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2 years ago

Determine the type of credit that involves a set limit based on what a consumer pays up front.

Business

1 answer:

Lilit [14]2 years ago

4 0

Installment credit is a type of credit that has a fixed number of payments, in contrast to revolving credit.

Examples of which are:

Land loan
Home construction loan
Home mortgage
Some equity loans
Home improvement loan
Automobile loan
Boat loans or RV loans specialty finance
Student loan
Personal loan
Vacation loan

I hope my answer has come to your help. Thank you for posting your question here in Brainly.

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Suppose an institution has purchased a $250,000 mortgage loan from the loan originator and wishes to create a mortgage pass-thro

Andre45 [30]

Answer: $1,177

Explanation:

First we calculate the Monthly service fee by the formula,

Monthly servicing fee = Monthly servicing fee rate * Outstanding loan balance,

The service fee is 35 basis points which translates to 0.35 % and is an annual figure so we will adjust it to a monthly one,

= (0.35%/12) * $250,000

= $72.92

To calculate amount that passes through to the mortgage pass we do,

Mortgage pass-through amount = Monthly mortgage payment - Monthly servicing fee

= $1,250 - $72.92

= $1,177.08,

= $1,177

$1,177 is the income that will pass through to the investor in the mortgage pass through each month

6 0

3 years ago

Market in which goods and services are bought and sold.

kykrilka [37]

Answer:

the correct answer is D, product market.

Explanation:

7 0

3 years ago

2) You purchase one MBI July 125 call contract (equaling 100 shares) for a premium of $5. You hold the option until the expirati

PtichkaEL [24]

Answer:

D) $500 loss

Explanation:

The computation of the realized value on the investment is shown below:

= Number of shares × premium

= 100 shares × $5

= $500 loss

Since the call is for 125 shares for $125 and the selling price per share is $123 due to which the contract is not implemented. So the premium amount would be recorded as a loss of $500

8 0

3 years ago

Quantas Industries sold $300,000 of consumer electronics during January under a one-year warranty. The cost to repair defects un

finlep [7]

Answer:

January 31.

Warranty Expense $18,000 (debit)

Warranty Provision $18,000 (credit)

June 20.

Warranty Provision $183 (debit)

Cash $183 (credit)

Explanation:

There is no option on the customer to take the warranty or not. There this type of Warranty is known as an Assurance Type Warranty.

Assurance type warranties are accounted in terms of the Provision Standards as follows ;

Entry when the warranty is granted

Warranty Expense $18,000 (debit)

Warranty Provision $18,000 (credit)

Being recognition of warranty cost and provision.

Warranty Expense $300,000 × 6% = $18,000

When the Warranty Claim is subsequently received.

Warranty Provision $183 (debit)

Cash $183 (credit)

Being utilization of Provision when the warranty claim is received.

3 0

3 years ago

If the supply curve and the demand curve for lettuce both shift to the left by an equal amount, what can we say about the result

Anna [14]

Answer:

d. The price will stay the same, but the quantity will increase.

Explanation:

When the demand and supply both fall, the equilibrium quantity will definately fall but the price will remain the same. The new supply adapts to the reduction of the demand.

6 0

3 years ago