Answer:
The lender charged $2,550 for the points.
Explanation:
Discount points is a type of prepaid fees that mortgage borrowers can purchase from the lenders that lowers the quantity of interest that the borrower will have to pay in the future. In general, the discount points costs 1% of the amount borrowed. A discount point usually lowers the loan interest amount to be paid by an one-eight to one-quarter of a percent.
To determine the charge for the points in our case above, we can express the discount charge points as shown;
D=R×L
where;
D=discount point charge
R=standard discount point rate
L=loan amount
In our case;
D=unknown
R=1%
L=$85,000
replacing;
D=(1/100)×85,000=$850
The lender charged $850 for one points.
Determine the total charge for all the points purchased using the expression below;
T=D×N
where;
T=total charge for all the points
D=charge per point
N=number of points purchased
In our case;
T=unknown
D=$850
N=3 points
replacing;
T=850×3=$2,550
The lender charged $2,550 for the points.
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Answer:
When Larry and Bobbie first opened the bakery, labour allocation was not as complicated, but only 2 of them were involved. Larry used to make the cupcakes, and Bobbie used to decorate them to create them seem nice. Merritt's then went on to commit and administer the firm instead of executing tasks, which they used to perform on a daily basis since there were administrators, sales associates, and marketers.
When the firm began to grow, there was a command structure in place, with employees reporting directly to Larry as well as Bobbie. Merritts began recruiting additional executives as the business's effectiveness began to deteriorate as the firm grew, and management was constricted. When new employees joined the leadership team only a few people used to notify Larry and Bobbie.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
