A property-casualty insurer brings in $6.15 Million in premiums onto its homeowners MP line of insurance. The line's losses amount at $4,212,750, expenses are $1,506,750, and dividends are $92,250. The insurer earns $153,750 in the investment of its premiums. Calculate the line's operating ratio.
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- For life insurance policies, some of the premium pays for the cost of the insurance, and the remainder goes toward the cash value of the policy and earns interest like a savings account. Consider the following insurance company options. Company 1: pays 4.2% compounded monthly on the cash value of their policies Company 2: pays 4.21% compounded semiannually on the cash value of their policies What is the APY offered by each company? (Round your answers to the nearest hundredth.) Company 1 % Company 2 %What is the actual debt service coverage ratio on these financial accounting question?Gil Corporation has current assets of $90,000 and current liabilities of $180,000. Required: Compute the effect of each of the following independent transactions on Gil's current ratio: 1. Refinancing a $30,000 long-term mortgage with a short-term note. 2. Purchasing $50,000 of merchandise inventory with short-term accounts payable. 3. Paying $20,000 of short-term accounts payable. 4. Collecting $10,000 of short-term accounts receivable.
- Calculate the housing expense ratio and the total obligation ratio (in %) for the following mortgage applications. (Round your answers t Monthly Gross Income Monthly PITI Other Monthly Financial Obligations Housing Expense Ratio (%) Total Obligations Ratio (%) Applicant Expense Emerson $2,900 $777 $290 %A borrower with a 645 credit score is buying a $449,481 home with 95% LTV financing. The percent annual premium from the private mortgage insurance (PMI) company is 1.43% for a 30% coverage policy. The borrower's monthly premium payment is? Note: the question is asking for the monthly premium only, not the loan payment + premium. (Input your answer rounded to the nearest whole penny and without the $ sign, e.g., 1000.01)Falcon Corporation has current assets of $400,000 and current liabilities of $275,000. Compute the effect of each of the following transactions on Falcon's current ratio: Refinanced a $60,000 long-term mortgage with a short-term note. Purchased $108,000 of merchandise inventory with short-term accounts payable. Paid $50,000 of short-term accounts payable. Collected $90,000 of short-term accounts receivable. please include details to support your response. Thank you.
- Lucerne earns a gross income of $5,215 per month and applies for a mortgage with a monthly PITI of $1,147. Lucerne has other financial obligations totaling $834 per month. If the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would Lucerne qualify for? Mortgage Type Housing Expense Ratio Total Obligations Ratio FHA FHA only Conventional Conventional only FHA and Conventional None of the above x 29% 28% 41% 36%Suppose you obtain a 25- year mortgage loan of 191,000$ at an annual interest rate of 7.9%. The annual property tax bill is $974 and the annual fire insurance premium is 488$. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)A mortgage applicant who has a monthly gross income of $4,705.00 applies for a mortgage with monthly PITI of $1,411.50. The applicant's other financial obligations total $282.30 per month. If the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would the applicant qualify for? Mortgage Type Housing Expense Ratio Total Obligations Ratio FHA 29% 41% Conventional 28% 36% O FHA only O Conventional only O FHA and Conventional O None of the above
- A company plans to make our annual deposits vi p4,900 Caio a special building runu. Te funds assets will be invested in mortgage instruments expected to pay interest at 12% on the fund's balance. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Required: Determine how much will be accumulated in the fund after four years under each of the following situations: 1. The $4,500 annual deposit are made at the end of each of the four years and interest is compounded annually. 2. The $4,500 annual deposit are made at the beginning of each of the four years and interest is compounded annually. 3. The $4,500 annual deposit are made at the beginning of each of the four years and interest is compounded quarterly. 4. The $4,500 annual deposit are made at the beginning of each of the four years interest is compounded annually, and interest earned is withdrawn at the end of each year. $ Complete this question by entering your…Coney Island enters into a lease agreement for a new ride. The lease payments have a present value of $2 million. Prior to this agreement, the company’s total assets are $25 million and its total liabilities are $15 million.Required: 1. Calculate total stockholders’ equity prior to the lease agreement. 2. Prior to the lease being signed, calculate the debt to equity ratio. 3. Immediately after the lease being signed, calculate the debt to equity ratio. 4. Does the direction of the change in the debt to equity ratio typically indicate that the company has higher leverage risk?Suppose you obtain a 30 year mortgage loan of 197,000$ at an annual interest rate of 8.1%. The annual property tax bill is $967 and the annual fire insurance premium is 495$. Find the total monthly payment for the mortgage, property tax, and fire insurance.
