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3 years ago

How old do you have to be to get a reverse mortgage

Business

1 answer:

Murljashka [212]3 years ago

6 0

Answer: Minimum 62 years

Explanation: As per the rules, the youngest borrower must have attained the age of 62 years to qualify for reverse mortgage loan. There are several other requirements as well.

HUD financial criteria also needs to be fulfilled by the borrower. The home in which borrowers be living must be their prime residence and the required home equity will also be required.

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Your boss leaves you a note, asking you to determine the present value of a $1,200,000 payment to be made in six years assuming

shtirl [24]

Answer:

so value of the mistake is $311685.71

Explanation:

given data

present value = $1,200,000

time = 6 year

discount rate = 18%

discount rate = 8%

to find out

What is the dollar value of the mistake

solution

we get here present value that is express as for both rate that is

present value = $\frac{FV}{(1+r)^t}$

put here value

present value = $\frac{1200000}{(1+0.18)^6}$

present value 1 = $444517.85

and

present value = $\frac{1200000}{(1+0.08)^6}$

present value 2 = $756203.55

difference is $756203.55 - $444517.85

difference is = $311685.71

so value of the mistake is $311685.71

7 0

3 years ago

As production increases:

Margaret [11]

Answer:

Correct option is (D)

Explanation:

Total cost is a sum of Total fixed cost and total variable cost. Fixed cost does not change with the change in number of units produced. Variable cost on the other hand increases with the increase in production.

So, initially fixed cost is higher than variable cost at a certain production level. As production increases, fixed cost is spread across units and per unit fixed cost falls but variable cost keeps increasing, so total cost keep increasing with increase in production because of variable cost component.

7 0

3 years ago

Furnco sells secretarial chairs. Annual demand is normally distributed, with mean of 1,040 chairs and standard deviation of 50.9

kaheart [24]

Answer:

Reorder point is 40

Explanation:

Reorder point is the level of inventory which trigger the purchase of new inventory.

The formula for Reorder point is

Annual demand * Leadtime + Safety Stock

Reorder Point = 1040 / 365 * 14 days + 0

= 40.

The lost sales cost is $50 in goodwill, Furnco should keep a safety stock of at least 30 chairs in order to meet demand level.

7 0

3 years ago

Eaton Co. sells major household appliance service contracts for cash. The service contracts are for a one-year, two-year, or thr

natita [175]

Answer:

The correct answer is b. $1,300,000

Explanation:

The computation of unearned service revenue is shown below:

= Outstanding service contracts for 2011 + Outstanding service contracts for 2012 + Outstanding service contracts for 2013

= $380,000 + $570,000 + $350,000

= $1,300,000

The other amounts are not considered in the computation part. So, it is ignored.

Thus, the $1,300,000 is the amount which should be reported as Unearned Service Revenues in Eaton's December 31, 2010 balance sheet.

Hence, the correct answer is b. $1,300,000

3 0

3 years ago

Daniel wanted to start his own small business. After spending his own money on marketing research, Daniel asked his friend Chase

Nuetrik [128]

Given that Daniel spent months writing a business plan, this goes to show that Daniel understands the steps needed to start a small business.

<h3>What is a business plan?</h3>

This is a plan that shows the details of a business company. The document shows the objectives that the company has.

This document also tells how the business plans to go about achieving all the goals that it has set for itself.

Read more on business plans here:brainly.com/question/25311149

6 0

2 years ago