1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Usimov [2.4K]
3 years ago
9

Miller owns a personal residence witha fair market value of $308,000 and an outstanding first mortgage of $246,400. Miller gets

a secnd mortage on the residence and in return borrows $15,400 to purchase new jet skis. Interest on the $___________ of the first and second mortgage is treated as qualified residence indebtedness.
Business
1 answer:
marysya [2.9K]3 years ago
3 0

Answer: $246,400

Explanation:

Qualified residence indebtedness refers to the mortgage that's taken to purchase or improve on one's main home.

Based on the information given above, the on the $246,400 of the first and second mortgage is treated as qualified residence indebtedness.

You might be interested in
A problem is listed below. Identify its type. Mr. Garcia is planning for retirement. He deposits $750 each month into a retireme
andreev551 [17]

Answer:

$361,648

Explanation:

PMT (Monthly Deposit) = $750

i/r = 8%/year

   = 8/12 = 0.67%/month

n = 18 years = 18 x 12 = 216 months

PV = 0

Input these above information into excel/financial calculator, we have:

FV (Amount he has when he retires) = $361,648

OR we can do the calculation manually:

FV = (750 x 1.0067^216)+ (750 x 1.0067^215) + ... (750x1.0067^1) + 750

    = $361,648

6 0
3 years ago
Mortensen Industries, which uses a process-costing system, adds material at the beginning of production and incurs conversion co
snow_tiger [21]

Answer:

c. 60%.

Explanation:

Calculation for what the ending work-in-process inventory's stage of completion is:

First step is to calculate the Ending WIP

Ending WIP = 5,000 - 3,500

Ending WIP = 1,500 units

Now let calculate the ending work-in-process inventory's stage of completion using this formula

Ending work-in-process inventory's stage of completio

4,400 = 3,500 + (x% * 1,500)

4,400 = 3,500 + 15x

15x = 4,400 - 3,500

15x = 900

x = 900/15

x = 60%

Therefore the ending work-in-process inventory's stage of completion is:60%

5 0
3 years ago
A project is:a.A set of sequential activities performed in a process or system. b.A revenue-generating activity that needs to be
ANTONII [103]

Answer:

d. A temporary endeavor undertaken

Explanation:

  • A project is a continuous business and a society that is treated a project and any interesting carrying out individually or collaboration and possible moving the research. The design that is carefully planned to get to a particle aim and maybe termed and constitutes to the tms and to accomplish a particular tasks under the time constraints.
4 0
3 years ago
Burger King licenses its brand name to foreign firms as long as they agree to run their restaurants on exactly the same lines as
finlep [7]

Answer:

c. franchising

Explanation:

Franchising -

It refers to the practice of financing any startup or organization , under a specified name , is referred to as franchising .

The franchisee need to pay some specific amount as soon as he take up the brand name , which is referred to as the franchise agreement .

Hence , from the given scenario of the question ,

The correct answer is c. franchising .

8 0
3 years ago
Read 2 more answers
True or false: gross domestic product (gdp) cannot be used to measure the economy’s income. true
frozen [14]

The answer in the given statement above is false because Gross Domestic Product has the capability of providing measurement when it comes to the economy’s income. It measures the goods that are produced and the services that are given in the course of one year where in it is concluded that it has the capability of measuring the economy’s income.

5 0
4 years ago
Other questions:
  • The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows: Per
    5·1 answer
  • Investments created to invest many people's money in many different firms are called:
    11·2 answers
  • The tragedy of the commons applies especially strongly to resources like fish, forests, and agricultural land because these reso
    15·1 answer
  • Advertising can:___________
    8·1 answer
  • All of the following programs enable young people to serve their country and the world EXCEPT...
    8·1 answer
  • "a manufacturer of deep-sea oil rigs may be least concerned about which of these marketplace forces?"
    9·1 answer
  • Bear Claw Industries uses a job-order costing system. The Molding Department applies overhead based on machine hours, while the
    15·1 answer
  • Galaxy Corp. is considering opening a new division to make iToys that it expects to sell at a price of $15,250 each in the first
    7·1 answer
  • Differential costs ______. Multiple choice question. are always variable costs include all costs related to a decision can be fi
    7·1 answer
  • In business-to-consumer sales the ______ step is important but is often neglected.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!