Bob and mary are financing $180,500 for a new home. their lender will approve an interest rate of 5% if bob and mary pay two discount points at closing. Cost them is $3,610.
A discount point is 1% of the loan amount. Bob and Mary are paying two points (or 2% of $180,500), which is $3,610.
What is discount points?
- Discount points are a shape of paid ahead of time intrigued that contract borrowers can buy to lower the intrigued rate on their consequent month to month payments.
- Discount points are a one-time expense, paid up front either when a contract is to begin with orchestrated or amid a refinance.
- Each markdown point for the most part costs 1% of the overall credit and brings down the loan’s intrigued rate by one-eighth to one-quarter of a percent.
- Points don’t continuously got to be paid out of the buyer’s stash; they can some of the time be rolled into the advance adjust or paid by the vender.
To know more about discount points visit:
brainly.com/question/14329985?
#SPJ4
C. less painful parting with cash
Answer:
Variable overhead efficiency variance= $3,000 favorable
Explanation:
<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Standard quantity= 3*15,000= 45,000 hours
Actual quantity= 44,000 hours
Standard rate= $3 per hour
Variable overhead efficiency variance= (45,000 - 44,000)*3
Variable overhead efficiency variance= $3,000 favorable
Answer:
Social environment.
Explanation:
When businesses collect demographic information on where people live, what they buy, and how they spend their time, they are responding to the social environment. The social environment comprises of values, beliefs, practices, customs and behaviors of a group of people living together in a society and how their actions influence their surroundings or environment.
Demographics can be defined as the study and analysis of the characteristics of a population based on pre-defined factors such as education, race, income, sex or gender, and age.
Additionally, businesses gather, analyze and use demographic informations about people in the target market so as to have a competitive edge or advantage and to help build a strong relationship.
Answer:
B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.
Explanation:
In order for a contract to be enforceable, consideration must be exchanged between both parties. In this case, Kim made a promise that included consideration ($3,500) but Gold didn't exchange of give anything back. The swimming pool is already finished and it represents another different contract.
Another example would be a boss telling a subordinate that he/she will receive a bonus for having worked 10 years in the firm. The employee already got paid for working the 10 years, so there is no actual exchange of new consideration.
