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denis23 [38]
3 years ago
15

A bank has agreed to lend you $53,000 for a home loan. The loan will be fully amortized over 39 years at 13.50%, with .44 points

. The loan payments will be monthly. The closing cost is estimated to be $3,894 and you plan to refinance the mortgage in 8 years. Calculate the actuarial rate.
Business
1 answer:
Natali [406]3 years ago
8 0

Answer:

the actuarial rate is $599.44

Explanation:

The computation of the actuarial rate is given below:

= $53000 × 1.13% × (1+1.13%)^468) ÷ ((1 + 1.13%)^468 - 1)

= $599.44

The 1.13% comes from

= 13.50% ÷ 12

= 1.13%

And, the 468 comes from

= 39 × 12

= 468

Therefore the actuarial rate is $599.44

The same is to be relevant

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Vera_Pavlovna [14]

Commission paid by the building owner to the property Manager for the new tenant is $4575.

<h3>What is a Commission?</h3>

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The calculation for the Commission of Property Manager:

Commission = Total annualised rent x percentage of Commission

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Learn more about Commission here:

brainly.com/question/20987196

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2 years ago
Wood and glass used to create frames for customers. The owner’s experience in seeking out the best wood and glass suppliers. Spe
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Paul [167]

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Answer:

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