An FHA-insured loan in the amount of $157,500 at 5.5% for 30 years closed on July 17. The first monthly payment is due on September 1. Using a 360-day year and assuming that interest is being paid for the day of closing, what was the amount of the interest adjustment the buyer had to make at the settlement?

Answers

Answer 1

Answer:

the amount of the interest adjustment is $336.875

Explanation:

The computation of the amount of the interest adjustment is as follows;

= Principal × rate of interest × number of days ÷ total number of days

= $157,500 × 5.5% × 14 days ÷ 360 days

= $336.875

Hence, the amount of the interest adjustment is $336.875

Therefore the given formula is applied


Related Questions

What should be the minimum amount of years you allow your retirement
investments to grow?
a. 10 years
b. 20 years
c. 30 years
d. 40 years

Answers

Answer:

a. 10 years

Explanation:

Investing for retirement is a long-term project. The earlier a person starts to invest, the better for them as they will enjoy the benefits of compounding.

Ideally, saving for retirement should start the moment one gets employed. This gives them ample time to save and accumulate money for use in retirement. There is no upper limit as to how many years one should save for retirement. However, one needs to save for at least ten years to have sufficient funds for retirement.

____________________ is a step in the incident management process where an incident that cannot be responded to by an incident screener is put in a queue of another support staff member.

Answers

Answer:

Incident assignment

Explanation:

Incident Management can be regarded as as a process use in IT Service Management (ITSM). It is a process that helps in stabilizing organization's services performance whenever there there is a defection or abnormal activities. One of the step in incident Management is Incident assignment, whereby an incident that cannot be attended to by a staff is aligned on the queue for another staff to respond to.

It should be noted that Incident assignment is a step in the incident management process where an incident that cannot be responded to by an incident screener is put in a queue of another support staff member.

How would you address mental challenges and age-related issues with exercising?

Answers

Answer:

Explanation:

Having someone to exercise with you makes it more enjoyable. ... Make exercise a priority and set time aside during the day. ... Identify activities that they enjoy. ... Start slowly and advance the exercise program gradually. ... Set realistic expectations. ... Be supportive.

In one ancient civilization, hunters shared fresh meat with other individuals in a group without an explicit timeframe or agreement about who would do what in return. However, the favor would surely be returned by those in the tribe who could cook, take care of children, and provide
shelter. What type of economy does this MOST closely describe?
A. Socialist economy
B. gift economy
С. market economy
D. planned economy

Answers

Answer:

B. Gift economy

Explanation:

Correct Answer: gift economy

Arabian Beauty Cosmetics borrowed BD 152.300 from the National Bank of Bahrain (NBB) for three years. If the quoted rate (APR) is 11.75%, and the compounding is daily, what is the Effective Annual Rate?​

Answers

Answer: 12.47%

Explanation:

First convert the APR to the relevant periodic rate.

The compounding is done daily so the periodic rate is:

= 11.75%/365

Effective Annual rate is calculated by the formula:

= ( 1 + periodic rate)  ^ compounding period per year - 1

= ( 1 + 11.75%/365)³⁶⁵ - 1

= 12.47%

Lawn Master Company, a manufacturer of riding lawn mowers, has a projected income for the coming year as follows: Sales $ 36,000,000 Operating expenses: Variable expenses $ 19,800,000 Fixed expenses 8,100,000 Total expenses 27,900,000 Operating profit $ 8,100,000 Required: 1. Determine the breakeven point in sales dollars. 2. Determine the required sales in dollars to earn a before-tax profit of $9,135,000. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 3. What is the breakeven point in sales dollars if the variable expenses increases by 9%

Answers

Answer:

Lawn Master Company

1. Break-even point in sales dollars:

= $18,000,000

2. Required sales in dollars to earn a before-tax profit of $9,135,000:

= $38,300,000

3. The break-even point in sales dollars if the variable expenses increases by 9%:

= $20,224,719

Explanation:

a) Data and Calculations:

Sales                            $ 36,000,000

Operating expenses:

