The Johnsons are buying a house that costs $210,000 and can afford a 20% down payment. If the Johnsons want the lowest monthly payment, which loan option would you recommend? a. 30 year FHA, 3. 5% down at a fixed rate of 6. 25% b. 30 year fixed, 20% down at a fixed rate of 6% c. 30 year fixed, 10% down at a fixed rate of 6% d. 15 year fixed, 20% down at a fixed rate 5. 5%.
If the Johnsons want the lowest monthly payment, the recommended loan option is Option b.
Data and Calculations:Cost of house = $210,000
Down payment = 20% or $42,000 ($210,000 x 20%)
Loan = $168,000 ($210,000 - $42,000)
Monthly Payments:Option a. 30 year FHA, 3. 5% down at a fixed rate of 6. 25%:
Cost of house = $210,000
Down payment = 3.5% or $7,350 ($210,000 x 3.5%)
Loan = $202,650 ($210,000 - $7,350)
Result:
Monthly Payment = $1,247.75
Sum of all periodic payments = $449,190.33
Total Interest = $246,540.33
Option b. 30 year fixed, 20% down at a fixed rate of 6%
Cost of house = $210,000
Down payment = 20% or $42,000 ($210,000 x 20%)
Loan = $168,000 ($210,000 - $42,000)
Result:
Monthly Payment = $1,007.24
Sum of all periodic payments = $362,608.16
Total Interest = $194,608.16
Option c. 30 year fixed, 10% down at a fixed rate of 6%
Cost of house = $210,000
Down payment = 10% or $21,000 ($210,000 x 10%)
Loan = $189,000 ($210,000 - $21,000)
Result:
Monthly Payment = $1,133.15
Sum of all periodic payments = $407,934.18
Total Interest $= 218,934.18
Option d. 15 year fixed, 20% down at a fixed rate 5. 5%
Cost of house = $210,000
Down payment = 20% or $42,000 ($210,000 x 20%)
Loan = $168,000 ($210,000 - $42,000)
Result:
Monthly Payment = $1,372.70
Sum of all periodic payments = $247,086.04
Total Interest = $79,086.04
Thus, if the Johnsons want the lowest monthly payment, the recommended loan option is Option b with a monthly payment of $1,007.24.
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Johnson's should opt for a loan with interest rate of 6.25% ; period of 30 years and a down payment of 20% of the loan amount. So, the correct option that matches the query is B.
The calculation of the interest can be done by using the simple interest. Under Simple interest method, the loan is calculated only on the principal amount and not on the interest.
Housing Loans The calculation when the down payment of 20% is made upfront the calculation will be shown as $42000. So, the interest will be charged only on the remaining balance of $168,000. The calculation can be shown as below,[tex]\rm Amount= \dfrac{Principal\ x\ Rate\ of\ Interesr\ x\ Time}{100}\\ \\\\ \rm Amount= \dfrac{168000\ \rm x\ 6\ \rm x\ 360}{100}\\ \\ [/tex]The interest to be paid each year will be calculated as under for a total number of 30 years.[tex]\rm Interest\ per\ Year= \dfrac{36288}{30}[/tex]So total interest to be paid each year will be $1209.6 which is lower than all the other options available in the hands of Johnson's.Hence, the correct option is B that it would be beneficial for Johnson's to opt for 20% down payment at an interest rate of 6% and for a period of 30 years.
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what is the most common goal of a trade agreement?
Answer:
For the United States, the main goal of trade agreements is to reduce barriers to U.S. exports, protect U.S. interests competing abroad, and enhance the rule of law in the FTA partner country or countries.
rent seeking is the lobbying for special treatment from the _____ to _____ or to divert consumer surplus or producer surplus away from others.
Answer: government; create economic profit
Explanation:
Which command is used to draw visible line form invisible line mode *
in microsoft window logo
PD
PU
PE
None of these
In Microsoft window logo, the command which is used to draw visible line that forms an invisible line mode is: A. PD.
