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points charged at closing will be $80,000 × 0.02 (2 points equal 2%) = $1,600.
Points, also called discount points, lower interest rates in exchange for prepayment. Lenders lower your closing costs in exchange for accepting higher interest rates. These terms may be used to mean something else. "Point" is a term that mortgage lenders have used for many years.
Mortgage points (sometimes called discount points) are fees paid to lower interest rates on home purchases or refinancing. Discount points cost 1% of your mortgage amount. For example, if you take a $ 100,000 mortgage, one point costs $ 1,000.
Learn more about loan discount points here:brainly.com/question/2764956
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Answer:
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Answer:
$687,000
Explanation:
Intangible Assets are identifiable assets of a non-monetary asset and without physical substance. Intangible assets include trademarks, copyrights and goodwill that is acquired.
Important to note that Internally generated Goodwill is not defined as an assets. Thus, deposits with advertising agency of $35,000 are not included within tangible assets
<u>Calculation of Total Intangible Assets will be :</u>
Intangible Assets Calculation = (Copyrights) $ 58,000 + (Goodwill Acquired) $560,000 + (Trademarks) $69,000
= $687,000
Therefore,
Sandhill's balance sheet as of December 31, 2021 should report total intangible assets of $687,000
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