A buyer agrees to purchase a house for $184,500. The buyer pays $2,000 EMD and obtains...
A buyer agrees to purchase a house for $184,500. The buyer pays $2,000 EMD and obtains a new mortgage loan for $167,600. The purchase contract provides for a March 15 settlement. The buyer and the sellers prorate the current year's real estate taxes of $1880.96, which have been prepaid. The buyer has additional closing costs of $1,250, and the sellers have other closing costs of $850. How much cash must the buyer bring to the settlement? a. $16,389.09 b. $17,639.10 c. $17,839.09 d. $19,639.10
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A buyer agrees to purchase a house for $184,500. The buyer pays
$2,000 EMD and obtains...
11) 11) Frank and Diane want to buy a house. Which of the following do they...
11) 11) Frank and Diane want to buy a house. Which of the following do they need before they purchase a house? A) Down payment. B) Handyman Mortgage principal D) Mortgage interest. E) Renter's insurance. 12) What should a home buyer consider when evaluating a house? A) Location of businesses and future construction projects. B) Zoning laws. Property values of the community. D) School system. E) All of these should be evaluated. 13) - 13) When Ingrid was selling her...
Complete the simplified settlement statement form (Excel spreadsheet provided) for the transaction described below. The various...
Complete the simplified settlement statement form (Excel spreadsheet provided) for the transaction described below. The various closing costs will be allocated between the parties in the customary way unless otherwise noted. Use a 360-day year and 30-day months for your prorations. Round dollar amounts to two decimal places for each step in your calculations. (Digits from 1 through 4 should be rounded down; digits from 5 through 9 should be rounded up.) The house at 314 Baker Street...
ROAGE MINDIAP Ch 05: Assignment - Making Automobile and Housing Decisions Term Answer Description Loan-to-value ratio...
ROAGE MINDIAP Ch 05: Assignment - Making Automobile and Housing Decisions Term Answer Description Loan-to-value ratio A. This insurance policy protects the mortgage lender from a default by its mortgage borrower, and it is typically required when the borrower uses a down payment that is less than 20%. Mortgage points B. This refers to the process in which a lender seizes and sells a property, because the borrower cannot make the scheduled principal and interest payments. Closing costs This is...
Real estate expert Mike Aubrey is a strategist! His objective is always to sell the house....
Real estate expert Mike Aubrey is a strategist! His objective is always to sell the house. He believes that ineffective sellers need a “reality check” or to realistically assess their situations. The purpose of this assignment is to identify/apply strategic concepts discussed in this class within the show’s context. The assigned episode is no longer available online, so it is summarized below. (If you are interested in viewing current episodes, click on the following link: http://www.hgtv.com/hgtv176/videos/index.html .) The following scenario...
Problem 4 and 5-7 House Appreciation and Mortgage Payments Say that you purchase a house for...
Problem 4 and 5-7 House Appreciation and Mortgage Payments Say that you purchase a house for $272,000 by getting a mortgage for $240,000 and paying a $32,000 down payment. If you get a 30-year mortgage with an interest rate of 7 percent, what are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Рayment What would the loan balance be in ten years? (Round the payment amount to the nearest cent but...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as a deductible medical expense? A. Cost of long-term care for a developmentally disabled person in a relative’s home. B. Special school for a deaf child to learn lip reading. C. Cost of elevator installed for individual who had heart bypass surgery (in excess of increase in value of individual’s home). D. Cost and care of guide dogs used by a blind person in his...
Sent Need the answers for that whole question paper True or false questions (25) has any...
Sent
Need the answers for that whole question paper
True or false questions
(25) has any effect SECTION TRUE OR FALSE QUESTION (40 Marks) The following questions indicate if it's True or False. Each question carries 2 Marks 1. Accounting Principle is general law or rule followed in the preparation of financial statements 2. Usefulness, objectivity and feasibility are the three basic norms generally found in accounting principles 3. The Cash book record only the cash payments 4. If a...
Please read the article and answer about questions. You and the Law Business and law are...
Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
11) 11) Frank and Diane want to buy a house. Which of the following do they need before they purchase a house? A) Down payment. B) Handyman Mortgage principal D) Mortgage interest. E) Renter's insurance. 12) What should a home buyer consider when evaluating a house? A) Location of businesses and future construction projects. B) Zoning laws. Property values of the community. D) School system. E) All of these should be evaluated. 13) - 13) When Ingrid was selling her...
ROAGE MINDIAP Ch 05: Assignment - Making Automobile and Housing Decisions Term Answer Description Loan-to-value ratio A. This insurance policy protects the mortgage lender from a default by its mortgage borrower, and it is typically required when the borrower uses a down payment that is less than 20%. Mortgage points B. This refers to the process in which a lender seizes and sells a property, because the borrower cannot make the scheduled principal and interest payments. Closing costs This is...
Problem 4 and 5-7 House Appreciation and Mortgage Payments Say that you purchase a house for $272,000 by getting a mortgage for $240,000 and paying a $32,000 down payment. If you get a 30-year mortgage with an interest rate of 7 percent, what are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Рayment What would the loan balance be in ten years? (Round the payment amount to the nearest cent but...
Sent
Need the answers for that whole question paper
True or false questions
(25) has any effect SECTION TRUE OR FALSE QUESTION (40 Marks) The following questions indicate if it's True or False. Each question carries 2 Marks 1. Accounting Principle is general law or rule followed in the preparation of financial statements 2. Usefulness, objectivity and feasibility are the three basic norms generally found in accounting principles 3. The Cash book record only the cash payments 4. If a...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
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