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Maksim231197 [3]
1 year ago
8

Giselle wants to buy a condo that has a purchase price of $163,000. Giselle earns $2,986 a month and wants to spend no more than

25% of her income on her mortgage payment. She has saved up $33,000 for a down payment. Giselle is considering the following loan option: 20% down, 30 year at a fixed rate of 6.25%. What modification can be made to this loan to make it a viable option, given Giselle’s situation?
Business
1 answer:
galina1969 [7]1 year ago
3 0

Answer:

<u>Giselle should purchase points</u> to lower the interest rate of the mortage, this will make the cuota decrease.

Explanation:

163000 x20% = 32,600

163,000 - 32,600 = 130,040

current mortgage cuota:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C \times \frac{1-(1+0.0625/12)^{-30*12} }{0.0625/12} = 130,040\\

C= 800.68

800.68/ 2,986 = 0.2681 = 26.81%

this cuota exeeds the desired amount Giselle wants.

her couta can be as much as 2,986 x 25% = 746.5

<u>Giselle should purchase points</u> to lower the interest rate of the mortage, this will make the cuota decrease.

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velikii [3]

Answer:

Explanation:

Firs, find the markup amount in dollars;

Markup amount = Cost * markup rate

Cost = $22

markup rate = 30% or 0.30 as a decimal

Markup amount = 0.30*22 = $6.6

Next, find the retail price using the markup amount calculated above;

Retail Price = Markup amount + cost

Retail price = $6.6 +$22

= $28.6

Therefore, the sneakers retail price is $28.6

4 0
1 year ago
alex buys 30 shares of walmart at the close price of 48.80. his broker charges him 3% of each share as a transaction fee. how mu
konstantin123 [22]
Thank you for posting your question her at brainly. Below is the solution I hope the answer will help you. 

<span>Price of each share = $48.80
Broker fee per share = 48.80 * 0.03 = 1.4540
</span>
$48.80 + 1.4540 = 50.2640
50.2640 x 30 = 1,507.92
6 0
1 year ago
Read 2 more answers
This is section 3.8 problem 30: a motel owner observes that when a room is priced at $60 per day, all 80 rooms of the motel are
inna [77]

Answer:

see explanations

Explanation:

First, for 80 room charged at $60 per room ,all rooms are occupied

Let the demand function, expressed by p , the price in dollars charged for each room per day, as a function of x as,

p(x)=$60x ------------where x in the number of rooms

When the price per room is increased by $3, the demand function will be;

p(x)=$63x

Maintenance per room after price increase will be;

p(x)=$16x

This means: $63x -$60x=$16x

3*80 p(x)=16*80

p(x)=(16*80)/(3*80) =5.33

Due to price increase the number of rooms occupied reduced by 5 rooms to 75 rooms. Because of unoccupied rooms bringing no revenue the maintenance cost increased. The demand for room decreased.

6 0
1 year ago
Minnetonka Company leases an asset. Information regarding the lease:
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Answer: The options are given below:

A. Short term.

B. Operating.

C. Long

D. Finance.

The correct option is D. Finance.

Explanation: A finance lease is the kind of lease in which a finance company is the legal owner of the asset throughout the duration of the lease, while the lessee has both operating control over the asset, and some share of the economic risks and returns from the change in the valuation of the underlying asset.

In a finance lease agreement, ownership of the property is transferred to the lessee at the end of the lease term.

4 0
2 years ago
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Littman LLC placed in service on July 29, 2019, machinery and equipment (seven-year property) with a basis of $600,000. Littman'
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Answer:

Option C) Littman's $179 expense will be greater than $100,000

Explanation:

Data:

Littman LLC placed in service on July 29, 2019, machinery and equipment (seven-year property) with a basis of $600,000. Littman's income for the current year before any depreciation deduction was $100,000

From the options, In order to minimize depression, Littman's $179 expense will be greater than $100,000. This will come from the profit loss reconciliation. Hence option C will be the correct option in this case.

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