A 30-year fixed-rate mortgage is available now at 5% APR. Monthly payments (360 of them) will be made on a $250,000 loan, the realtor says that if you wait several months to obtain a mortgage, the APR could be as high as 6%, and the monthly payments will jump by 20%. a) Is the realtor's claim true? b) If not, what percent increase in monthly payment will result from this 1% increase in APR?
Q: CALCULATE CASH FLOW TO CREDITOR'S FOR fy24
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Financial Accounting
A: Step 1: Define Capital GainsCapital gain in the context of stocks represents the difference between…
Q: please do them right. i will upvote.
A: To solve this problem, we need to understand the rules for deducting start-up expenditures.…
Q: Dart Inc. began operations on January 1, 2019. Dart sells a single product for $10 per unit. During…
A: In absorption costing, we classify costs into two main categories: product costs and period…
Q: Explanation
A: Explanation of Consistency Principle:The Consistency Principle requires that a company use the same…
Q: Give true solution for general accounting question
A: Step 1: Managerial ControlManagerial control is a vital function of management. It is a…
Q: WHAT IS SPACEX'S OPERATING CASH FLOW
A: Statement of Cash Flows (Indirect Method)Cash flows from operating activities: Net income…
Q: General Accounting
A: Step 1: Since we're dealing with a series of equal payments over a predetermined length of time, we…
Q: George recently received a great stock tip from his friend, Mason. George didn't have any cash on…
A: First, we need to determine the total amount of interest George paid in 2024. According to the…
Q: Need help
A: The monthly payment A can be solved as:A = P × (A/P,i,n) Solve for the annuity payment factor…
Q: Hemming Company reported the following current-year purchases and sales for its only product. Date…
A: Requirement 1:Preparation of perpetual inventory report under the FIFO method by using the following…
Q: Please need answer for this accounting question
A: Step 1: Define Return on AssetReturn on asset (ROA) is a common profitability ratio to assess the…
Q: Solve this financial accounting question
A: Step 1: Define Ending InventoryEnding inventory is the level of finished goods left with the company…
Q: Hello tutor provide solution this accounting question
A: Step 1: Introduction to the Negative Shareholders' EquityA negative value of shareholders' equity is…
Q: Provide solution this accounting question
A: Question 1:• Step 1: Calculate the total direct labor hours (DLH)• Step 2: Calculate the overhead…
Q: Provide Financial Accounting Question
A: Step 1: Introduction to stockholders' equityStockholders' equity refers to the residual value of the…
Q: In 2024, Tom and Alejandro Jackson (married filing jointly) have $210,000 of ordinary taxable income…
A: To compute Tom and Alejandro Jackson's 2024 tax liability, we will:Analyze and categorize the…
Q: Hello tutor answer this accounting question
A: Step 1: Define Manufacturing CostIn cost accounting, manufacturing costs are considered to be the…
Q: General Accounting
A: Step 1: Introduction to the Equivalent Units of ProductionThe equivalent units of production are the…
Q: When preparing a bank reconciliation statement, outstanding checks would: a. increase the…
A: Outstanding checks are those checks that a company has issued and recorded in its general ledger…
Q: Need help with this finance question
A: What is required for the question is to solve for the long term capital gain or capital loss.…
Q: Need help with this accounting question
A: Step 1: Define Contribution MarginThe contribution margin is the surplus revenue of the variable…
Q: Need help with this question
A: Step 1: Introduction to Property, Plant and EquipmentProperty, plant, and equipment refers to those…
Q: Please need answer
A: Step 1: Define Gross Profit MarginGross profit margin is a percentage value used to analyze the…
Q: Hi expart Provide correct calculation
A: Step 1: Introduction to the DuPont FormulaDuPont formula is an important formula that is used to…
Q: Provide answer this accounting question not use chatgpt
A: Step 1: Define Variable CostingIn managerial and cost accounting, the notion of variable costing…
Q: Lopez Company is considering replacing one of its old manufacturing machines. The old machine has a…
A: The net cost of keeping the old machine is the sum of its book value and the total variable…
Q: please do them right. i will upvote.
