on the sale of a house, broker Audrey Kirch earns 7% of the first $50,000 and 3% of any amount exceeding $50,000, What was the selling price of a house if her total commission was $4,475?

Q: Kari is purchasing a home for $260,000. The down payment is 25% and the balance will be financed…

A: Closing cost = Remaining down payment + closing expenses + discount points

Q: A Seller accepts her offer on her home for 60,000. At the time of the offer, a 2,000 earnest money…

A: Check: Check is used for payments related to purchasing assets, paying expenses, and liabilities.…

Q: Jen Logan bought a home in lowa for $110,000. She put down 20% and obtained a mortgage for 30 years…

A: Equated monthly installment (EMI):= [P×R×(1+R)n] ÷ [(1+R)n-1]Where,P = Principal = ($110,000-20%) =…

Q: Gerardo Norega bought a dinette set for $900, which he paid in 12 monthly payments of $81.90. (a)…

A: Formula used:

Q: Joe Levi bought a home in Arlington, Texas, for $147,000. He put down 25% and obtained a mortgage…

A: The monthly payment amount can be calculated with the help of present value of annuity function

Q: Sammy purchased 800 shares of Winn-Dixie at $4.40 per share. Sammy financed 35% of the purchase with…

A: Concept. Annual return is the return that an investment provides during investment tenure. It is…

Q: Kari is purchasing a home for $260,000. The down payment is 25% and the balance will be financed…

A: Home cost = $260,000 Maturity = 15 years Interest rate = 8% Deposited amount = $20,00 Expenses:…

Q: A couple buys a $200000 home, making a down payment of 19%. The couple finances the purchase with a…

A: Solution:- Given, A Couple buys a $200,000 home, making a down payment of 19% The couple finances…

Q: On March 1, 2012, Jason's Deli loaned $12,000 to Mark Johnson for one year at 5 percent interest.…

A: Introduction: Interest refers to the amount charged by the lender on the lent amount. The borrower…

Q: The Tomlinsons decided to sell their home for $355,000. They are charged a real estate commission of…

A: To find out the amount the Tomlinsons receive after fees, we need to subtract the total fees from…

Q: Vanessa purchased a car using a 5-year car lease at 6.30% compounded quarterly that required her to…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Jen Logan bought a home in Iowa for $110,000. She put down 20% and obtained a mortgage for 30 years…

A: Here, Particulars Values Price of a house   $ 110,000.00 Down payment (20%*$110,000)  $…

Q: While buying a new car, Austin made a down payment of $1,000.00 and agreed to make month-end…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: A couple buys a $190,000home, making a down payment of 16%. The couple finances the purchase with a…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Kari is purchasing a home for $260,000. The down payment is 25% and the balance will be financed…

A: Purchase price of home = $260,000 Down payment = 25%*$260,000 = $65,000 Loan amount = Price of home…

Q: Ephrem bought a home in Des Moines, lowa, for $335,000. He put down 15% and obtained a mortgage for…

A: The time value of money is related to the change in the worth of the money with time. It says that…

Q: Marcel Thiessen purchased a home for $205,600 and obtained a 15-year, fixed-rate mortgage at 7%…

A: Interest part is the amount of interest payable on outstanding loan balance and principal repayment…

Q: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed…

A: Particulars Amount Down payment amount (220,000*25%) $           55,000 Add :   Financed…

Q: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed…

A: The costs expended for legal services rendered by a licensed lawyer or law firm are referred to as…

Q: Kaitlyn purchased a 91-day T-Bill that has a face value of $1460 anc an interest rate of 4.12% p.a.…

A: The selling price refers to an amount that is used for selling goods or rendering services by the…

Q: Lydia purchased a $100,000 150-day T-bill when the prevailing yield on T-bills was 4.5%. She sold…

A: T-Bill: A Treasury Bill (T-Bill) is a short-term obligation of the United States government backed…

Q: Tamara works for FunCorp. She makes $65,000 per year in salary. How much does she pay in FICA taxes…

A: The question states that Tamara makes $65,000 per year in salary. We need to determine how much she…

Q: Sally purchased a home in Georgia for $167,500. She took out a mortgage for 80% of the purchase…

A: Prepaid Expenses are those expenses that are paid in advance and which is recorded in the balance…

Q: You own a house that you rent for $1,100 per month. The maintenance expenses on the house average…

A: Variables in the question:Cost of house=$219,000Recent appraised value of the house=$241,000Real…

Q: Rob borrowed $5,800 from Richard and signed a contract agreeing to pay it back 10 months later with…

A: In this we have to calculate the interest on both contracts and than get the final price.

Q: In October, a store offers the public a "Buy Now Pay Later" sales plan. With this plan, Mrs.…

A: Interest rate (r) = 55% per annum = 4.5833% per month Number of installments (n) = 12 Monthly…

Q: A jewelry store in Lanberry bought a gold ring for $550 and marked it up 50% from the original cost.…

A: Original Cost: The original cost refers to the initial price at which an item, in this case, the…

Q: John Lee bought a home in Des Moines, lowa, for $65,000. He put down 15% and obtained a mortgage for…

A: