The overall width of the house is 37 feet, and the overall length is 53 feet. If this house is appraised at $462,612, what is its value per square foot? Answer to the nearest dollar.
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- a homeowner is selling their home. How much transfer fee is charged at the rate of $1.10 per thousand if the sales price is $770,500 and the net proceeds are $550,000?Calculate how much money a prospective homeowner would need for closing costs on a house that costs $190,000. Calculate based on a 15 percent down payment, 1.3 discount points on the loan, a 1.2 point origination fee, and $820 in other fees. The closing costs would be $. (Round to the nearest dollar.)Find the annual homeowners insurance premium on a masonry home located in zone 1 if the home is insured for $237,000. The owner chooses a $1,500 deductible and has good credit. E Click the icon to see a hypothetical table of Estimated Annual Homeowners Insurance Premium Rates per $100 of Face Value. The annual homeowners insurance premium is $ (Simplify your answer. Type an integer or a decimal.)
- You are considering buying an old warehouse that you will convert into anoffice building for rental. Assuming that you will own the property for 10 years, how much would you be willing to pay for the old house now given the following financial data?(i) Remodeling cost at period 0 = $550,000;(ii) Annual rental income = $800,000;(iii)Annual upkeep costs (including taxes)= $80,000;(iiii) Estimated net property value (after taxes) at the end of 10 years =$2,225,000;(iiiii)The time value of your money (interest rate)= 8% per year.(a) $4,445,770(b) $5,033,400(c) $5,311,865(d) $5,812,665Which of the following sets of Excel entries will correctly solve this problem: Jim paid $138,000 for an old house to renovate. He spent an average of $3,216 per quarter over the next two years as he readied the renovated house for sale. He wants to set the price of the house high enough so that he will earn an annual rate of return of 12% for his investment. Given that information, what price should Jim set on the house?Robin Williams has just purchased some equipment for his business. For this equipment he must pay the following amounts at the end of each of the next 5 yrs: $10,900, $7,790, $9,760, $12,190, & $11,070 If the appropriate discount rate is 7.265%, what is the cost in todays dollars of the equipment Mr. Williams purchased today? (Do not round factos values. Round final answer 2 decimal places) Present value $_____
- You purchase a $1,152,000 lake house and made a down-payment of $658,000. If you were to use the tvm solver to determine the monthy payment, what values would you enter for PV and FV?You are given the task to evaluate the value of a rental property. You identified similar properties and calculated average cap rate is 15%. You estimated the property's Net operating Income to be $570,000. What is the maximum price you would pay for the property? Group of answer choices $3.5 million $655,000 $3.8 million $5.7 millionIn 2007, the median cost of a new home was $235,500 (source. https//www census gov/const/uspric emon.pdf). If the CPI in 2007 was 100, and the CPI in 2017 was 137.27, what would the cost of a new home in 2007 be in 2017 dollars? Do not include a dollar sign in your answer. Round your answer to two (2) decimal places if necessary
- Which of the following sets of Excel entries will correctly solve this problem: Jim paid $100,000 for an old house to renovate. He spent an average of $2,407 per quarter over the next two years as he readied the renovated house for sale. He wants to set the price of the house high enough so that he will earn an annual rate of return of 10% for his investment. Given that information, what price should Jim set on the house? Group of answer choices A ) NPER=8 RATE=2.5000% PV=($100,000) PMT=($2,407) solve for FV B) NPER=8 RATE=2.5000% PV=($100,000) PMT=$2,407 solve for FV C) NPER=2 RATE=10.0000% PV=($100,000) PMT=($9,628) solve for FV D) NPER=24 RATE=0.8333% PV=($100,000) PMT=($2,407) solve for FVYou have entered into an agreement for the purchase of land. The agreement specifies that you will take ownership of the land immediately. You have agreed to pay $50,000 today and another $50,000 in three years. Calculate the total cost of the land today, assuming a discount rate of (a) 5%, (b) 7 %, or (c) 9%. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Payment Amount $ 50,000 50,000 50,000 Interest Rate 7 5% 7% 9% Answer is complete but not entirely correct. Compounding Annually Annually Annually Period Due 3 years 3 years 3 years $ Total Cost of Land Today 93,121.25 X 90,816.30✔ 88,617.30You are trying to evaluate the feasibility of purchasing a quarter-acre plot (approximately 11,000 square feet) of agricultural land that has proper drainage and access to paved roads. You plan to rent the plot of land to receive after-tax receipts of US$2,500 per month. You are hoping to sell the land in the next ten years to receive after-tax proceeds of US$2.0 million to purchase a building containing at least four (two-bedroom) apartments. Assume the funds for purchasing the apartment will be drawn from your savings account which is currently earning 2% after taxes and that inflation rate is currently 5%. 1.Showing all calculations state if you should purchase the land for $1.6 million, justify your decision. What is the maximum price you should pay to acquire the single dwelling unit?