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andre [41]
3 years ago
13

Which two of these are essential for completing an initial mortgage loan application?

Business
1 answer:
Vitek1552 [10]3 years ago
4 0

*Your name.

*Your income.

*Your Social Security number (so the lender can check your credit)

*The address of the home you plan to purchase or refinance.

*An estimate of the home's value.

*The loan amount you want to borrow.

You might be interested in
You borrowed $185,000 for 30 years to buy a house. The interest rate is 4.35 percent, compounded monthly. If you pay all of your
Afina-wow [57]

Answer:

$495,614.80

Explanation:

The interest paid will be the total amount paid minus the principal amount.

The amount paid after 30 years using compound interest will be

the future amount. Interest rate is compounded monthly . There are 12 compounds in a year, equivalent to 360 after 30 years.

interest is 4.35 per year or 4.35/12 per month

FV = P x ( 1+ r)N

Fv = 185,000 x ( 1+ 0.3625/100)360

Fv = 185,000 x (1.003625)30

Fv = 185,000 x 3.67899783

Fv = 680,614.60

Interest paid will be = $,614.80 - $185,000.00

=$495,614.80

5 0
3 years ago
The country of Micronesia is currently experiencing a recessionary gap. The size of the recessionary gap is $500 billion. If the
anastassius [24]

Answer:

The appropriate solution is "100 billion".

Explanation:

The given values are:

Recessionary gap (Total change),

= $500

Marginal propensity consume (MPC),

= 0.8

Now,

Multiplier will be:

= \frac{1}{1-MPC}

On putting the value of MPC, we get

= \frac{1}{1-0.8}

= 5

As we know,

⇒ Total \ change=Government \ spending's \ increase\times Multiplier

⇒ Government \ spending's \ increase=\frac{Total \ change}{Multiplier}

On substituting the values, we get

⇒                                                       =\frac{500}{5}

⇒                                                       =100 \ billion

8 0
3 years ago
On August 1, 2022, Burdick Co. issued bonds with a face value of $600,000. The bonds carry a stated interest rate of 8%; interes
xz_007 [3.2K]

Answer:

$620,000

Explanation:

the total cash received (dirty price) = clean price + accrued interest = (1.02 x $600,000) + ($600,000 x 8% x 2/12) = $612,000 + $8,000 = $620,000

the clean price of a bond refers to the price of the bond without any type of accrued interest, i.e. the price that the issuer would receive if it sold them at the same date that they were issued.

The dirty price includes both the clean price plus any accrued interest

4 0
3 years ago
The relationship between these two entities is an example of: __________
n200080 [17]

Answer:

d. vendor-managed inventory.

Explanation:

Vendor Managed Inventory or in short, the VMI may be defined as a business model or a concept where the buyer of the product or a service provides the information to a vendor of the product while the vendor takes all the responsibility and agrees to maintain an agreed inventory of the product,  which is usually at the buyer's or consumer's consumption location.

It is a inventory management practice for optimizing the inventory of products that is held by a distributor.

6 0
2 years ago
The fiscal year-end 2016 financial statements for Walt Disney Co. report revenues of $55,632 million, net operating profit after
fredd [130]

Answer:

Option (C) is correct.

Explanation:

Given that,

Revenues = $55,632 million

Net operating profit after tax = $9,954 million

Net operating assets at fiscal year-end 2016 = $58,603 million

Net operating assets at fiscal year-end 2015 = $59,079 million

Net operating profit margin is determined by dividing the net operating profit after tax by the total amount of revenues during a fiscal year.

Net operating profit margin:

= (Net operating profit after tax ÷ Revenues) × 100

= ($9,954 ÷ $55,632) × 100

= 0.1789 × 100

= 17.89%

7 0
3 years ago
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