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Julli [10]
3 years ago
9

g Duane Miller wants to know what price home he can afford. His annual gross income is $67,200. He has no other debt expenses an

d expects property taxes and insurance to cost $320 per month. He knows he can get a 8.50%, 15 year mortgage so his mortgage payment factor is 9.85. He expects to make a 25% down payment. What is Duane's affordable home purchase price
Business
1 answer:
Ahat [919]3 years ago
8 0

Answer: $206835.87

Explanation:

Based on the following information, Duane's affordable home purchase price will be calculated thus:

Step 1: $67200/12 = $5600

Step 2: $5600 × 33% = $1848

Step 3: $1848 - $320 = $1528

Step 4: ($1528/9.85) × 1000 = $155126.9

Step 5: $155126.9/(1 - 25%) = $206835.87

Note that for step 5, the affordable home purchase price was calculated as:

= Affordable mortgage amount/(1 - down payment%)

Duane's affordable home purchase price is $206835.87.

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Anna Prentice has worked for years fixing broken typewriters. She is laid off from her job as fewer and fewer people use typewri
fenix001 [56]

Answer:

1. structural unemployment 

Explanation:

Structural unemployment is a form of unemployment that occurs when there's a mismatch between labour's skills and the available jobs. It occurs as a result of technological change.

Anna is unemployed because she can't get a job in her field. Therefore she's structurally unemployed.

Frictional unemployment occurs between the time labour leaves his current employment and the time he finds another one.

Cyclical unemployment is when employment level changes with the business cycle. It rises during a downturn and falls during a upturn.

I hope my answer helps you

4 0
3 years ago
When reviewing the offering documents for a new issue, the FINRA Corporate Financing Department will only permit a new issue to
Dmitrij [34]

The FINRA Corporate Financing Department will only approve a new issue to be offered by a member firm after analyzing the offering documentation for the new issue and determining that the offering spread is reasonable and fair.

<h3>What does the finance department do?</h3>

A business's finance department is the division in charge of procuring and managing all financial resources on the company's behalf. The department oversees income and expenses in addition to ensuring that operations function smoothly with the least amount of disturbance.

<h3>How does a financial department operate?</h3>
  • Banking, leverage or debt, credit, capital markets, money, investments, and the design and management of financial systems are all included in the field of finance.
  • Micro economic and macroeconomic theories form the foundation of fundamental financial ideas.
<h3>Why is a company's finance department important?</h3>

A company's finance department is crucial in monitoring performance and developing answers to vital inquiries concerning risk management and return on investment. There won't be a green light without a profit.

learn more about finance department here

<u>brainly.com/question/22525869</u>

#SPJ4

7 0
2 years ago
Marigold Corp. purchased a truck at the beginning of 2020 for $109700. The truck is estimated to have a salvage value of $4200 a
jeka57 [31]

Answer:

the depreciation expense of the year 2020 is $18,870

Explanation:

The computation of the depreciation expense of the year 2020 is as follows:

= (Truck value - salvage value) ÷ (useful life) × (driven miles)

= ($109,700 - $4,200) ÷ (123,000 miles) × (22,000 miles)

= $18,870

Hence, the depreciation expense of the year 2020 is $18,870

6 0
3 years ago
A company has a process that results in 26000 pounds of Product A that can be sold for $8 per pound. An alternative would be to
Tom [10]

Answer:

Sell now, the company will be better off by $18200

Explanation:

The computation is shown below:

Sales value after processing the product (26,000 × $14)   $364,000

Less: sales value   (26,000 × $8) $208,000

Increase in advantage due to processing $156,000

Less: processing cost ($174,200)

Net disadvantage of processing the product ($18,200)

As we can see the final answer comes in negative which means the product should be sold now

8 0
3 years ago
Which of the following statement(s) is(are) true regarding the selection of a portfolio from those that lie on the capital alloc
Mice21 [21]

Answer:II) More risk-averse investors will invest less in the optimal risky portfolio and more in the risk-free security than less risk-averse investors. III) Investors choose the portfolio that maximizes their expected utility.

Explanation:The capital allocation line is a line created in a graph by investors in an economy to display or identify the potential risks involved in taking risky decisions. This line is one the determining factors to ensure that the investor has adequate knowledge about the risky nature of a capital investment.

Investors generally choose portfolios that guarantee maximum profits with reduced chances of loss. More risk averse investor will choose or opt for less risky portfolio.

4 0
3 years ago
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