Maria, a furniture dealer, is thinking about buying an antique table. She customarily sells furniture for 140% of her cost. What price should Maria pay for the table if she thinks she can resell it for $9,800?
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- Susan is looking for the best deal on a king-size mattress that has a wholesale price of $439. Help her compare the price of the mattress in different situations by completing the following. a) Susan can buy the mattress from a distributor that does direct-to-customer sales. When selling directly to individual customers, this distributor marks up the wholesale price 50%. Ignoring tax, how much would Susan pay for the mattress if she gets it from this distributor? b) Susan can also go to a specialty store that she knows has the mattress. This specialty store gets it from a distributor who marks up the wholesale price 20%. Then the specialty store marks it up by an additional 30%. Ignoring tax, how much would Susan pay for the mattress at this specialty store? c) Select the true statement. Susan would pay less for the mattress if she gets it directly from the distributor. Susan would pay less for the mattress if she gets it at the specialty store. Susan would pay the same amount if she…Clyde has the chance to buy a piece of old Pennsylvania Dutch pottery that he thinks he can resell for $500. If Clyde needs a 125% markup on cost, what price should he pay?Angela is buying her first home. She has saved $60, 000 for a downpayment, intending to make a down payment of at least 20% of the purchase price. Angela wants to make an offer on a home which is slightly over her budget at $325,000. As she does not have any additional funds available to increase her downpayment, she needs to consider a high ratio mortgage. Her lender explains that she will need to pay mortgage default insurance premiums, and that the premiums can be paid in cash or financed over the first mortgage term. He provides the following premium rate schedule: Loan - to - Value Ratio Mortgage Default Insurance Premium (As a percentage of mortgage loan) Up to 80% 2.40% Up to 85% 2.80% Up to 90% 3.10% Up to 95% 4.00% Angela is pre- approved for a mortgage with a 25-year amortization period and an equivalent annual interest rate of 6.39% for a five-year term. Payments will be due at the end of each month. If Angela finances the mortgage default insurance premiums over her first…
- Dekentra sells boxes of note cards imprinted with her sketches of bird life along the South Carolina coast. If it costs $625 to produce 75 box of cards and she wants to earn a profit of at least $2,000, what should she charge per box?Subject: Account. Craig, a used car dealer is thinking about buying a 4 year old car. He customarily sells the cars for 125% of his cost. What price should Craig pay for the car if he thinks he can resell it for $12,500?Tori is planning to buy a car. The maximum payment she can make is $3400 per year, and she can get a car loan at her credit union for 7.3% interest. Assume her payments will be made at the end of each year 1–4. If Tori’s old car can be traded in for $3325, which is her down payment, what is the most expensive car she can purchase?
- Amanda Forsythe of Springfield, Missouri, must decide whether to buy or lease a car she has selected. She has negotiated a purchase price (gross capitalized cost) of $30,000 and could borrow the money to buy from her credit union by putting $2,500 down and paying $645.84 per month for 48 months at 6 percent APR. Alternatively, she could lease the car for 48 months at $370 per month by paying a $2,500 capitalized cost reduction and a $350 disposition fee on the car, which is projected to have a residual value of $12,200 at the end of the lease. Round your answers to the nearest cent. Finance charges (borrowing the car): $ The dollar cost of leasing: $For some reason I can not get my numbers right for this. Can you please explain step by step for the solution. Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $265,000. The rest of the question is below.Michiko and Saul are planning to attend the same university next year. The university estimates tuition, books, fees, and living costs to be 12,000 per year. Michikos father has agreed to give her the 12,000 she needs to attend the university. Saul has obtained a job at the university that will pay him 14,000 per year. After discussing their respective arrangements, Michiko figures that Saul will be better off than she will. What, if anything, is wrong with Michikos thinking?
- Tom and Kyra Courtney are considering buying a house and are researching the potential costs. Their adjusted gross income is $144,000. The monthly mortgage payment for the house they want would be $1,450. The annual property taxes would be $9,400, and the homeowner’s insurance premium would cost them $876 per year. What is the front end ratio and will they be able to qualify?Walter is a used car dealer. He has the chance to buy a used car that he thinks he can resell for $6,400. If Walter needs a 30% markup on selling price, what price can he pay? View keyboard shortcutsAmanda Forsythe of Springfield, Missouri, must decide whether to buy or lease a car she has selected. She has negotiated a purchase price (gross capitalized cost) of $38,000 and could borrow the money to buy from her credit union by putting $3,300 down and paying $814.93 per month for 48 months at 6 percent APR. Alternatively, she could lease the car for 48 months at $535 per month by paying a $3,300 capitalized cost reduction and a $350 disposition fee on the car, which is projected to have a residual value of $11,800 at the end of the lease. Use the Run the Numbers worksheet to advise Amanda about whether she should finance or lease the car. Round your answers to the nearest cent.
