Jimmie is purchasing a home with a purchase price of $350,000. He has been approved for a loan with an 85% LTV. What is his down payment

Answers

Answer 1

Based on the information given the down payment is $52,500.

Using this formula

Down payment=(100%-Approved loan percentage)×Purchase price

Where:

Approved loan percentage=85%

Purchase price=$350,000

Let plug in the formula

Down payment=(100%-85%)×$350,000

Down payment=15%×$350,000

Down payment=$52,500

Inconclusion the down payment is $52,500.

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Related Questions


What were results of the federal government deregulating the airline industry in 1978, known as the Airline Deregulation Act?
(Select all that apply.)
A- Many small airlines went out of business.
B-Consumers gained better (lower) prices for airfare.
C- Large airlines were able to improve productivity.
D-Many small airlines were able to penetrate the market.

Answers

Answer:

A, B, C

Explanation:

Consumers gained better (lower) prices for airfare.Large airlines were able to improve productivity.Many small airlines went out of business.

The results of the federal government deregulating the airline industry in 1978, known as the Airline Deregulation Act, were Many small airlines went out of business. Consumers gained better (lower) prices for airfare. and Large airlines were able to improve productivity. Option a b c are correct answer.

One of the main impacts of airline deregulation was that it led to increased competition in the industry. This increased competition put financial strain on smaller airlines that were not able to compete effectively with larger, more established carriers. As a result, many small airlines went out of business. Option a b c are correct answer.

Airline deregulation opened up the market to more competition, which ultimately resulted in lower airfare prices for consumers. With increased competition, airlines had to offer more competitive pricing in order to attract customers. This gave consumers more options and the ability to find lower-priced flights. Deregulation allowed large airlines to have more flexibility in terms of their routes, pricing, and operations. This led to improved productivity for these larger carriers, as they were able to optimize their operations, streamline processes, and make decisions that were more responsive to market demands.

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a) Staples Corporation shows a credit balance of $21,500 in Allowance for Doubtful Accounts at December 31, 2017, before the current year's provision for uncollectible accounts. The accounts receivable aging schedule revealed the following:
Not yet due
1–30 days past due 31–60 days past due 61–90 days past due Over 90 days past due
Estimated Percentage Uncollectible
$250,000 3% 660,000 6% 125,000 12%
85,000 28% 25,000 42%
Compute the total uncollectible and journalize the entry on December 31, 2019, to record bad debts expense.

Answers

The total uncollectible for Staples Corporation is $74,900 and the journal entry is:

Date                  Account Title                                            Debit             Credit

Dec. 31              Uncollectible Account Expense           $74,900

                         Allowance for doubtful accounts                                 $74,900

Total estimated uncollectible is:

= (250,000 x 3%) + (660,000 x 6%) + (125,000 x 12%) x (85,000 x 28% + (25,000 x 42%)

= $96,400

The uncollectible account balance is:

= Estimated uncollectible - Allowance for doubtful debt credit balance

= 96,400 - 21,500

= $74,900

In conclusion, the total uncollectible balance is $74,900

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two special courses suggested for the career and has offered reasons for their placement Agriculture, Food & Natural Resources.two special courses suggested for the career and has offered reasons for their placement Agriculture, Food & Natural Resources.

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Answer:

The Bachelor of Science Degree in Agriculture, Food and Natural Resources Education is designed to prepare students for careers as school-based agriculture, food and natural resources teachers at the secondary-level, careers in agricultural and natural resource education fields, or for professional or graduate studies.

Requirements for the Bachelor of Science Degree in Agriculture, Food and Natural Resources Education

The University requirements for bachelor’s degrees as described in the Undergraduate Education section of this catalog; 120 credits, including general elective credits, are required for the Bachelor of Science degree in Agriculture, Food and Natural Resources Education.

The University’s Tier II writing requirement for the Agriculture, Food and Natural Resources major is met by completing Community Sustainability 301. That course is referenced in item 3. below.

Students who are enrolled in the Agriculture, Food, and Natural Resources Education major leading to the Bachelor of Science degree in the Department of Community Sustainability may complete an alternative track to Integrative Studies in Biological and Physical Sciences that consists of the following courses: Biological Science 162 and 172, and Chemistry 141. The completion of Biological Science 172 satisfies the laboratory requirement. Biological Science 162 and 172, and Chemistry 141 may be counted toward both the alternative track and the requirements for the major referenced in item 3.

