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seropon [69]
3 years ago
12

Vivien wants to buy a house. The house she wants is listed for $300,000, and she wants to avoid PMI insurance. She can get a fix

ed-rate mortgage at 4.25% for 30 years. Don’t worry about taxes and insurance for any of these questions, just keep in mind that those would need to be considered as well.
(a) What down payment will she need?
(b) If Vivien makes her down payment and takes out the loan described, what will be her monthly payment?
(c) If Vivien makes her down payment and takes out the loan described, what will be the total cost of the house?
Business
1 answer:
Paul [167]3 years ago
4 0

Answer:

A=$60,000; B= $1,180.66 C=$485,037.60

Explanation:

A. down payment required to avoid PMI insurance is 20%

Therefore 20% of $300,000

=$60,000

B.

Price = $300,000

Down Payment = $60,000.00

Present Value PV = -$240,000 (remaining debt after down payment),

Interest Rate I = 4.25% 12= 0.354% (for each month )

Number of Periods N = 30 × 12=360

Future Value) FV = $0

Periodic Payment PMT= iPV/ (1 - 1+ i)^-n

$1,180.66

C.

Price = $300,000

Down Payment = $60,000.00

Present Value PV = -$240,000 (remaining debt after down payment),

Interest Rate I = 4.25% 12= 0.354% (for each month )

Number of Periods N = 30 × 12=360

Future Value) FV = $0

Periodic Payment PMT= $1,180.66

total cost of the house = (PMT × N)+ down payment

$1,180.66 × 360 months = $425,037.6

$425,037.6+$60,000

=$485,037.60

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Answer:

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Explanation:

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3 years ago
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Price=Average Total Cost Total Revenue is equal to total cost so there

                                                is zero economic profit.  

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Price<ATC                          It means firm is earning Short Run Economic

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8 0
1 year ago
Which part of the passage hints at Helen's efforts of ensuring visibility on social media sites?
jekas [21]

Answer: She updates her online profile regularly and participates in work related online discussions.

Explanation:

3 0
3 years ago
Tyare Corporation had the following inventory balances at the beginning and end of May:
densk [106]

Answer:

The correct answer is option (b) $5400

Explanation:

Solution

Calculation of the cost of direct material on May 1

Now,

The starting work In process inventory = Direct materials Cost  + Direct labor  Cost + Manufacturing overhead applied on W.I.P

13,500 = Direct materials cost  + 4500 + 3600

Thus,

Direct material cost = 13500 - 4500-3600 = $5400

Note:  Direct labor cost = 300 * 15 = $ 4500

The manufacturing overhead = 300 hour *  $12 = $ 3600

So, only expenses associated to work in process will be considered, hence only direct labor and manufacturing overhead are used to work in process are considered.

8 0
3 years ago
Naomi has a home loan amount of $120,000. Her monthly principal and interest payment is $679.00 for thirty years. How much inter
Viktor [21]

Answer:

$124,440

Explanation:

Given a monthly principal and interest payment of $679, over the 30 year period, Naomi would have paid back

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= $244,440

With a loan amount of @120,000, the interest portion of the total repayment is therefore = total repayment less the loan amount

= $244,440 - $120000

= $124,440.

8 0
3 years ago
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