Contemporary Mathematics for Business and Consumers
7th Edition
ISBN: 9781285189758
Author: Robert Brechner, George Bergeman
Publisher: Cengage Learning
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Textbook Question
Chapter 14.II, Problem 15RE
Use Exhibit 14-4, Lending Ratio Guidelines, on page 468 to answer the following questions:
a. Which of the applicants in Exercises 8-14 would not qualify for a conventional mortgage?
b. Which of the applicants in Exercises 8-14 would not qualify for any mortgage?
The mortgage business uses widely accepted guidelines for these ratios that should not be exceeded. The ratio guidelines are shown in Exhibit 14-4.
| Mortgage Type | Housing Expense Ratio | Total Obligations Ratio |
| FHAConventional |
|
|
The mortgage business uses widely accepted guidelines for these ratios that should not be exceeded. The ratio guidelines are shown in Exhibit 14-4.
| Applicant | MonthlyGrossIncome | Monthly PITI Expense | Other Monthly Financial Obligations | Housing Expense Ratio (%) | Total Obligations Ratio (%) | |
| 8. | Parker | $2,000 | $455 | $380 | 22.75 | 41.75 |
| 9. | Forman | $3,700 | $530 | $360 | ||
| 10. | Martin | $3,100 | $705 | $720 | ||
| 11. | Tajsich | $5,200 | $1,300 | $510 | ||
| 12. | Emerson | $2,900 | $644 | $290 | ||
| 13. | Jameson | $4,250 | $1,150 | $475 | ||
| 14. | Renquest | $6,725 | $1,648 | $580 |
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3) Let R be a set of real number and d:R2 R R such that
d((x, y), (z, w)) = √(x-2)² + (y-w)² show that d is a metric on R².H.W
Use a graph of f to estimate lim f(x) or to show that the limit does not exist. Evaluate f(x) near x = a to support your conjecture. Complete parts (a) and (b).
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(Round to the nearest tenth as needed.)
B. The limit does not exist.
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A. No, it does not. The function f(x) approaches a different value in the table of values than in the graph, after the approached values are rounded to the…
x²-19x+90
Let f(x) =
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Complete parts (a) through (c) below.
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B. There are no values of a for which the limit equals a finite number.
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(Type integers or simplified fractions)
C. There are no values of a that satisfy lim f(x) = ∞.
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Chapter 14 Solutions
Contemporary Mathematics for Business and Consumers
Ch. 14.I - What is the monthly payment and total interest on...Ch. 14.I - Prob. 2TIECh. 14.I - Prob. 3TIECh. 14.I - Prob. 4TIECh. 14.I - Prob. 5TIECh. 14.I - Using Table 14-1 as needed, calculate the required...Ch. 14.I - Prob. 2RECh. 14.I - Using Table 14-1 as needed, calculate the required...Ch. 14.I - Prob. 4RECh. 14.I - Prob. 5RE
Ch. 14.I - Prob. 6RECh. 14.I - Using Table 14-1 as needed, calculate the required...Ch. 14.I - Prob. 8RECh. 14.I - As one of the loan officers for Grove Gate Bank,...Ch. 14.I - As one of the loan officers for Grove Gate Bank,...Ch. 14.I - As one of the loan officers for Grove Gate Bank,...Ch. 14.I - As one of the loan officers for Grove Gate Bank,...Ch. 14.I - As one of the loan officers for Grove Gate Bank,...Ch. 14.I - As one of the loan officers for Grove Gate Bank,...Ch. 14.I - Ben and Mal Scott plan to buy a home for $272,900....Ch. 14.I - 16. Michael Sanchez purchased a condominium for...Ch. 14.I - 17. Luis Schambach is shopping for a 15-year...Ch. 14.I - 18. Phil Pittman is interested in a fixed-rate...Ch. 14.I - 19. Larry and Cindy Lynden purchased a townhome in...Ch. 14.I - Heather Gott bought a home with an adjustable-rate...Ch. 14.I - Joe and Gloria Moutran art purchasing a house in...Ch. 14.I - 22. You are a real estate broker for Aurora...Ch. 14.II - Justin Schaefer owns a home that was recently...Ch. 14.II - Roman Bass cams a gross income of $3,100 per...Ch. 14.II - For the following second mortgage applications,...Ch. 14.II - For the following second mortgage applications,...Ch. 14.II - For the following second mortgage applications,...Ch. 14.II - For the following second mortgage applications,...Ch. 14.II - For the following second mortgage applications,...Ch. 14.II - For the following second mortgage applications,...Ch. 14.II - For the following second mortgage applications,...Ch. 14.II - Calculate the housing expense ratio and the total...Ch. 14.II - Calculate the housing expense ratio and the total...Ch. 14.II - Prob. 10RECh. 14.II - Prob. 11RECh. 14.II - Prob. 12RECh. 14.II - Prob. 13RECh. 14.II - Prob. 14RECh. 14.II - Use Exhibit 14-4, Lending Ratio Guidelines, on...Ch. 14.II - 16. Ronald and Samantha Brady recently had their...Ch. 14.II - Prob. 17RECh. 14.II - Ransford and Alda Mariano own a home recently...Ch. 14.II - Prob. 19RECh. 14.II - Jamie and Alice Newmark have a combined monthly...Ch. 14.II - Prob. 21RECh. 14.II - According to moncy.CNN.com. with mortguge rates...Ch. 14 - 1. Land, including permanent improvements on that...Ch. 14 - A(n) ___________ is a loan in which real property...Ch. 14 - Mortgage ___________ points are an extra charge...Ch. 14 - Prob. 4CRCh. 14 - 5. A(n) ___________ account is a bank account used...Ch. 14 - Prob. 6CRCh. 14 - Prob. 7CRCh. 14 - Prob. 8CRCh. 14 - Prob. 9CRCh. 14 - Prob. 10CRCh. 14 - A home equity ___________ is a lump-sum second...Ch. 14 - Prob. 12CRCh. 14 - Prob. 13CRCh. 14 - Prob. 14CRCh. 14 - Prob. 1ATCh. 14 - Prob. 2ATCh. 14 - Suzanne Arthurs purchased a home with a $146,100...Ch. 14 - Prob. 4ATCh. 14 - Prob. 5ATCh. 14 - Prob. 6ATCh. 14 - Prob. 7ATCh. 14 - Prob. 8ATCh. 14 - Prob. 9ATCh. 14 - Prob. 10ATCh. 14 - Prob. 11ATCh. 14 - 12. Dale Evans bought the Lazy D Ranch with an...Ch. 14 - 13. Diversified Investments purchased a 24-unit...Ch. 14 - Larry Mager purchased a ski lodge in Telluride for...Ch. 14 - 15. A Denny’s Restaurant franchisee is looking for...Ch. 14 - Prob. 16ATCh. 14 - Adam Marsh is purchasing a $134,000 condominium...Ch. 14 - Prob. 18ATCh. 14 - Prob. 19ATCh. 14 - Prob. 20ATCh. 14 - 21. Phil Armstrong earns a gross income of $5,355...Ch. 14 - 22. Magda Leon is applying for a home mortgage...
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