Explanation:

Rent payments that are processed through a third-party network after March 11, 2021, should be reported to the taxpayer on:

Answers

After March 11, 2021, such rent payments as described above should be reported on Form 1099-MISC, Miscellaneous Information.

The subject of rent payments made through third party networks is covered under the American Rescue Plan Act which:

Was signed by President Biden on March 11, 2021.Clarifies the scope of Form 1011-K.

The Act shows that when rent payments are made through third-party networks, they should be treated as miscellaneous information and reported on Form 1099-MISC.

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Choose the action that is supported by egoism, but might seem unethical. a.) Using skills you learned from your former job to get promoted at your new job. b.) Hiring a company to clean your neighbor's lot without their permission so your property value will increase. c.) Lending a friend a copy of a library book while he is in the hospital. d.) Introducing your neighbor to your favorite exercise regimen when he wants to lose weight.

Answers

The action which is supported by egoism, but might seem unethical from the list of available choices is:

b.) Hiring a company to clean your neighbor's lot without their permission so your property value will increase

Egoism has to do with the specific self interest which a person has on himself and does things which serves his benefit.

Ethics on the other hand is doing the right thing, at the right time, in the right circumstance.

With this in mind, the action which is supported by egoism but MIGHT SEEM unethical is hiring a company to clean your neighbor's lot without their permission so your property value will increase

Therefore, the correct answer is option B

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Suppose that you are in charge of an insurance company. Two kinds of people want insurance, healthy people who probably will not get sick this year and unhealthy people who probably will get sick this year. Healthy people expect to pay, on average, $4,000 on medical bills this year. Unhealthy people expect to pay, on average, $8,000 on medical bills this year. Consider these assumptions and then answer the problem.
(i) People will not pay more for insurance than they expect to pay in medical bills; people are risk neutral. As such, healthy people will not pay more than $4,000 for insurance, and sick people will not pay more than $8,000.
(ii) You want to insure as many people as possible, but you cannot charge less for insurance than you expect to pay out. If you do, you will go bankrupt, and you will not be able to pay the medical bills of some people who get sick.
(iii) People know whether they are healthy or unhealthy, but it is either impossible or illegal for you to know whether a person is healthy or unhealthy. This means that you cannot charge less to healthy people and more to sick people since you do not know which individuals fall into each group.
(iv) There are an equal number of healthy and unhealthy people.
How much will you charge for insurance in equilibrium, and who will buy insurance?
a. You charge $2,000 and everyone buys insurance.
b. You charge $3,000 and only unhealthy people buy insurance.
c. You charge $1,000 and everyone buys insurance.
d. You charge $1,000 and only healthy people buy insuran.
e. You charge $3,000 and everyone buys insurance.

Answers

The equilibrium premium, which balances the premiums charged to healthy and unhealthy people, charged for insurance under this scenario is e. You charge $3,000 and everyone buys insurance.

$3,000 will be affordable to both the healthy and the unhealthy.  This amount of premium will enable both classes to buy insurance.

It will not benefit the company to charge:

$2,000 and enable everyone to buy insurance$3,000 and enable only unhealthy people to get insurance$1,000 so that only the healthy people to buy insurance$1,000 because only healthy people buy insurance.

Thus, the insurance premium charged should be Option E.

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This term considers whether the organization had an operating surplus, broke even,
or operated at a loss.

Answers

Answer:

break even is when an organisation doesn't make profit nor loss.

An approach to the SDLC that plans the project in advance and then progresses according to the plan is called what

Answers

Answer:

source-

One of the most common predictive models is the waterfall model. It assumes various phases in the SDLC that can occur sequentially, which implies that one phase leads into the next phase. In simple words, in waterfall model, all the phases take place one at a time and do not overlap one another.

in your own words-  

One of the foremost common prognostic models is that the falls model. It assumes varied phases within the SDLC which will occur consecutive, which suggests that one section leads into following section. In straightforward words, in falls model, all the phases occur one at a time and don't overlap each other.

