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2 years ago

What's the primary benefit of being prequalified for a mortgage? Pick the best answer.

Business

2 answers:

notsponge [240]2 years ago

4 0

Answer:

Explanation:

The primary benefit to getting prequalified up to a certain amount for a loan is that you are indicating to real estate professionals and builders that you are serious about looking for a home in a certain range.

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pentagon [3]2 years ago

3 0

I would think that the primary benefit of being prequalified for a mortgage would allow you to lock in an interest rate for up to 130 days. This credible estimate of you mortgage limit shows real estate agents and home sellers that you are a serious buyer.

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Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a

Aloiza [94]

Answer: C. Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

Explanation:

From the question, we are informed that Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a new business, RR Consulting.

The journal entries will RR Consulting make to record this transaction will be:

Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

7 0

3 years ago

Read 2 more answers

An investment project has annual cash inflows of $4,400, $3,900, $5,100, and $4,300, for the next four years, respectively. The

RoseWind [281]

Answer:

Discounted payback period shall be as follows:

a. 1 year 7.36 months

b. 2 years 3.27 months

c. 3 years 2.9 months

Explanation:

a. Payback period in case of cash outflow = $5,700

For calculating the pay back period we shall firstly discount the cash flows to present value @14 %.

Year Cash Flow PV Factor PV of Cash Flow Cumulative

Cash Flow

0 - $5,700 1 - $5,700 -5,700

1 $4,400 0.877 $3,858.8 -$1,841.2

2 $3,900 0.770 $3,003 $1,161.8

Since the cumulative cash flows are positive in 2nd year payback period =

1 + $\frac{1,841.2}{3,003} \times 12$ = 1 year and 7.36 months

b. Payback period in case of cash outflow = $7,800

For calculating the pay back period we shall firstly discount the cash flows to present value @14 %.

Year Cash Flow PV Factor PV of Cash Flow Cumulative

Cash Flow

0 - $7,800 1 - $7,800 -7,800

1 $4,400 0.877 $3,858.8 -$3,941.2

2 $3,900 0.770 $3,003 -$938.2

3 $5,100 0.675 $3,442.5 $2,504.3

Since the cumulative cash flows are positive in 3rd year payback period =

2 + $\frac{938.2}{3,442.5} \times 12$ = 2 years and 3.27 months

b. Payback period in case of cash outflow = $10,800

For calculating the pay back period we shall firstly discount the cash flows to present value @14 %.

Year Cash Flow PV Factor PV of Cash Flow Cumulative

Cash Flow

0 - $10,800 1 - $10,800 -$10,800

1 $4,400 0.877 $3,858.8 -$6,941.2

2 $3,900 0.770 $3,003 -$3,938.2

3 $5,100 0.675 $3,442.5 -$495.7

4 $4,300 0.592 $2,545.6 $2,049.9

Since the cumulative cash flows are positive in 4th year payback period =

3 + $\frac{495.7}{2,049.9} \times 12$ = 3 years and 2.9 months

Final Answer

Discounted payback period shall be as follows:

a. 1 year 7.36 months

b. 2 years 3.27 months

c. 3 years 2.9 months

7 0

4 years ago

Briana Foods Inc., a manufacturer and distributor of grocery products, uses online recruiting for sales personnel.On its Website

valentinak56 [21]

Answer:

C) Providing an honest assessment of the job

Explanation:

In the given scenario the online recruitment process begins with a detailed job description of the sales representative position.

A job description is a statement of the requirements of a job role and also indicates key success steps on the job

Briana states that - A sales representative is required to distribute, sell, and promote Briana products.He or she should be the primary link with retail customers and consumers, execute company promotions, meet inventory needs, and monitor the competition within their region.A representativespends most of the worktime communicating with the customer to create a win-win solution.

This provides the applicants with a honest assessment of the job so they will know what to expect should they be successful

7 0

3 years ago

How do you know how the government works on... there are reports but yet its top secret how do people know about things from the

Inessa05 [86]

Answer:

Hackers probably and even if only one person leaks something, it'll travel fast.

Explanation:

7 0

3 years ago

The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal di

sveticcg [70]

Let X be the time or period needed for an automobile center to finish an oil change.

X ∼ N (17, 2.5)

a)

P(X ≥ 20) = P((X - 17)/5 ≥ (20- 17)/2.5) = P(Z ≥ 1.2) = .1151 *100 = 11.51% is the answer

b)
P(X ≥ x) = 0.07

P (X - 17)/2.5 ≥ (x - 17)/2.5) = 0.07

P (Z ≥ z) = 0.07
look at the z table, 0.07 lies between 1.47 and 1.48, add and then divide you'll get:z = 1.475

1.475 = (x - 17)/2.5

x = 20.6875 ≈ 21 minutes

3 0

3 years ago