Answer:
- Monthly Payment for Choice 1=$665.16
- Monthly Payment for Choice 2=$627.10
- Total Closing Cost for Choice 1=$241557.60
- Total Closing Cost for Choice 2=$233456
- (A)Choice 1 be the better choice the monthly payment is higher.
- (D)Choice 2 be the better choice because the monthly payment is lower.
Explanation:
Amount of Loan needed = $140,000
- A point is an optional fee which helps you get a lower interest rate on your loan.
- Closing costs are the fees you pay when obtaining your loan.
<u>Choice 1</u>
30-year fixed rate at 4% with closing costs of $2100 and no points.
Monthly Payment
P=$140,000
Monthly Rate=4% ÷ 12=0.04 ÷ 12=0.0033
n=12 X 30 =360
Monthly Payment=$665.16
Total Closing Cost =(665.16 X 360)+2100=$241557.60
<u>Choice 2</u>
30-year fixed rate at 3.5% with closing costs of $2100 and 4 points.
Monthly Payment
P=$140,000
Monthly Rate=3.5% ÷ 12=0.035 ÷ 12=0.0029
n=12 X 30 =360
Monthly Payment=$627.10
Total Closing Cost =(627.10 X 360)+2100+(4% of 140000)=$233456
Answer:
February 2
Debit Inventory $60,000
Credit Cash/Accounts payable $60,000
February 5
When a return of the item purchased is done,
Debit Cash/Account payable $4,000
Credit Inventory $4,000
Explanation:
In the perpetual inventory system, any movement (sale or return or purchase) must be adjusted in the books once the item moves.
When an item is purchased, such purchase may be done by cash or on account, the entries required are
Debit Inventory
Credit Cash/Accounts payable
When a return of the item purchased is done,
Debit Cash/Account payable
Credit Inventory
Amount returned = $40 * 100
= $4,000
I agree that the y is connected to fry nye the answer would have to be so be it through the needs
Answer:
What does economy of language mean?
Explanation:
The economics of language is an emerging field of study concerning a range of topics such as the effect of language skills on income and trade, and the costs and benefits of language planning options, preservation of minority languages, etc. Language can be an expression of symbolic power.
