Answer: PMI will automatically be dropped when the balance reaches $117,000.
Explanation: PMI stands for private mortgage insurance. This is an insurance policy that banks often require lenders to have when they do not have a 20% down payment on a new home.
PMI is automatically dropped with the amount of the mortgage due is reduced to 78% of the original appraised value of the home. In this case, the home was originally purchased for $150,000. 78% x 150,000 = $117,000. When the loan reaches $117,000 the pmi will automatically be dropped.
Buisnessman and women typically work in a variety of fields including health care, finance, education, construction, and investment, which means mist of them are entrepreneurs. Buisness careers range in level, responsibility, and experience, and have many specialization depending on were they want to work or who it is.
I hope this helps!
Answer:
Framing effects.
Explanation:
Framing effect in psychology is the cognitive bias whereby an individual makes decisions based more on the information presented than on one's own choice. In other words, when someone makes a decision that is influenced more by the effects of the information on others than on one's own opinions.
In the given scenario, Josh's decision to have tiramisu only when others are having dessert and not if he would be the only one having dessert is affected by the framing effect. This is because his decision is influenced by the way others behave rather than his desire to eat even his favorite dessert.
Thus, the correct answer is the framing effect.
<span>worker
The </span>economic player that is most closely associated with the dual role of consumer and producer is the worker because he produces goods with his work, and so a worker is a producer, but he also consumes other goods, so the worker is also a consumer.
Answer:
It will take 98 months to pay-off the loan
Explanation:
We need to solve for time (n) in a given annuity:
C $60.00
time n
rate 0.011583333 (0.139 annual / 12 months)
PV $3,500.0000
now, we use logarithmics properties to solve for n:
-n = -97.77655542
n = 97.77 = 98