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3 years ago

Explain how the amount of a down payment affects your monthly mortgage payments.

Business

1 answer:

madam [21]3 years ago

7 0

Answer:

The more money you put down, the smaller your principal value becomes. Having a smaller principal value will make your monthly payments smaller.

Explanation:

The amount of a down payment you pay will affect your monthly mortgage payment. If you put a larger down payment on your mortgage/loan you will pay less in monthly mortgage payments. If you put a smaller down payment you will end up paying more monthly.

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Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation bet

Len [333]

Answer:

1.6

Explanation:

Please see attachment .

Download pdf

8 0

3 years ago

In January 2016, currency held by individuals and businesses and traveler's checks was $1,347 billion; checkable deposits ow

Zielflug [23.3K]

Answer:

$M_1 = $3111$

$M_2 = $12409$

Explanation:

Given data:

Amount of currency held = $1347 billion

checkable deposit $1347 billion

saving deposit $8189 billion

small time deposit $400 billion

market fund $709 billion

Saving deposit in the form M2 and M1

M_1 = currency held as individual and traveller check + checkable deposit

= $1347 + $1764

$M_1 = $3111$

M_2 = M_1 + saving deposit _ time deposit + maket funds

= $3111 + $8189 + $400 + $709

$M_2 = $12409$

3 0

3 years ago

Craig's collected $15,000 from customers for games played in july. craig's sold bowling merchandise inventory from its pro shop

tekilochka [14]

Answer:

cash 15,000 debit

account receivables 15,000 credit

cash 3,000 debit

A/R 5,000 debit

service revenue 8,000 credit

COGS 6,800 debit

Merchandise 6,800 credit

Cash 4,000 debit

A/R 4,000 credit

Cash 2,500 debit

*unearned revenue 2,500 credit

**utilties payable 800 debit

cash 800 credit

salaries expense 3,500 debit

cash 3,500 debit

***prepaid expene 375 debit

prepaid insurance 1,125 debit

cash 1,500 credit

repairs expense 700 debit

cash 700 credit

utilities expense 900 debit

utilities payable 900 credit

Explanation:

We will record following the debit = credit rule

* It will be considered unearned revenue as we didn'0t perform the services we have the obligation to do so therefore, it is a liability.

**as the expense was recorded previously a payable was created to recognize the obligation to pay our utilities. Therefore, we write-off the payable

*** 1,500 is the full contract value for 4 months:

1,500 / 4 = 375 per month

one most is declared as expense and the remainder as prepaid.

7 0

3 years ago

the results of a search to find the least expensive round-trip flights to atlanta and salt lake city from 14 major u.s. cities a

sasho [114]

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8 0

3 years ago

The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct

Marat540 [252]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct labor cost was $48000 for 3000 direct labor hours worked.

We need to calculate the total direct labor variance, using two formulas:

Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (1,800*2 - 3,000)*15= $9,000 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (15 - 48,000/3,000)*3,000= $3,000 unfavorable

Total direct labor variance= 9,000 - 3,000= $6,000 favorable

6 0

3 years ago