Explanation:

source is where i got the imformation and the in your own words is it fully rewritten, sorry its a bit lengthy and hope this helps have a god day/night/noon! :)

In terms of measuring and validating supply savings: Group of answer choices static markets, technologies, and volumes facilitate the process. there is a universal definition of supply savings. information systems easily capture savings. in many cases there is an inability to convert savings into profit.

Answers

It should be noted that in terms of measuring and validating supply savings, in many cases there is an inability to convert savings into profit.

It should be noted that an accurate measurement of cost savings is easier said than done in the supply chain. Despite this, learning how to address the measurement is vital for the competitiveness of a company.

Therefore, in terms of measuring and validating supply savings, in many cases there is an inability to convert savings into profit. Addressing the measurement and reporting the challenges is vital for the profitability of a business.

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If a process only has random variations, then 95.5% of the time the sample averages will fall within approximately

1 standard deviation of the population mean

2 standard deviation of the population mean

3 standard deviation of the population mean

4 standard deviation of the population mean

Answers

The answer is 3 standard deviation of the population mean

2. Why do many people have a fraught relationship with money

Answers

People have a fraught relationship with money due to the anxiety that comes with it and the fear that it might run out.

People have a lot of judgment, it does not matter if they have a lot of cash or if they do not. A lot of people do not have a good relationship with money because of the fact that money makes them anxious.

A lot of insecurities are associated with money as well. Without money, people live in a lot of tension, they fear poverty. When people have money they also fear that the money would run out.

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Consider a property with NOI of $72,000 and a debt coverage ratio of 1.2 applied to first year NOI. What would be the estimated monthly mortgage payment

Answers

Answer:

$10000 per month

Explanation:

I don't know

what the number of units to be produced it the firm desires to make a profit of birr 10,000 assuming the fixed cost, variable cost, per unit and selling price per unit are 50,000 birr 10 and birr 20 respectively.​

Answers

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6000 units, the number of units to be produced it the firm desires to make a profit of birr 10,000 assuming the fixed cost, variable cost, per unit and selling price per unit are 50,000 birr 10 and birr 20 respectively.

What is the variable cost?

A variable cost is a business expense that varies according to how much a business provides or sells. Variable costs rise or fall in relation to a company's manufacturing or sales volume, rising as production increases and falling as production drops. Variable cost is defined as the type of cost that varies according to changes in the production levels.

According to the given amount are the based on the

sales = variable cost + fixed cost + profit

(20X) =  (10X) + (50000) + (10000)

sales = 6000 units

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Prepare journal entries to record the following under
(a) the direct write-off method and
(b) the allowance method. May 3 Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company. May 21 Sal Company unexpectedly receives payment of $2,000 cash from Joey Company toward its previously written-off account. Sal records recovery of this bad debt.

Answers

The  journal entries to record the direct write-off method and  the allowance method are:

Journal entries

a. May 3

Debit Bad debt $2,000

Credit Account receivable- Joey Company $2,000

b. May 21

Debit  Accounts Receivable—Joey Company $2,000

Credit Allowance for Doubtful Accounts $2,000

Debit Cash $2,000

Credit  Accounts Receivable—Joey Company $2,000

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In 2019, Krista paid $1,600 in qualified adoption expenses to adopt a U.S. child. The adoption was not finalized, and in 2020, she paid an additional $2,500 in qualified adoption expenses. The adoption failed again in 2020 and never became final. What is the maximum amount Krista may be eligible to claim for the Adoption Credit on her 2020 return

Answers

Considering the available options, the maximum amount Krista may be eligible to claim for the Adoption Credit on her 2020 return is "$4,100."

Adoption Credit Information

Based on the rules and regulations made by the government, if an individual made more than one attempt to adopt one eligible U.S. child, such individual should add the amounts spent and complete only the “Child 1” line.

However, it is allowed to complete more than Child 1 line when individuals adopt or tried to adopt two or three eligible children.

This implies that Krista would have to add the expenses together, which is $1,600 + $2,500 = $4,100.

Hence, in this case, it is concluded that the correct answer is "$4,100."

