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stepan [7]
2 years ago
13

According to the Census Bureau, in October 2016, the average house price in the United States was $354,900. In October 2000, the

average price was $215,100. What was the annual increase in the price of the average house sold? (Do not round intermediate calculations)
Business
1 answer:
Mars2501 [29]2 years ago
4 0

Answer:

3.18%

Explanation:

Calculation for the annual increase in the price of the average house sold

We are suppose to use this formula FV = PV (1+r)^t but since we are looking for R the formula to use will be:

R = (FV / PV)^1/16– 1

Let note that 2016-2000 will give us 16 years

Where,

FV=$354,900

PV=$215,100

Let plug in the formula

R= ( $354,900/$215,100 )^1/8)16– 1

R=(1.6499)^1/16-1

R=1.0318-1

R=0.0318×100

R=3.18%

Therefore the annual increase in the price of the average house sold will be 3.18%

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So based on the given scenario above, I can say that the best thing Joaquin can do is to take the $3000 vocational training class since there will be more chances of promotion. And with promotions, this would also mean a larger salary over the long term. He can refund the $3000 dollars eventually. The answer would be option C.
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Select the list that has the steps of the closing process in the right order. a. Do final walk-through Purchase homeowners insur
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Answer:

The correct answer is letter (3): Apply for mortgage; Purchase homeowners insurance; Do final walk-through; Sign closing documents.

Explanation:

The home closing process starts as soon as the buyer signs the contract with a real estate agent. In such a case, the buyer has had to apply and be accepted for a <em>mortgage </em>to cover the expenses of the property. Lenders require buyers to present <em>homeowners' insurance</em> which apart from being a requirement is important for the buyer and the financing entity.

Then, buyers must do a <em>final walk-through</em> of the home before they take possession of it to make sure it is in the conditions sellers offered. Finally, <em>additional documents </em>are signed such as a homestead declaration that registers the property with the federal and state government.

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1 year ago
The Quarter Burger is a hamburger sold by the international fast-food chain Sammy's Burgers. It was given the name because it co
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Sammy's quarter-pound burger is positioned by: price-quality

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2 years ago
Porter Company uses standard costs for its manufacturing division. Standards specify 0.1 direct labor hours per unit of product.
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Answer:

1,370.85 Unfavorable

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Standard rate :

= Budgeted variable overhead costs ÷ Budgeted direct labor hours

= $13500 ÷ 640

Direct labor hours = $21.09 per direct labor hour

Standard time to produce goods :

= Budgeted direct labor hours  ÷ Production volume

= 640 ÷ 6,400

= 0.10 hours

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= ( SH − AH ) × SR

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SH are standard direct labor hours allowed

AH are the actual direct labor hours

SR is the standard variable overhead rate

(SH − AH ) × SR

= [(4,200 × 0.10) - 485] × $21.09

= (420 - 485) × $21.09

= 1,370.85 Unfavorable

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1 year ago
The winds of the recent hurricanes in Florida are bringing significant financial gain to California orange growers. Due to the e
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Answer:

The correct answer is option d.

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As Florida oranges and California oranges are substitutes, with the increase in the price of Florida oranges will lead to an increase in the demand for California oranges as people will prefer the cheaper substitute.

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