Variable expenses       $ 19,800,000

Contribution margin     $16,200,000

Fixed expenses                 8,100,000

Total expenses               27,900,000

Operating profit             $ 8,100,000

Contribution margin ratio = $16,200,000/$36,000,000 * 100 = 45%

Break-even point in sales dollars = Fixed cost/Contribution margin

= $8,100,000/0.45 = $18,000,000

Break-even point in sales dollars to earn a before-tax profit of $9,135,000

= (Fixed cost + target profit)/Contribution margin ratio

= ($8,100,000 + $9,135,000)/0.45

= $17,235,000/0.45

= $38,300,000

Break-even point in sales dollars if the variable expenses increase by 9%

Increased variable expenses = $21,582,000 ($ 19,800,000 * 1.09)

Contribution margin will reduce to $14,418,000 ($36,000,000 - $21,582,000)

Contribution margin ratio = $14,418,000/$36,000,000 * 100 = 0.4005

Therefore, break-even point in sales dollars = Fixed cost/0.4005

= $8,100,000/0.4005

= $20,224,719

Give three examples of possible age-based conflicts in the workplace

Answers

Answer:
• Interdependence/Task-Based Conflicts
• Leadership Conflicts
• Work Style Conflicts

Hopes this helps!!

The Jones Corporation uses a process system. During the current period, 2,500 units were started and 1,100 units were completed and transferred out. Ending units were 60% complete for materials and 45% complete for conversion costs. Direct materials costs added were $35,405 and conversion costs added were $32,870. There was no beginning WIP Inventory and conversion costs are added evenly throughout the process. At the end of the period, the cost per equivalent unit for conversion costs would be closest to

Answers

Answer:

The Jones Corporation

At the end of the period, the cost per equivalent unit for conversion costs would be closest to:

$19

Explanation:

a) Data and Calculations:

Units started during the current period = 2,500

Units completed and transferred out =      1,100

Ending inventory of units =                         1,400

Degree of completion for ending inventory:

Materials = 60%

Conversion = 45%

Equivalent production:

                                                 Direct materials              Conversion

Started and completed                  1,100                           1,100  (100%)

Ending inventory                              840  (1,400 * 60%)    630 (1,400 *45%)

Total equivalent unit                      1,940                          1,730

Cost per equivalent unit:

                                   Direct materials     Conversion

Cost incurred                $35,405                 $32,870

Total equivalent unit         1,940                      1,730

Cost per equivalent unit $18.25                    $19

What do you have to do to learn and be a pilot

.1 learn to play radio

2. Learn to fly

3 learn to fly and land and set off


SO EASY

Answers

Answer:

All of the above (That is to regulations)

Explanation:

Although if you had to choose one it would be 3. learn to fly, land and set off.,

Two major variables in choosing the structure and design of an organization are the opportunities and need for ________.

Answers

Answer:

globalization and localization.

Explanation:

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.

The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.

Also, localization (local responsiveness) refers to the degree of requirements and conditions to which a manufacturing firm should significantly adjust their products and methods of production in a particular country to. Thus, a firm that is facing both strong cost pressures and strong pressures for localization should ensure that it adopts a global standardization strategy.

Hence, two major variables in choosing the structure and design of an organization are the opportunities and need for globalization and localization because the opportunities that abound in the market would determine the level of revenues (cash-inflows) that the organization can generate.

Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.

Answers

Answer:

The answer is:

[tex]Total \ liabilities = \$2,395\\\\Net \ worth = \$15,855 \\\\Total\ cash \ outflows = \$1,950[/tex]

Explanation:

Please find the complete question in the attached file.

[tex]\text{Total assets} = (450 + 1,890 + 7,800 + 2,350 + 1,500 + 3,400 + 860)= \$18,250 \\\\\text{Total liabilities} = (\$235 + \$2,160)= \$2,395 \\\\\text{Net worth} = (\$18,250 - \$2,395)= \$15,855 \\\\\text{Total cash inflows} = \$1,950 \\\\\text{Total cash outflows} = (650+345+230+180+110+65+80+90+70+130) = \$1,950\\\\[/tex]

In the nation of Foxystan, a $500 decrease in consumer spending typically causes GDP to fall by $5000. The spending multiplier in Foxystan is equal to:

Answers

Answer:

Foxystan

The spending multiplier in Foxystan is equal to:

10 times.