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I believe that morgage option 1 is the best option. There are three elements of the mortgage, and three reasons why I believe this. The first is the interest rate. The second is the if it is fixed or adjusted. The last reason, is the length of the mortgage. I believe that the mortgage option one is the best choice. This is for two coinciding reasons. The first reason is that Mortgage opotion one has one of the lowest interest rates. While it looks like mortgage option two has the lowest mortgage rate, it most likely will not in the future. This is because mortgage option two is an annually adjusted mortgage, which means that the interest rate will most likely increase in the future according to the mortgage consultant. So, mortgage option one and three are the best options. The second and final reason that makes mortgage option one the best choice is the mortgage length. Mortgage option one's length is 30 years. While mortgage option three's is 8 years. While 8 year ssounds like a better length of time, it really is not. At the end of those 8 years whatever has not been paid off on the mortgage has to be paid off immediately. which makes mortgage option one

Answers

Answer:

new sasagotan na holahola hahhaha thanks bye love you bebe

In the long-run, the supply of high-skill is perfectly elastic.

Select one:
True
False

Answers

Answer:

im almost postive is true

Explanation:

On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $31,000 and $500, respectively. During Year 2, Kincaid reported $72,500 of credit sales, wrote off $550 of receivables as uncollectible, and collected cash from receivables amounting to $74,550. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.
What effect will recognizing the uncollectible accounts expense for Year 2 have on the elements of the financial statements?
a) Increase total assets and retained earnings
b) Decrease total assets and increase retained earnings
c) Decrease total assets and net income
d) Increase total assets and decrease net income

Answers

D Increase total assets and decrease net income

As a result of the uncollectible accounts being recognized in Year 2, there will be a c) Decrease in total assets and net income.

What would recognizing the uncollectible accounts do?

When uncollectible accounts are recognized, it means that the accounts receivables will reduce. This will therefore reduce total assets.

The uncollectible accounts will also be recognized as expenses and sent to the profit and loss account which would have the effect of reducing the net income.

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True or False: The cost per exposure of most online advertising channels is difficult to account for.

Answers

Answer:

True, I just think this is a true thing due to exposure and costs of ads. And how many businesses go outta business.

"The cost per exposure of most online advertising channels is difficult to account for" is a correct statement. Thus, the statement is true.

What is advertising channels?

An advertising channel is any avenue through which a corporation advertises its products and services or informs the public about a campaign. With the introduction of internet technologies to supplement conventional media advertising, the number of channels accessible to marketers has increased dramatically.

Most online advertising channels have a tough cost per exposure to account for since paper ads do not reach individuals who stay at home, but online ads are everywhere on the internet, so if the individual have a cellphone, they will see it. It is also less expensive because on paper more supplies are required, however online you simply need to understand how to program.

Therefore, it can be concluded that the above statement is true.

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Speciality Steel Inc. will manufacture and sell 250,000 units of their product next year. Fixed costs will be $250,000. Variable costs will be 40% of sales. The firm wants to achieve a level of earnings before interest and taxes of $260,000. What selling price per unit is needed to accomplish this

Answers

Based on the amount to be sold and the intended level of earnings, the selling price per unit should be $3.40

The Contribution margin needed is:

= Fixed cost + Required earnings

= 250,000 + 260,000

= $510,000

To get to this amount, the sales should be:

Contribution margin = Sales x ( Selling price - Variable cost)

510,000 = 250,000 × 0.6x

510,000 = 150,000x

x = 510,000 / 150,000

x = $3.40

In conclusion, the selling price is $3.40

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What is 48976897617xitself

Answers

Answer:

Hey mate....

Explanation:

This is ur answer....

Wth....Is that even a question....Imao

Well I am getting this....

2.39873650E+21

Hope it helps!

Brainliest pls!

Follow me! :)

Magnus was just reprimanded by his supervisor for sending personal emails and shopping online during company time. Magnus was reprimanded for:

Answers

Answer:

khana iridium 88 egg e

Explanation:

d run jdd

Explain why there are advantages to a movie studio operating in southern California, rather than in, say, Florida.

Answers

There are advantages to a movie studio operating in southern California

due to cheap labor and land and numerous scenery.

California is a state in which movie producers prefer operating in as a result

of cheap labor and land which helps to cut the cost needed for producing a

movie.

California also has a lot of scenery such as rivers, mountains etc which

makes the movies more appealing and  is also where Hollywood is located

which is where most movie production and promotion takes place.