Microsoft window logo is a programming language that was designed and developed at the Massachusetts Institute of Technology (MIT) by George Mills, based on the educational programming language called Logo.
Some of the commands that are used on Microsoft window logo include the following:
FORWARD (fd)BACK (bk)HOMERIGHT (rt)Pendup (PU)Pendown (PD)In Microsoft window logo, the Pendown (PD) command is used to instruct the turtle to draw a visible line or leave ink (tracks) on the screen as it moves. Thus, it is a command which is used to draw visible line while forming an invisible line mode.
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What are levels of production?
Amount of goods produced
Primary production
Producing at the Secondary level
Tertiary Production
Answer:
first one
Explanation:
Answer:
first one
Brainless and thanks plz
Explanation:
how is the domain rank different from other ranks?
In relation to ranks, the word "domain rank" is not well-known or standardized. You can be referring to a particular idea or measure regarding Website positioning or search engine optimization (SEO).
One search engine optimization (SEO) idea developed to gauge the effectiveness of a particular campaign is website authority or domain rank. Domain rating is a ranking indicator developed by Ahhrefs and used to show how strong a website's backlink profile is in comparison to other websites in their database.
Developed by Moz, the Domain Authority (DA) score for search engine rankings indicates how likely it is for a website to appear in search engine result pages (SERPs).
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Jim inherited a property that has not been maintained in years, the property needs new appliances, a roof, new siding, new electrical and plumbing. The cost of the updating far exceeds the value of homes in the area. The lack of feasibility in doing these repairs is called:
The lack of feasibility in doing repairs on the property inherited by Jim is called: incurable.
Incurable can be defined as any set of defects that is practically impossible for a property owner to fix, repair or cure, especially due to lack of maintenance and finance.
This ultimately implies that, incurable is a term that is associated with depreciation and it arises when the cost of repair of a property is far greater than the financial value of the property.
In conclusion, the lack of feasibility in doing repairs on the property inherited by Jim is called incurable.
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you’ve dreaded it for a while, but now you feel prepared. in 30 minutes you’ll have to terminate tim, a 12-year employee who is beloved by everyone in the firm. unfortunately, he just hasn’t performed very well since his wife died three years ago and while he was given every chance to regain his performance, he has just continued to slide. which of the following elements of communication is least likely to influence tim’s perception of your communication effectiveness?
Pace is the elements of communication that is least likely to influence tim’s perception of your communication effectiveness
Pace in this context refers to the speed at which the message is passed across to the receiver.
Effective communication entails a conveyed information in an effective and efficient manner.
In conclusion, the Option B is correct because Pace is the elements of communication that is least likely to influence tim’s perception of your communication effectiveness
Missing options includes "A)Tone, B)Pace, C)Indirect Non-verbals, D)Formailty"
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What is a trend in business
Name one advantage and one disadvantage to changing career paths.
Answer;
Advantage: Working in a new industry will give you the opportunity to get to know a whole different crowd of people and expand your career network.
Disadvantage: Because there are so many career opportunities available, you may be tempted to change job roles too frequently. This can have a negative effect in the long-term; as employers may worry that you won’t stay in any new role for very long.
The advantage of changing career is it may improve quality of life and increase the level of interest. The disadvantage of changing career path is It can be risky as it can be tempted to change in job roles.
What is Career?Career refers to the variety of experiences that you have at the time of working. It includes education, training and work experiences.
There are several advantages as well as disadvantages of changing a career, the advantages are high level of interest, helps to develop new skill and improves the quality of living.
Demerits of changing career paths are very risky as it may led to unemployment, more flexibility required etc.
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According to the demand-pull theory, inflation is caused by:
Answer:
Understanding Demand-Pull Inflation
Demand-pull inflation is a tenet of Keynesian economics that describes the effects of an imbalance in aggregate supply and demand. When the aggregate demand in an economy strongly outweighs the aggregate supply, prices go up. This is the most common cause of inflation.
