributing aerated drinks. However, with t
    9·1 answer
  • A buyer made an offer to purchase a property. The owner responded with a counteroffer. While the buyer was reviewing the counter
    10·1 answer
  • Which type of business constituent has titles such as President and CEO?
    11·1 answer
  • China Imports Inc. sold 10,000 units in May. Per unit selling price and variable expense were $23 and $15, respectively. Fixed e
    10·1 answer
  • Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and Finished Goods Inventory had ap
    5·1 answer
  • Explain how IT (Information Technology) impacts your career and the positive outlook for IS (Information Systems) management car
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!