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What is Ministry of Freedom ?

The Ministry of Freedom Program was founded by Jono Armstrong who is a successful affiliate, generating 8-figure income. He's developed this full training + mentoring + coaching program to help others to achieve similar success.

Answers

Answer:

The Ministry of Freedom Program was founded by Jono Armstrong who is a successful affiliate, generating 8-figure income. He's developed this full training + mentoring + coaching program to help others to achieve similar success.

The Brital Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June:



Direct Materials processed: 29,500 gallons

Answers

The Gross Margin Percentage is 31.62%.

Sales Price = (14,000 gallon*$3.5 + 15,500 gallon*$6)

Sales Price = $49,000 + $93,000

Sales Price = $142,000

Total Processing Costs = $49,000

Separable Costs = $13500 + $34600

Separable Costs = $48,100

Gross profit = Sales Price - Total - Processing Costs- Separable Costs

Gross profit = $142,000 - $49,000 - $48,100

Gross profit = $44,900

Gross Margin Percentage = Gross profit/Sales Price * 100

Gross Margin Percentage = $44900 / $142000 * 100

Gross Margin Percentage = 31.62%

Therefore, the Gross Margin Percentage is 31.62%.

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You receive a $15,000 signing bonus from your new employer and decide to invest it for 2 years. Your banker suggests two alternatives, which both require a commitment for the full 2 years. The first alternative will earn 8% per year for both years. The second alternative earns 6% for the first year and 10% for the second year. Interest compounds annually. Which would you choose? Justify your choice by the calculations.

Answers

Answer:

8% plus 8%

Explanation:

8% plus 8% will yield 16.64% total and the 6% and 10% yields 16.60% total

At a single-phase, multiple-channel service facility, customers arrive randomly. Statistical analysis of past data shows that the interarrival time has a mean of 20 minutes and a standard deviation of 4 minutes. The service time per customer has a mean of 15 minutes and a standard deviation of 5 minutes. The waiting cost is $200 per customer per hour. The server cost is $25 per server per hour. Assume general probability distribution and no buffer capacity restriction

Required:
a. Find the optimal number of servers to be employed to minimize the total of waiting and server costs.
b. Find the average waiting time and the average total time through the system for the optimal case.
c. Find the cost per hour, average waiting time, and average flow time for one server if the probability distributions for the interarrival time and service time are assumed to be exponential and the mean values remain the same. .

Answers

Cost per hour with one server = $ 59.00

Cost with 2 servers = $ 52.19

Cost with 2 servers = $ 75.40

Total cost with 2 servers is the lowest ($ 52.19). Therefore, two servers are optimal.

b) With 2 servers,

Average waiting time, Tq = 0.2188 minutes

Total time = Tq+p = 0.2188+15 = 15.2188 minutes

c) Arrival rate, \lambda = 60/20 = 3 per hour

Service rate, \mu = 60/15 = 4 per hour

Lq = \lambda 2/(\mu*(\mu-\lambda)) = 32/(4*(4-3)) = 2.25

Cost per hour = Lq*Cw+Cs = 2.25*200 + 25 = $ 475

Waiting time, Wq = Lq/\lambda = 2.25/3 = 0.75 hour = 45 min

Flow time = Wq+1/\mu = 0.75+1/4 = 1 hour = 60 min

The value proposition is____

Answers

Answer:

A value proposition states the: specific benefits a product or service offering provides to a buyer.

Explanation:


A value proposition states the: specific benefits a product or service offering provides to a buyer.

Identify the function in the organisation you have chosen​

Answers

Answer:

Determination of activities,

Grouping of activities,

Allotment of duties to specified persons,

Delegation of authority,

Defining relationships, and.

The co-ordination of various activities.

Summarize the relationship between knowledge and skill and the level of wages in the labor
market
?

Answers

Answer:

The relationship between knowledge and skill is easy to explain. If you have the knowledge (college degree) then companies will probably hire them because even if they don't have the skill, they are credible and can still be taught. Someone with skill but no degree is viewed as not as valuable.

Explanation:

Just as in any market, the price of labor, the wage rate, is determined by the intersection of supply and demand. When the supply of labor increases the equilibrium price falls, and when the demand for labor increases the equilibrium price rises.
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