Explanation:
hope it helps you
If the demand for a product decreases, what is likely to happen?
A.
The supply is likely to increase.
B.
The demand is likely to be inelastic.
C.
The price is likely to increase.
D.
The price is likely to decrease.
Jim has an annual salary of $96,000. His monthly expenses include a $2,500 mortgage payment, a $250 lease payment, $500 in minimum credit card payments, and a $425 payment on his speed boat. He also receives $1,200 in interest from his savings and other accounts each month. Calculate Jim’s DTI (debt-to-income) ratio. A. 30% b. 35% c. 40% d. 45% Please select the best answer from the choices provided A B C D.
The debt to income ratio of Jim for the particular year is 40%.
How to compute the debt-to-income ratio?Given,
Annual salary =$96,000
Interest received on saving account (monthly) =$1,200.
The interest received for the entire year will be:
[tex]\begin{aligned}\rm{Total\; Interest \;Income}&=\rm{Monthly\;Income}\times12\\&=\$1,200\times12\\&=\$14,400\end{aligned}[/tex]
Monthly expenses:
mortgage payment =$2,500; lease payment =$250; minimum credit card payment =$500; and speed boat =$425.
The yearly expenses will be:
[tex]\begin{aligned}\text{Total Expenses}&=\text{Sum of all Monthly Expenses}\times12\\&=(\$2,500+\$250+\$500+\$425)\times12\\&=\$3,675\times12\\&=\$44,100\end{aligned}[/tex]
Now, the debt to income ratio is computed as follows:
[tex]\begin{aligned}\text{Debt to Income Ratio}&=\dfrac{\text{Total Expenses}}{\text{Total Interest Income + Annual Salary}}\\&=\dfrac{\$44,100}{\$14,400+\$96,000}\\&=0.399\;\text{or}\; 40\%\end{aligned}[/tex]
Therefore, option c. 40% is correct.
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Which financial tool is most important when planning for your future financial goals? Enrolling in a high interest savings account Creating a budget Mortgaging a house Taking on extra debt.
The financial tool that is vital when planning for your future financial goals is creating a budget.
A budget simply means an estimate of the income and the expenditure of an economic entity for a particular period of time.
It should be noted that a budget is vital for an individual to plan his or her expenses. For example, if one wants to buy a car in the future, the person can make a budget for it.
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Answer:
Creating a budget
Explanation:
Price floors usually result in ___________________.
The barber of Town shaves all men living in the town. No man living in the town is allowed to shave himself. The barber lives in that town. Who then shaves the barber of the town?
Answer:
or another man cus u said no man can do it himself so that must mean every other man is a barber right???
Explanation:
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.
Year 1:
Sold $1,346,200 of merchandise (that had cost $976,400) on credit, terms n/30.
Wrote off $20,700 of uncollectible accounts receivable.Received $670,500 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Year 2:
Sold $1,599,900 of merchandise (that had cost $1,304,800) on credit, terms n/30.
Wrote off $28,300 of uncollectible accounts receivable.
Received $1,219,300 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Required:
Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense.
Answer:
General Journal
Debit
Credit
a(1)
Accounts receivable
$1,349,100
Sales
$1,349,100
a(2)
Cost of goods sold
$977,100
Merchandise inventory
$977,100
b
Allowance for doubtful accounts
$18,100
Accounts Receivable
$18,100
c
Cash
$669,200
Accounts Receivable
$669,200
d
Bad Debt
Expense
[Refer working note 1]
$35,307
Allowance for doubtful accounts
$35,307
e(1)
Accounts receivable
$1,514,600
Sales
$1,514,600
e(2)
Cost of goods sold
$1,299,000
Merchandise inventory
$1,299,000
f
Allowance for doubtful accounts
$26,700
Accounts Receivable
$26,700
g
Cash
$1,110,700
Accounts Receivable
$1,110,700
h
Bad Debt
Expense
[Refer working note 2]
$36,507
Allowance for doubtful accounts
$36,507
.
