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
DaniilM [7]
3 years ago
8

A bank has agreed to lend you $127,800 for a home loan. The loan will be fully amortized over 57 years at 12.98%, with .13 point

s. The loan payments will be monthly. The closing cost is estimated to be $2,168.
Calculate the APR.
A bank has agreed to lend you $524,000 for a home loan. The loan will be fully amortized over 40 years at 5.33%, with .58 points. The loan payments will be monthly. The closing cost is estimated to be $2,579 and you plan to refinance the mortgage in 6 years.
Calculate the prepaid interest.
Business
1 answer:
ikadub [295]3 years ago
8 0

Answer:

ARP = 13.2184 %

Prepaid interest = $3,057.66

Explanation:

The ARP stands for annual percentage rate. It is defined as the amount of interest that one has to pay annually for the total mortgage loan he or she takes. In the question, the ARP will be  13.2184 % for a loan amount of $127,000 at the rate of 12.98% that will be amortized in 57 years with 0.13 points.

The prepaid interest is the interest amount the borrower pays for the loan he takes before the first scheduled of the debt repayment. In the question, the prepaid interest amount is $3,057.66 for the loan amount $524,000 to be amortized in 40 years with 0.58 points and at 5.33%.  

You might be interested in
Based on the expectancy theory, managers who want to motivate their employees should: (select 2 that are true)
emmasim [6.3K]

Determine the rewards valued by each employee, link rewards to performance, determine what factors might counteract the effectiveness of a reward, and make sure the rewards are adequate for the level of performance.

<h3><u>What is expectancy theory?</u></h3>

Expectancy theory is a thought method that emphasizes personal preference and the decision-making process. The process that different people go through when making decisions is outlined by expectancy theory. These options could be decisions for the real world, educational decisions, or fun decisions.

These people base their decisions on expectations of the outcomes of their decisions. We frequently make clothing decisions based on our desire to be both comfortable and ready for the day's events.

Learn more about managers with the help of the given link:

brainly.com/question/14224713

#SPJ4

8 0
2 years ago
What do individual shareholders gain when they buy shares of a company’s stock?
Sholpan [36]
A partial ownership in the corporation.
3 0
3 years ago
Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for a covenant not to compete.
Iteru [2.4K]

Answer: Option (B)

Explanation:

Condition subsequent clause is referred to as an exit clause from the existing contract. This agreement in between the parties tends to include languages that loosens or frees one of individuals from the agreement or the deal. This tends to mostly occur when the conditional outcome or result takes place. The conditional subsequent relieves an individual or a party from all the obligations.

4 0
3 years ago
The generally accepted accounting principle which dictates that revenue be recognized in the accounting period in which the perf
ipn [44]

Answer:

Revenue recognition principle.

Explanation:

The revenue recognition principle states that revenue is recognized in the accounting period in which the performance obligation is satisfied. The cash-basis of accounting is in accordance with generally accepted accounting principles.

7 0
2 years ago
The two primary factors affecting an​ entrepreneur's choice of legal ownership for a venture are​ ________ and​ ________.
77julia77 [94]
The two primary factors affecting an entrepreneur choice of legal ownership for a venture are TAXES AND LEGAL LIABILITY.
The type of business that an entrepreneur establish will determine the type and the amount of tax that it will be required to pay. The legal liability of the entrepreneur determines the extent to which he can be liable in case he finds himself in a financial mess. The entrepreneur should try and minimize the impacts of these two factors.
5 0
3 years ago
Other questions:
  • Kelsey Gunn is the only employee of Arsenault Company. His pay rate is $23.00 per hour with an overtime rate of 1½ times for hou
    8·1 answer
  • Xavier, a recent college graduate, is thinking of investing in a home health care business. he believes this will be a profitabl
    13·1 answer
  • Provide an example of a real-world industry or market that would be described by economists as perfectly competitive. (hint: wha
    10·1 answer
  • An investor invests $4,000 to buy 200 shares of Sand Corporation, which has an expected return of 24%; $2,000 to buy 100 shares
    7·1 answer
  • A state employees' pension fund invested a total of one million dollars in two accounts that earned 3.5% and 4.5% annual simple
    12·1 answer
  • Organizational ___________ is the process by which managers create a specific type of organizational structure and culture so th
    13·1 answer
  • By examining relationships between items in the statement of cash flows, investors and creditors can do all of the following exc
    5·1 answer
  • Industry is the supply side of the market.<br><br> Question 10 options:<br> True<br> False
    10·1 answer
  • What is a new market?
    5·1 answer
  • Relationship between short and long run in Philips curve
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!