Explanation:

a) Data and Calculations:

Decrease in consumer spending = $500

Decrease in GDP = $5,000

Spending multiplier in Foxystan is equal $5,000 : $500 = 10 times

The spending multiplier describes the ratio of change in consumer spending relative to the change in the GDP.  In Foxystan, the ratio of the change is 10 times.  This means that while consumer spending decreased by $500, it caused a 10 times decrease in the GDP.

Brent has to complete a final group project and his group members aren't
doing their share of the work. Brent generally believes in being kind to others,
but at the last group meeting, he was so frustrated that he yelled at the group
and threatened to stop working on the project. Which value system is mainly
in question here?
A.ethics
B.law
C.business law
M.morality

Answers

Answer: M. Morality

Explanation:

Morality is the value system is mainly in question here. Hence, option D is correct.

What is Morality?

Moral and just standards define what constitutes unacceptable behavior in society and what constitutes right and acceptable behavior.

A civilisation uses moral standards to decide what is reasonable, right, or acceptable. The majority of nations agree that murder is evil, while some grant an exemption for murder committed when waging a war to defend the nation or when acting in self-defense.

According to Louis Pojman, morality has five objectives: "keep society from disintegrating," "lessen human suffering," "promote human flourishing," "resolve conflicts of interest in just and orderly ways," and "give praise and blame, reward the good, and punish the guilty".

Thus, option D is correct.

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A decrease in consumer spending can be expected to shift the aggregate demand curve ________.

a. upward and cause output to rise
b. upward and cause output to decline
c. downward and cause output to rise
d. downward and cause output to decrease
e supply of the Canadian dollar in the foreign exchange market rises.

Answers

Answer:

d. downward and cause output to decrease

Explanation:

As we know that

Aggregate demand = Consumption expenditure + government expenditure + net export

Where,

Net export = Export - import

In the case when there is a reduction in the consumer spending so it would be expected that the aggregate demand curve would be shifted to the downward due to which it results in reduction in output

Therefore the option d is correct

ou've just taken on a new client, a small business owner, who was managing their books with spreadsheets. What's the recommended first step to begin working with this client in QuickBooks Online?

Answers

The options available are:

A. Ask them to sign up for QuickBooks Online on QuickBooks.com

B. To Create a QuickBooks Online for them and manually email them their Intuit ID and password

C. Add new client in QuickBooks Online Accountant

D. Add new client in QuickBooks Online

Answer:

Add new client in QuickBooks Online Accountant

Explanation:

In this situation, as the new client, the recommended first step to begin working with this client in QuickBooks Online is to add the client in QuickBooks Online Accountant.

This will assists you in getting their information and at the same time have direct access to the client's account and easily work on the client's bookkeeping.

Hence, in this case, the correct answer is "Add new client in QuickBooks Online Accountant."

What is a political argument for regional economic integration? Multiple Choice It reduces the potential for violent conflict. It creates opportunities for entrepreneurism. It tends to increase national sovereignty. It stimulates economic growth. It increases trade diversion.

Answers

Answer:

The political argument for regional economic integration is that:

It reduces the potential for violent conflict.

Explanation:

Regional economic integration is a well-known tool for reducing violent conflict between nations within a geographic region.  Other benefits include the creation of economic opportunities for entrepreneurs with expanded markets.  It thereby stimulates economic growth within the region.  It does not increase national sovereignty but increases trade diversion from productive exporters to less capable nations.

Suppose Americans working in the textile industry decide to boycott goods made in the European Union. Explain how this boycott will affect each of the following: The supply of dollars The international value of the dollar

Answers

Answer: See explanation

Explanation:

The supply of dollars: The boycott by the Americans would result in the reduction in the supply of dollars on the international market. This is due to the fact that there will be less dollar going to the European Union.