.
Working note 1 - Computation of bad debt expense for the
year 1
Accounts receivables beginning balance
$0
Add: Credit sales
$1,349,100
Less: Collections
($669,200)
Less: Write-off's
($18,100)
Accounts receivables ending
balance
(a)
what could you do to avoid a miscommunication with a friend
Describe Globalization in your own words
Answer:
Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. It can also mean the speedup of movements and exchanges all over the planet. It is important because it changes the way nations, businesses and people interact.
Hope that helped?
Explanation:
Dr. Montgomery recently graduated from medical school and his wife bought him an engraved stethoscope. The stethoscope cost $160. 0. The sales tax in his city is 8%. What is the total cost of the stethoscope in dollars and cents including sales tax?.
That's correct :)
Which employees typically work in an office environment within schools? Check all that apply.
School Psychologist
School Secretary
qInstructional Designer
Tutor
Librarian
Teacher
Answer:
B, E, F
Explanation:
When Frozen DeLites Ice Cream moved from its longtime storefront to a famous resort area, it took a big risk. However, the owners were confident that its unique ice cream treats would win customer raves. Fortunately, one of the members of the family business was convinced the shop needed to stay in touch with its customers. Frozen DeLites collects names and email addresses of its customers and maintains a presence on a few social media sites in order to send messages about promotions and coupons to valued customers.
Marketing professionals refer to this strategy as: _________
Marketers professionals refer to the strategy of collecting customer names and email addresses and maintaining a presence on social media sites to send messages about promotions and coupons to valued customers like relationship marketing.
This strategy of creating relationships with customers has as its main objective the generation of value and customer loyalty through a closer and more direct relationship.
Relationship marketing is a strategy that has had a greater impact with technological development, social media for example, has strengthened communication between company and customer, making the relationship closer and more dynamic.
Therefore, companies that use relationship marketing create value through content that generates benefits and customer engagement with the company, increasing loyalty and positioning in the market.
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which statement best explains why money was invented?
plz helpp ill love u forever
Answer:
The answer is A.
Explanation:
In each other presentation, choosing the “Reuse Slides” tool and then browsing to find the credits slide in the original presentation.
Brainliest please!!!!!!!!!
the narrowest official definition of the money supply is
Luis has a biweekly gross pay of $770 and claims 2 federal withholding allowances. Luis has all of the following deductions from his gross pay: federal tax from the following table Social Security tax that is 6. 2% of his gross pay Medicare tax that is 1. 45% of his gross pay state tax that is 19% of his federal tax Determine how Luis’ net pay will be affected if he increases his federal withholding allowances from 2 to 3. A. His net pay will decrease by $19. 0. B. His net pay will increase by $19. 0. C. His net pay will decrease by $22. 61. D. His net pay will increase by $22. 61.
Based on the information given, it should be noted that the correct option will be D. His net pay will increase by $22.61.
What is a net pay?A net pay simply means the take-home pay. It's the earning of an employee after the deductions are subtracted from the gross pay of the employee.
From the complete information, it can be deduced that Luis has a biweekly gross pay of $770 and claims 2 federal withholding allowances. Taking the fact that the security tax, Medicare tax, etc are taken into consideration and the federal withholding allowances increased from 2 to 3, the net pay will be $22.61.
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The net pay of Luis will increase by $22.61 due to the decrease in the federal withholding allowances from 2 to 3.
