The maximum commission that Broker Claire can charge for securing a $50,000 first mortgage is $2,500.
Basically, a broker is entitled to a commission as a compensation.
The law governing mortgage loan brokers states that the maximum commissions for loans of a period of 2 years is 5% of the principal of a loan of less than 3 years.
Since the broker secure a $50,000 first mortgage.
Commission = $50,000 * 5%
Commission = $2,500
In conclusion, the maximum commission that Broker Claire can charge for securing a $50,000 first mortgage is $2,500.
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Answer:
Future Value= Present value(1+i)^n
1.Future Value=42,256
2. Future Value=26,862
3. Future Value=73,825
4. Future Value= 76,687
Answer: 50
Explanation: He is the longest tenure of service
Answer:
Explanation:
1. Accounts Receivable - Asset (Come under Current Asset)
2. Equipment - Asset (Come under Fixed asset)
3. Fees Earned - Revenue (Come under income statement)
4. Insurance Expense - Expense (Come under income statement)
5. Prepaid Advertising - Assets (Come under Current Asset)
6. Prepaid Rent - Asset (Come under Current Asset)
7. Rent Revenue - Revenue (Come under income statement)
8. Salary Expense - Expense (Come under income statement)
9. Salary Payable - Liability (Come under current liabilities)
10. Supplies - Asset (Come under Current Asset)
11. Supplies Expense - Expense (Come under income statement)
12. Unearned Rent - Liability (Come under current liabilities)
Answer:
Toby is not maximizing his utility because MUp/Pp > MUc/Pc
Explanation:
given data
marginal utility consuming peanuts = 100 utils per ounce
marginal utility consuming cashews = 200 utils per ounce
peanuts cost = 10 cents per ounce
cashews cost = 25 cents per ounce
solution
we know that Toby will have maximize utility when here
Marginal utility of peanut ÷ price of peanut = Marginal utility of cashew ÷ cash ..........................1
MU (p) ÷ P (p) = MU (c) ÷ P (c)
put here value
but here
10 > 8
so we can say Toby is not maximizing his utility because MUp/Pp > MUc/Pc