The international value of the dollar: There'll be a depreciation in the value of the dollar. A reduction in demand would lead to decline in it's value.

each unit requires 1.8 yd of fabric to be produced. at the end of each quarter, 20% of the next quarter's production needs for material should be at hand. budgeted purchases of material for the second quarter would be g

Answers

Answer:

1.8 yards

Explanation:

Production requirement  1.8 yards

Ending inventory = 20% of 1.8 yards= 20/100 * 1.8= 0.36 yards

Materials Required= 1.8-0.36= 1.44 yards

If the material on hand is 0.36 yards i.e 20 % of the production requirement.Budgeted purchases for the second quarter would 1.8 yards  because when 0.36 yards is available as the ending inventory. But materials on hand  must have a balance of 0.36 yards for the next quarter so it would not effect the purchases.

To maintain the balance of materials on hand the amount of purchases made is 1.8 yards as 0.36 yards will be kept for the third quarter and 0.36 is already present for the second quarter

1.44 yards for production + 0.36 yards for the ending inventory= 1.8 yards

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Which descriptions best characterize the young Dr. Jekyll? Check all that apply.


-He was rich.

-He was in excellent shape.

-He was family oriented.

-He was famous.

-He was destined for a good future.


Don't mind the question btw.


My other account got deleted, Feel free to add me!!

Answers

Answer:

The descriptions that best characterize the young Dr. Jekyll include the following:

1.  -He was famous.

2.  -He was rich.

3.  -He was in excellent shape.

Explanation:

He was an eccentric Dr who was researching on the possibility of discovering a drug that will help mankind. During his research, he noticed that, when ever he take a particular drug, it alters his personality and body which would bring out the darkest thoughts in him.

The more he took the drug, the more him slips into darkness and destruction which always makes him sober after transforming back to his normal personality.

Answer:

1, 2, 5

Explanation:

He was rich.

He was in excellent shape.

He was destined for a good future

What can accurately predict whether you will be a successful entrepreneur?

Answers

Answer:

your attitude

Explanation:

if the united states imposes an import quota on imported soybeans, how much will the united states produce domestically

Answers

Answer:

If the United States imposes an import quota, domestic production will rise, from what was produced at the world price (because the world price is the price the equilibrium price in the absence of tariffs), to the level of production determined by the domestic price.

Explanation:

This increase in production will only benefit domestic producers though, because they will now sell a higher quantity at a higher price, raising their incomes substantially.

Consumers, however, will be worse off, because before the tariff, they could buy the same amount of soybeans at the lower world price, but with the tariff, they are obliged to purchase the soybeans at the higher domestic price, lowering their available income for other goods and services.

This is economics question

Answers

Answer:

I think "A & B are correct."

Explanation:

Risk*

Farah and David decide to form a sports memorabilia retail partnership. They have known each other since business graduate school and have always worked well together on various projects. The business is doing well but cash flow is very tight. Farah takes several calls from vendors asking for payment. He believed David had been paying the bills. When he asks about this, David admits to embezzling from the partnership. What liability does Farah face as a result of the theft

Answers

Answer:

Farah faces a general partnership as a result of theft

Explanation:

General Partnership is simply a free association of two or more persons to carry on business for profit gains.

Partnership agreement is simply an agreement by two or more persons to do business together as a partnership in an oral or written form.

Based on the provided information, Farah faces a general partnership as a result of theft.

According to the question, we were to discuss about Farah and David who decide to form a sports memorabilia retail partnership and the liability that Farah faced.

As a result of this, we can see that she faced general partnership as a result of theft, general Partnership which is a free association of two or more party to share gain from a business,

Therefore, since David admits to embezzling from the partnership then it is a theft from partnership.

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Warner Company purchases $50,100 of raw materials on account, and it incurs $62,800 of factory labor costs. Supporting records show that (a) the Assembly Department used $33,500 of the raw materials and $44,400 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments.

