Which of the following is not a reason for passing the equal pay act of 1963

1. Suppose that 10 years ago you bought a home for $150,000, paying 10% as a down payment, and financing the rest at 8% interest

Ierofanga [76]

Answer:

1. Down payment = $15,000

2. The existing mortgage (loan) was for $135,000

3. The current monthly payment on the existing mortgage is $990.58

4. The total interest over the life of the existing loan = $221,609.58

6. The amount of the original loan paid off is $22,319.

7. Total amount paid to the loan company over the last 10 years is $258,928.58 ($243,928.58 + $15,000)

8. Total interest paid over the last 10 years is $221,609.58

9. The equity in the home is $67,319 ($180,000 - $112,681)

10. The new monthly payments will be $675.58

11. Saving each month because of the lower monthly payment is $315 ($990.58 - $675.58)

12. Total Interest = $352,137.21 ($221,609.58 + $130,527.63)

13. It does not make sense to refinance because what is saved per month cannot compare with the additional interest expense to be incurred for prolonging the payments.

Explanation:

a) Data and Calculations:

1. Cost of a home = $150,000

10% down payment = $15,000

Existing Mortgage = $135,000 ($150,000 - $15,000)

Home Price 150000

Down Payment 10 %

Loan Term 30 years

Interest Rate 8%

House Price $150,000.00

Loan Amount $135,000.00

Down Payment $15,000.00

Total of 360 (30 years * 12)

Mortgage Payments $356,609.58

Total Interest $221,609.58

Ten years after, the loan balance has been reduced by $22,319 ($135,000 - $112,682)

Refinancing calculations:

Home Price 112681

Down Payment 0 %

Loan Term 30 years

Interest Rate 6

Monthly Pay: $675.58 Monthly

Total Mortgage Payment $243,208.63

Total Out-of-Pocket $243,208.63

Total of 360 Mortgage Payments $243,208.63

Total Interest $130,527.63

4 0

3 years ago

Which bear is best? Beets. Bears. Battlestar galactica.

Misha Larkins [42]

Answer:

black bear

Explanation:

I've watched the office 10 times

8 0

3 years ago

Read 2 more answers

Refer to exhibit 4-1. in a free market, ________ units of the good would be exchanged. with a price ceiling, _______ units of th

solniwko [45]

The answer is option "<span>d. 125; 75".
</span>
Free market alludes to an economy where the legislature or government forces few or no confinements and directions on purchasers and sellers. In a free market, members figure out what items are created, how, when and where they are made, to whom they are offered, and at what value—all in light of free market activity.

4 0

4 years ago

Tony has been sent to sales training and the final examination requires delivering an effective sales presentation. If he passes

vazorg [7]

Answer: interactional

Explanation:

Based on the information given, the trainer’s failure to discuss these aspects of Tony’s presentation performance demonstrated a lack of attention to the interactional justice.

Interactional Justice involves the communication of the procedures that are used in judging the performance of a person. It focuses on the treatment that individuals get when there are implementation of certain procedures. This standard is utilized by the employees at work.

In this scenario, the trainer failed to interact with Tony as he didn't explain his flaws to him and didn't tell him the reason that he wasn't chosen. Thereby, the trainer didn't pay attention to interactional fairness.

8 0

3 years ago

DJFats Company determined that the 2019 ending inventory had been overstated by $11,200 AND that the 2019 beginning inventory wa

horrorfan [7]

Answer:

a. $103,400

Explanation:

As we know that

Cost of goods sold = Beginning inventory + purchases - ending inventory

And,

Gross profit = Sales revenue - cost of goods sold

Since in the question it is given that

The ending inventory and beginning inventory had been overstated by $11,200 and $6,600 respectively

Since overstatement in the initial inventory raises the cost of the goods sold and decreases by that amount the gross profit & net income

And, overstatement in ending inventory reduced cost of goods sold and raised gross profit & net income by that amount.

So for overstated ending inventory the amount should be deducted and for overstated beginning inventory the condition would be reverse

So, the correct amount is

= incorrect pretax net income + overstatement in beginning inventory - overstatement in ending inventory

= $108,000 + $6,600 - $11,200

= $103,400

6 0

3 years ago

Which of the following is not a reason for passing the equal pay act of 1963​

Which of the following is not a reason for passing the equal pay act of 1963