Scott & Rebecca can afford to pay $3,500.00 each month for a mortgage. Their credit union is offering home loans at 4.625%. If they take out a 30- year mortgage how much can they afford to borrow? $ Heidi & Peter can only afford $1,750.00 per month for a mortgage. Their credit union is also offering home loans at 4.625%. If they take out a 30- year mortgage how much can they afford to borrow? $ Looking back, what effect did cutting the payment in half have? O Doubled the principal Increased the principal by more than half Reduced the principal by exactly half Reduced the principal by more than half

Q: The components of the conceptual framework ?

A:

Q: What is meant by Remainderman?

A: The remainderman is a beneficiary that receives the principal left in an estate or trust after a…

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: What is internalization?

A: Internalization: It happens when an individual directs an exchange itself, as opposed to sending it…

Q: What is MM Proposition I?

A: Modigliani and Miller’s approach is an element of economic theory and it forms the basis for modern…

Q: What are asserts

A: What are assets?

Q: purpose of FA

A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…

Q: What’s the AMT, and what is its purpose?

A: The main purpose of AMT is to set a limitation on the tax payers who may be making use of the excess…

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A: Materiality: The accounting concept which focusses that all the financial items and figures which…

Q: what does COGS means

A: Income statement: It implies to a financial statement that shows all the expenses incurred in a…

Q: What is the dual aspect term

A: solution concept Dual aspect                 Each and every transaction shall be recorded by giving…

Q: How is materiality concept applied?

A: Accounting principles:

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

Q: what about quesitons E and F?

A: Work in progress (WIP) also called work in process, is inventory that has begun the manufacturing…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.