Given Information:
Lifetime cap = 5 %
Initial interest rate = 4 %
Periodic adjustment rate = 1%
Required Information:
Maximum annual interest rate = ?
Answer:
Maximum annual interest rate = 9%
Explanation:
In adjustable rate mortgage scheme, lifetime cap is the maximum limit that is allowed after the initial the interest rate. The periodic adjustment rate is 1% and it is the maximum adjustment allowed in one year.
Maximum annual interest rate = Initial interest rate + Lifetime Cap
Maximum annual interest rate = 4% + 5%
Maximum annual interest rate = 9%
Therefore, maximum annual interest rate you could end up paying on the ARM is 9%
E. The human resource department did not promote Fatima because they thought that she would not be able to travel as frequently as the job requred because she has two young children.
This action constituted a breach of the Civil Rights Act.
<span>The provisions found in the Civil Rights Act forbade discrimination on the basis of sex as well as race in hiring, promoting, and firing.
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In the above scenario, the HR department discriminated Fatima based on her gender ( a female and a mother). They did not give her the chance to have equal employment opportunity.
Answer:
computer skills,marketing skill ,research skill ,bachelor degree in finance,problem solving skills.
Explanation:
Answer:
Net Pay = $159.64
Explanation:
given data
Federal taxes = 18% of gross earnings
state taxes = 4% of gross earnings
social security deduction = 7.05% of gross earnings
solution
we get here first Gross Income that is
Gross Income = $7.50 × 30
Gross Income = $225
and Federal Tax will be
Federal Tax = 18% × $225
Federal Tax = $40.50
and
State Tax will be
State Tax = 4% × $225
State Tax = $9.00
and
Social Security will be
Social Security = 7.05% × $225
Social Security = $15.86
so
Total Deduction will be as
Total Deduction = Federal Tax + State Tax + Social Security
Total Deduction = $40.50 + $9.00 + $15.86
Total Deduction = $65.36
and
Net Pay = Gross Income - Total Deduction
Net Pay = $225 - $65.36
Net Pay = $159.64
Answer:
The correct answer is: $5,140.80.
Explanation:
Simple Interest is a quick method of calculating the interest charged on a loan or the interest accrued out of an investment. It is determined by multiplying the interest rate by the principal by the number of periods. It is one of the most common methods used in finance to calculate the return on certain investments.
In the example, the number of years considered to calculate the interest is 17 because the 18th year on interest is realized by the end of that year. Thus:
- Deposit per year: $140
- Interest per year: $140 x 12% = $16.80
- Interest accrued: $16,8 x 17 = $285.60
- Total savings: (Deposit per year x number of years) + interest accrued
- Total savings: ($140 x 18) + $285.60
- Total savings: $5,140.80