Answer:
Check the answers below!
Explanation:
There is just one question despite the exercise requires completition of 7 additional numerals.
a. Required down payment = Price of the condominium * interest rate required by the bank.
$95.000 * 20% = $19.000
b. 28% of adjusted monthly income is:
(5000-145)*28%=
1359.4
c. Monthly payments of principal and interest for a 25-year loan.
Using PV of ordinary annuity formula,
with PV of the bank loan =96000*80%=76800
d.Total monthly payment=
671+((346+1400)/12)=
817
e.YES---- 817 < 1359.4
f. Amt. of First payment on the loan applied to the principal:
671-(76800*0.00792)=
62.74
ie.$ 63
g.Total amount she pays for the condominium with a 25-year conventional loan(without including taxes & homeowners' insurance)
671*12 mths. *25 yrs. =
201300
h) So, Total interest paid for the 25-year loan:
201300-76800=
124500
No.of periods=25*12=300
at monthly interest of 9.5%/12=
76800=Pmt.*(1-1.00792^-300)/0.00792
Solving the above, we get the monthly payment as 671
Answer:
a. Amount of operating expenses recognized during the accounting period = Account payable closing balance + Cash payment - Opening balance
= $25,000 + $40,000 - $2,000
= $63,000
b. Net income earned during the accounting period = Cash revenue - Amount of operating expenses recognized
= $85,000 - $63,000
= $22,000
C. Amount of cash flow from operating activities = Net income + Increase in current liability
= $22,000 + ($25,000 - $2,000)
= $45,000
Answer:
b. $6,600,000
Explanation:
The computation of the fee is shown below:
= Annual management fee + performance management fee
where,
Annual management fee = $400 million × 0.01 = $4 million
And, the performance management fee
= Incentive percentage × hedge fund × excess return
= 20% × $400 million × 3.25%
= $2.6 million
The excess return is
= {($445 million - $400 million) × $400 million - 8%}
= 11.25% - 8%
= 3.25%
So, the fee is
= $4 million + $2.6 million
= $6.6 million or $6,600,000
Answer:
The inspector found a violation that could cause serious injury or death.
Answer: INTEREST-ONLY LOAN
Explanation:
An interest-only loan is a type of loan where the debtor pays only interest in the interim period but the pays the principal at a specified date in a lump sum.
This kind of loan can be structured in different ways per borrower but the above is the basic nature of such loans.
