Please correct answer and don't use hand raiting A seller needs to pay an estimated $2,000 in closing costs, $150,000 on his current mortgage,and wants $58,000 in cash for a down payment on another house. His listing agreementobligates him to pay 6% commission to the brokerage. What is the minimum selling price hecan accept?A. $197,400B. $218,400c. $222,600D. $225,807

To solve this question, we need to calculate the minimum selling price to cover all the seller's…

Answered: A seller needs to pay an estimated…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 15P

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A house is selling for $150,000 a deposit of $20,000 was made when sales contract was signed. The down payment is 30% and the balance will be financed with a 25 year mortgage at 4.25% and four discount points. If the sellers are responsible for the brokers commission of 6% of purchase price, $$1300 in other closing cost, and existing mortgage with balance of $40,000 what proceeds will the seller receive? $108,700 $99,700 $101,000 $69,450
Fill in the blanks: Problem: Arlene bought Malong worth P56,000 with 5%, 3% trade discounts from Supplier from Mindanao on May 29, 2020. The Supplier gave Arlene a term of n/45 and the Supplier will shoulder the shipping costs and the payment to the shipper. 1. How much is the trade discount? 2. When is the due date to pay the account? 3. What is the term of shipment? Choose if: FOB Shipping Point - Freight Prepaid, FOB Shipping Point - Freight Collect, FOB Destination - Freight Prepaid, FOB Destination - Freight Collect INSTRUCTIONS: 1. DO NOT ABBREVIATE THE MONTH OF YOUR ANSWER. IF YOUR ANSWER IS SEPTEMBER, ENCODE IT AS SEPTEMBER. 2. DO NOT USE COMMA AND PESO SIGN. IF YOUR ANSWER IS P1,000.50, ENCODE IT AS 1000,50 3. USE TWO DECIMAL PLACES FOR YOUR ANSWER. IE YOUR ANSWER IS P22,785, ENCODESAS 22785.00 Continue >
A buyer has agreed to purchase a home for $50,500. The buyer will assume a first mortgage in the amount of $32.200, will deposit $2.200 as earnest money, will deposit $5,600 in cash at cosing, and wl give the sellet a purchase- money mortgage for the balance. What is the amount of the purchase-money mortgage? a)$24,400 b)$18,300 c)$16,100 d)$10,500
Adam Marsh is purchasing a $134,000 condominium apartment. If the sellers are responsible for the 6% broker's commission, $900 in closing costs, and the existing first mortgage with a balance of $45,000, what proceeds will be received on the sale of the property? Sale price = Less: Closing costs = Broker fees = First mortgage = Seller's proceeds =
Please answer this correctly. Thank you!
A house is selling for $150,000. A deposit of $20,000 was made when the sales contract was signed. The down payment is 30% and the balance will be financed with a 25 year mortgage at 4.25% and 4 discount points. If the sellers are responsible for the broker’s commission (6% of the purchase price); $1700 in other closing costs; and the existing mortgage with a balance of $30,000; what proceeds will they receive on the sale of the property?
a purchaser makes a 20% down payment on a new home and obtains a loan for the balance. The lender charges two discount points which equals 1000. what was the sale price of the house? I would like a break down on how to obtain the answer
A buyer wants to purchase a home for $150,000 with a 30% down payment. The lender charges 1.75 points. How much money does the buyer need up front to make the purchase?
7) A businessman wants to buy a truck. The dealer offers to sell the truck for either $120,000 now, or six yearly payments of $25,000. Which of the following is closest to the interest rate being offered by the dealer? A) 5.8% B) 6.8% C) 7.8% D) 9.8%
Suppose that the seller of a home has accepted your offer of $175,900 to purchase the home.Suppose you are going to make a down payment of $11,000 and take out a 30-year mortgagewith a fixed APR of 3.236% to cover the rest of the cost. (a) Calculate the total of your monthly payments (in dollars) over the 30 years. (b) If closing costs consist of 3 points and a fixed cost of $1562, how much will you pay inclosing costs in total?
am. 113.
A house is selling for $180,000 and the seller owes $140,000. The borrower is short $40,000 for the down payment, but the seller is willing to carry back $20,000 of the $40,000 equity as a second mortgage as long as the buyer agrees to pay $20,000 cash. This type of financing by the seller is called subprime financing. b.junior financing. c.high-cost financing. d.senior financing.

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