A: Required A:Step 1: Allocate the Purchase PriceThe $63,000 purchase price must be allocated to the…
Q: A partnership begins its first year of operations with the following capital balances: Allegan,…
A: First YearInterest on Equity AlleganBerrienKentCapital balances$110,000$80,000$110,000Multiplied by:…
Q: hhhhhhhare
A: SAN FERNANDO FASHIONS COMPANY Income Statement For the Year Ended December 31,…
Q: Marc and Mikkel are married and earned salaries this year of $66,300 and $25,800, respectively. In…
A: To compute Marc and Mikkel's 2022 federal income tax liability (or refund), let's go step by step.…
Q: Hi expart need help with the general accounting question
A: Step 1: Define Contribution Margin AnalysisThe contribution margin analysis for a firm usually…
Q: 03:56 HD HD 23%. Your subscription will expire on Nov. 5. Turn on auto-renew to keep accessing…
A: To solve the problem, we need to determine how many shares to buy or sell at the end of year 1 to…
Q: minesh
A: Here,The buyer has a $9400 invoice with terms 1/10,n/30.Also,The buyer is borrowing money at 7%…
Q: General Accounting
A: There are so many possibilities for this problem.The information about compounding the amount is not…
Q: Can you please solve this accounting question? Not use ai
A: Step 1: Define Stock RepurchaseWhen a company repurchases the shares that it had sold to the…
Q: Income Statement Balance Sheet Balance Sheet FY23 FY24 FY23 FY24 Current Assets Current Liabilities…
A: Step 1: Review the Key Financial DataSales increased from FY23 (11,305,000,000) to FY24…
Q: Piedmont Company segments its business into two regions-North and South. The company prepared the…
A: Explanation: To calculate Break even point in dollar sales, following formula is to be used:Break…
Q: Not use ai please don't
A: Step 1: Define Selling and Administrative ExpensesSelling and administrative expenses commonly…
Q: please help me answer
A: First, we need to calculate the gross pay for each employee. This is done by multiplying the number…
Q: QUESTION 2 Clapton Guitars makes a variety of musical products that it sells to retailers. The…
A: Step 1:The predetermined overhead rate for molding and painting department is calculated as follows:…
Q: Solve this one
A: Step 1: Define Cash Flow StatementThe cash flow statement is a financial statement that shows the…
Q: Which of the following is a contra account?
A: Explanation of Contra Account: A contra account is used to offset the balance of a related account.…
Q: ?
A: Explanation of Matching Principle: The matching principle is an accounting concept that requires…
Q: Ans
A: Explanation of Tangible Asset: A tangible asset is a physical item that can be touched and seen,…
Q: General Accounting
A: Steps to Calculate the New Share PriceStep 1: Calculate the Value of the Tax ShieldThe tax shield is…
Q: Provide correct calculation for this accounting question
A: To assess the share price of Big Blue Banana (BBB) following the news, we will use the…
Q: Bramble Corp. had the following transactions during 2017: -Sales of $8820 on account. -Collected…
A: Explanation of Sales on Account:Sales on Account, also known as credit sales, refer to revenue…
Q: Financial Accounting
A: Step 1: Define Bond-Yield-Plus-Risk-Premium ApproachThe bond-yield-plus-risk-premium approach is a…
Q: General Accounting question give answer
A: To calculate the increase in earnings per share (EPS) due to a 7% increase in sales, we can use the…
Do fast answer with correct calculation
Step by step
Solved in 2 steps
- Consider a 15 year, fixed rate mortgage for $150,000 at a nominal rate of 8%. The loan comes with a facility to pay end of year installments. What is the duration of the loan? If interest rates increase to 8.25% immediately after the mortgage is made, how much is the loan worth to the lender?Consider a GNMA mortgage pool with principal of $20 million. The maturity is 30 years with a monthly mortgage payment of 10 percent per year. Assume no prepayments. What is the monthly mortgage payment (100 percent amortizing) on the pool of mortgages? If the GNMA insurance fee is 6 basis points and the servicing fee is 44 basis points, what is the yield on the GNMA pass-through and the monthly payments?Consider a GNMA mortgage pool with principal of $50 million. The maturity is 30 years with a monthly mortgage payment of 13 percent per annum. Assume no prepayments. a) What is the monthly mortgage payment (100 percent amortizing) on the pool of mortgages? b)If the GNMA insurance fee is 5 basis points and the servicing fee is 45 basis points, what is the yield on the GNMA pass‑through? c) What is the monthly payment on the GNMA in part (b)? d)Calculate the first monthly servicing fee paid to the originating FIs. e) Calculate the first monthly insurance fee paid to GNMA.
