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statuscvo [17]
2 years ago
8

ABCD A building was purchased for $350,000 with a 20% down payment. If the lender charged the buyer three discount point, how mu

ch will the buyer need to cover these two items
Business
1 answer:
Genrish500 [490]2 years ago
8 0

The buyer of the building will need $424,976.87 to cover these two items.

<h3>How are the total mortgage payments determined?</h3>

The total mortgage payments can be determined using an online finance calculator as below.

<h3>Data and Calculations:</h3>

Monthly Pay = $1,180.49

House Price = $350,000.00

Loan Amount = $280,00 ($350,000 - $70,000)

Down Payment = $70,000 ($350,000 x 20%)

Interest rate = 3%

Total of 360 Mortgage Payments = $424,976.87

Total Interest = $144,976.87

Thus, the buyer of the building will need $424,976.87 to cover these two items.

Learn more about determining mortgage payments at brainly.com/question/24576997

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Both the inventory conversion period and payables deferral period use the average daily COGS in their denominators, whereas the
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Answer:

Explanation:

In business accounting, the inventory conversion period / payables deferral period and average collection period use different inputs due to the fact that Inventory and accounts payable are carried at cost on the balance sheet, whereas accounts receivable are recorded at the price at which goods are sold. Therefore the accounts receivable (average collection period) are attached and dependent on the specific/changing price of the goods sold.

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3 years ago
Which of the following scenarios might indicate that you have been a victim of identity theft?
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A branch of accounting that generates reports and information for the use of internal management for decision making purpose is
earnstyle [38]

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financial accounting and management accounting

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3 years ago
Perez Company reported the following data regarding the product it sells: Sales price $ 56 Contribution margin ratio 25 % Fixed
suter [353]

Answer:

Contribution margin ratio = 1 - variable cost ratio

                                          = 25%

(a) Break\ even\ in\ dollars=\frac{fixed\ costs}{contribution\ margin}

Break\ even\ in\ dollars=\frac{350,000}{0.25}

                                            = 1,400,000

 Break\ even\ in\ units=\frac{Break\ even\ in\ dollars}{sales\ price}

 Break\ even\ in\ units=\frac{1,400,000}{56}

                                           = 25,000

(b) For profit of $42,000,

sales=\frac{Profit+fixed\ cost}{contribution\ margin\ ratio}

sales=\frac{42,000+350,000}{0.25}

               = 1,568,000

In\ units=\frac{sales}{sales\ price}

In\ units=\frac{1,568,000}{56}

                    = 28,000

(c) variable cost = sales price × variable cost ratio

                           = $56 × 75%

                           = $42

New contribution margin = \frac{New\ sales\ price-variable\ cost}{New\ sales\ price}

New contribution margin = \frac{70-42}{70}

                                          = 0.4

                                          = 40%

New\ Break\ even\ in\ dollars=\frac{fixed\ costs}{contribution\ margin}

New\ Break\ even\ in\ dollars=\frac{350,000}{0.4}

                                                        = $875,000

New\ Break\ even\ in\ units=\frac{New\ Break\ even\ in\ dollars}{New\ sales\ price}

New\ Break\ even\ in\ units=\frac{875,000}{70}

                                                    = 12,500

3 0
3 years ago
How much the top managers support a change and how capable employees are of handling a change are important considerations of.
Artemon [7]

The ability of top managers to support a change and how capable employees are of handling a change are important considerations of how ready an organization is for change

<h3>What is Management?</h3>

This refers to the act of organizing workers in order to maximize their potential and output.

Here, we can note that when we are considering the ways in which organizations are ready for change, we would look at the ability of top managers to support a change and how capable employees are of handling a change because this shows their level of readiness.


Read more about management here:
brainly.com/question/1276995

4 0
2 years ago
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