Answers

Answer:

[Debit] Work In Process : Assembly Department $47,064

[Debit] Work In Process : Finishing Department $19,504

[Credit] Overheads $66,568

Explanation:

Note that overheads are assigned to departments on the basis of 160% of labor costs. Thus, our first point of call is to determine the labor cost for the respective departments. After that we then apply the 160 % to arrive at the Overheads assigned to that department

Step 1

Determine Departmental Labor Cost

Total Labor Costs         =   $62,800

Assembly Department = ( $44,400)

Finishing Department  =    $18,400

Step 2

Determine Overhead Cost for the Departments

Assembly Department ( $44,400 × 160 %) = $47,064

Finishing Department  ( $18,400 × 160 %)  = $19,504

Step 3

Journalize

Debit the Work In Process Account for the respective department and Credit the Overheads Account as above.

1. Values in a chart must be:
Select the correct option.
O a. Numbers
O b. Words
O c. Months
O d. Columns

Answers

Answer:

a. Numbers

Explanation:

The values in a chart represent data. Anyone reading a chart should be able to interpret the information presented with relative ease. Due to the space factors, the values of a chart are always in numbers.  Values in number form take little space compared to words.

Numbers are clear and easy to understand for everyone. When a value is very big, writing it in words may pose a challenge for some people to understand.

Opportunity cost occurs because of a producer’s need to

limit resources.
protect resources.
allocate resources.
spend resources.
Mark this and return

Answers

Answer:

allocate resources.

Explanation:

Scarcity of resources makes producers make choices on how to use the few available resources. Like other people, producers will want to do many things but are restricted by a lack of resources. Time and money are examples of scarce resources. They have to allocate the available resources among different needs and wants.

Opportunity cost is measured by calculating the value of the next best alternative.

Answer:

C On Edge Jan 2021

Explanation:

When the purchasing company bears the liquidation expenses it will debit the expenses to:_______

a. Vendor Company’s Account
b. Bank Account
c. Goodwill Account
d. Debtors Account

Answers

Answer:

c. Goodwill Account

Explanation:

In the case when the company is in liquidation and the purchasing company paid the liquidation expense as it is beared by them so here the expenses would be debited to the goodwill account

Therefore as per the given situation, the option c is correct as the liquidation expenses should be debited to the goodwill

So the rest of the options are wrong

Does the Statute of Frauds, a legal principle from the 1600s, still make sense in today's commercial world

Answers

Answer:

Yes.  The Statute of Frauds still makes sense in today's commercial world.

Explanation:

The statute of frauds as a legal concept requires that certain contracts must be put in writing, especially contracts involving the sale of land, goods worth more than $500, and contracts lasting more than one year.  The statute acts as a defense to a breach of contract claim. In most states, a statute of frauds does not make a contract void but makes certain contracts voidable. This means that the contract remains valid and enforceable until one of the parties chooses to void the contract.

The United States is an example of a __________ economy?
a)traditional
b)command
c)market
d)private

Answers

Answer:

C. Market

Explanation:

I majored in Health

The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.52 per share on its stock. The dividends are expected to grow at a constant rate of 7 percent per year indefinitely.

Required:

a. If investors require a 11 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price?
b. What will the price be in 8 years?

Answers

Answer:

A. $40.66

B. $69.86

Explanation:

A. Calculation for what is the current price

Using this formula

Current price=Dividend per share(1+Expected constant rate)/ (Require return percentage-Expected constant rate)

Let plug in the formula

Current price=1.52(1+.07) / (.11-.07)

Current price=1.52(1.07) / (.11-.07)

Current price=1.6264/0.04

Current price=$40.66

Therefore the Current price will be $40.66

b. Calculation for What will the price be in 8 years

Using this formula

Price=Dividend per share(1+Expected constant rate)^Numbes of years/ (Require return percentage-Expected constant rate)

Price=1.52(1+.07)^9/ (.11-.07)

Price=1.52(1.07)^9/ (.11-.07)

Price=2.7945/0.04

Price=$69.86

Therefore What will the price be in 8 years is $69.86

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