- A borrower has secured a 30 year, $154,00O loan at 7% with monthly payments. Fifteen years later, the borrower has the opportunity to refinance with a fifteen year mortgage at 6%. However, the new loan requiers the borrower to pay 2 points at chopsing. What is the return on investment if the borrower expects to remain in the home for the next fifteen years? Please input your answer as an annual interest rate (i.e. 8.32% would be input as 8.32).Suppose you are buying your first condo for $190,000, and you will make a $10,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at 3.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be? You are not required to show calculations. However to receive credit you must provide the inputs used (N, PMT, FV, I/Y, PV) to solve. If you utilize a template, you can copy and paste the section used in the submission. $808.28 $853.18 $527.78you wish to purchase real property. the lender will give you a 250000 fixed rate 30 year mortgage at 3.5% per annum. suppose that before you can make any payments you receive a pay raise so you can pay an extra 200 per month with your normal payment. how many payments are required to fully amortize the loan assuming the extra 200 is paid each month?
- A borrower is making a choice between a mortgage with monthly payments or biweekly payments. The loan will be $206,000 at 6 percent interest for 20 years. Required: a. hat would be the maturity period if payments are bi-weekly? How much will the borrower pay in total under each payment option? Which choice would be less costly to the borrower? Hint: Assume 26 total bi-weekly payments per year for the maturity period. b. Assume that the bi-weekly loan was available for 5.75%. What would be the maturity period if payments are bi-weekly? How much will the borrower pay in total under each payment option? Which choice would be less costly for the borrower?You are buying a house and will borrow $280,000 on a 30-year fixed rate mortgage with monthly payments to finance the purchase. Your loan officer has offered you a mortgage with an APR of 4.15 percent. Alternatively, she tells you that you can "buy down" the interest rate to 3.8 percent if you pay points up front on the loan. A point on a loan is 1 percent (one percentage point) of the loan value. How many points, at most, would you be willing to pay to buy down the interest rate? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) Maximum pointsSuppose you are buying your first condo for $250,000, and you will make a $7,500 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at 3.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be? You are not required to show calculations but you must list the inputs used such as N, PV, FV, etc. O $1,000.00 O $1,088.93 O $1,122.61
- You buy a house for $328,000, make a $33,000 down payment, and take out at 15-year mortgage at an annual effective interest rate of 5.8% with level monthly payments except for one slightly reduced final payment. a. Will the nominal annual interest rate be more or less than 5.8%? Find it. b. Find the monthly effective rate. c. Find the amount of one of the level payments. d. Find the balance at the end of five years. e. Find the amount of interest paid in the first 5 years.Imagine you get a $450,000 closed floating rate mortgage (no CMHC needed) having a three-year term and amortized over 25 years. Although the interest rate on the mortgage would change, your monthly payments would remain fixed for the term. Monthly payments would be calculated based on APR of %4.8 compounded monthly and amortization period of 25 years. The actual amount of the interest accrued will be deducted from your fixed monthly payments and the rest would be used for principal repayment. Now, assume that the floating rate itself is 4.2% for the first 6 months, then suddenly jumps to 6% for the next 12 months, then drops to 3.6% for the next 6 months, and then declines to 3% for the final 12 months. Note that all rates are quoted as an APR and compounded monthly. Part A: How much money do you owe (i.e. what is the outstanding balance) after 18 months? Part B: How much interest did you pay over the term of the mortgage? How much was principal?Suppose that you take out a 40-year $175000 mortgage with an APR of 6%. You make payments for 3 years and then you consider refinancing the original loan. The new loan would have a term of 15 years, have and APR of 5.7% and be in the amount of the unpaid balance on the original loan. The administrative cost of taking out the second loan would be $1700. What are the monthly payments on the original loan? What would the monthly payment of the second loan be? What would the total amount you would pay if you continued with the original 40-year loan without refinancing? What would the total amount would you pay with the refinancing?