Computation of net pay based upon the different levels of federal withholdingsGiven,
Gross pay =$770
2 Federal withholding allowances =$50(taken from the reference table)
3 Federal withholding allowances =$31(taken from the reference table)
Federal state tax rate =19%
First, the state tax rate and the total amount of withholding for 2 Federal withholding allowances are computed:
[tex]\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$50\times19\%\\&=\$9.50\end{aligned}[/tex]
[tex]\begin{aligned}\text{Total Amount of 2 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$50+\$9.50\\&=\$59.50\end{aligned}[/tex]
Now, the state tax rate and the total amount of withholding for 3 Federal withholding allowances are computed:
[tex]\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$31\times19\%\\&=\$5.89\end{aligned}[/tex]
[tex]\begin{aligned}\text{Total Amount of 3 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$31+\$5.89\\&=\$36.89\end{aligned}[/tex]
The difference in the net pay will be the difference between $59.50 and $36.89, which is $22.61.
Therefore, Luis withholding will decrease from $59.50 to $36.89 that is increasing the net pay by $22.61
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Besides pricing and issues directly related to costs, what are at least two other considerations you would need to think about before marketing a product in multiple countries?
Imagine you are a board game creator with a great new idea, but little business experience. What are some of the benefits you could get out of going to a board game conference or convention?
Craft a short (three or four sentence) sales pitch with you as the product—that is, some service you offer, or maybe selling yourself as an employee. To help create the message, imagine you happened to be entering an elevator the same time as the potential customer/client/employer. What could you say in the short time it takes to go between a few floors to convince them to “buy” what you are offering?
You are opening a store that sells children’s hiking gear, aimed especially at very small children (preschoolers). What kind of brand could help you increase sales? What kind of logo might you use? Who is, ultimately, your target audience?
60 IF you answer these questions ASAP
EXPLAIN YOUR ANSWERS
Answer:
Publicity, connections, promotion, tips, advice, business partners, investors, Offers.
Explanation:
Conventions and conferences for anything are always meant for meeting others like you. They are created for social connection.
Two considerations to think about before marketing a product in multiple countries are cultural differences and language barriers.
What is marketing?Marketing is the process of discovering, creating, and delivering value to a target market in the form of goods and services.
Cultural differences and language barriers are two factors to consider before marketing a product in multiple countries.
Different cultures have different values, customs, and preferences, which can influence how products are perceived and used.
Attending a board game conference or convention could provide several advantages as a board game creator with little business experience.
These events allow you to network with other game designers, publishers, and distributors while also showcasing your game to potential customers.
A brand that promotes outdoor exploration and adventure for young children could help increase sales for a store that sells children's hiking gear aimed at preschoolers.
Thus, this can be concluded regarding the given scenario.
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Under riparian rights, if flowing water is shallow, a property owner usually owns to A) the center of the water. B) the average high-water mark. C) the next county. D) the edge of the water.
There are different kinds of rights. Under riparian rights, if flowing water is shallow, a property owner usually owns to center of the water.
Riparian rights are regarded as the legal rights of owners of land that is known to be bordering on a river or other waterbodies.
A "riparian owner" is simply known as an individual who possess a land that runs into a river. Riparian rights are simply not known as ownership rights but simply as the rights of access to the water for drinking water, bathing, etc.
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What is the total payment required to pay off a promissory note issued for $400.00 at 6% ordinary interest and a 90-day term?
The total payment required to pay off a promissory note issued for $400.00 is $406.
Using this formula
Total payment=Promissory note+(Promissory note× Ordinary interest× 90 day term/360)
Where:
Promissory note=$400
Ordinary interest=6%
Let plug in the formula
Total payment= $400 + ($400 × 6% × 90 days ÷ 360 days)
Total payment= $400 + $6
Total payment= $406
Inconclusion the total payment required to pay off a promissory note issued for $400.00 is $406.
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What is the name of the tab that becomes available after you add and select an image in your PowerPoint presentation?
Home
Insert
Picture
View
Answer: Picture tab
Explanation:
When you insert a picture, PowerPoint for the web places the picture on your slide and puts a Picture tab on the ribbon. With the picture selected, click the Picture tab.