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
Delvig [45]
3 years ago
9

A lender agrees to loan you 80% of the first $ 60,000 and 70% of the remainder of the purchase price of a home. The contract pri

ce of the house you want is $ 80,000. How much down payment do you need?
a. 22000b. 18000c. 16000d. 14000
Business
1 answer:
zmey [24]3 years ago
8 0

Answer:

b. $18,000

Explanation:

For computing the down payments, first we have to determine the lending amount and remaining amount which are shown below:

Lending amount = $60,000 × 80% = $48,000

Remaining amount = ($80,000 - $60,000) × 70% = $14,000

Total amount equals to

= $48,000 + $14,000

= $62,000

Now the down payment would be

= $80,000 - $62,000

= $18,000

You might be interested in
The limited liability of a stockholder in a closely-held corporation may be challenged successfully if the stockholdera. Underca
lina2011 [118]

Answer:

The correct Option is A

Explanation:

When the limited liability of the stockholder and it is a closely held corporation which might be challenged successfully if the stockholder, undercapitalized the corporation  which means that the corporation does not have enough capital to pay creditors and conduct normal operations of the business and it will be done when it is established or formed.

5 0
3 years ago
What steps should e taken if the results do not support the hypothesis?
lys-0071 [83]
More information please
6 0
3 years ago
During the​ year, direct labor costs of​ $30,000 were​ incurred, manufacturing overhead totaled ​$42,000, materials purchased we
andriy [413]

Answer:

Total Manufacturing Cost = $96,347

Explanation:

Total manufacturing cost include all the costs related directly to the production, and does not include any indirect costs, or cost of selling and administration.

Thus, for the information provided we have,

Since not provided assumed no opening and closing inventory.

Total manufacturing cost =

Direct Labor Cost $30,000

Add: Manufacturing Overhead $42,000

Add: Materials Purchased $27,000

Less: Indirect Material included = ($2,653)

Total Manufacturing Cost = $96,347

4 0
3 years ago
Jacob Company sold a $1,000 par value, non-callable bond that has 20 years to maturity and a 7.00% annual coupon that is paid an
ratelena [41]

Answer:

4.64%

Explanation:

5 0
3 years ago
A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash. The only changes affecting retained
netineya [11]

Answer:

                               Ikiban Inc.

                     Statement of Cash flows

               For the Year Ended June 30, 2017

Cash flow from operating activities:

Net income                                                               $117,510

Adjustments to net income:

  • Depreciation expense $67,600
  • Decrease in inventory $27,200
  • Decrease in prepaid expenses $1,900
  • Increase in accounts receivable ($18,500)
  • Gain from sale of equipment ($3,000)
  • Decrease in accounts payable ($9,500)
  • Decrease in wages payable ($9,900)
  • Decrease in taxes payable ($2,800)          <u>   $53,000</u>

Net cash flow from operating activities                 $170,510

Cash flow from investing activities:

Purchase of new equipment                                 ($67,600)

Disposal of old equipment                                   <u>   $13,500</u>

Net cash flow from investing activities                 ($54,100)

Cash flow from financing activities:

Issuance of common stock                                   $69,000

Retirement of note payable                                 ($30,000)

Distributed dividends                                           <u>($106,310)</u>

Net cash flow from financing activities                 ($67,310)

Net cash increase                                                   $49,100

<u>Cash balance June 30, 2016                                 $53,000</u>

Cash balance June 30, 2017                                 $102,100

4 0
3 years ago
Other questions:
  • What type of relationship does a lawyer and client have
    6·2 answers
  • john chapelle wants to know if his video store customers are interested in a selection of classic, black and white movies. how c
    10·1 answer
  • Which of the following circumstances usually comes before a period of economic contraction?
    6·1 answer
  • In 1 or 2 sentences, define an externality and explain how the government makes companies take responsibility for negative exter
    12·1 answer
  • To maintain balance in a project with a fixed budget and a well-defined scope, a project team will require flexibility _________
    12·1 answer
  • The Guitar Shoppe reports the following sales forecast: August, $130,000; and September, $230,000. Total sales include 35% cash
    10·1 answer
  • You believe your restaurant concept can generate $50,000 in net profit per year. Your investors demand at 20% return on investme
    11·1 answer
  • If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account which had been writte
    12·1 answer
  • To everyone I offended, I'm very sorry for what I said and I promise not to use that language again on this site this goes mainl
    6·1 answer
  • Why are russian and eastern europe interested to international managers? identify and describe reasons for such interest as well
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!