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A person was considering buying a house priced at $220,000. A mortgage company claimed the interest rate for the 20-year loan is 3.125%. The company also estimated that the points and Appraisal, Credit Report, Processing, Document Preparation, Administration, Underwriting, Flood Certificate, Tax Service, Wire Transfer, and other fees would be $12,000 in total. a) What would be the monthly payment, if the person decided to borrow 80% of the cost of the house and 100% of the processing fees? b) What is the APR of the loan? c) If the person accepts the terms of the loan on Feb. 28, 2010, the first monthly payment is due on March 31. How much mortgage would be paid off after the payment on January 31, 2016? d) How much interest charge could this person claim for deduction in the 2015 Tax Return, i.e. the total interest occur during year 2015?
Consider a project to produce solar water heaters. It requires a $10 million investment and offers a level after-tax cash flow of $1.59 million per year for 10 years. The opportunity cost of capital is 9.75%, which reflects the project’s business ris..
Juliet’s Children’s Clothes Company (JCCC) has a target profit of $100,000. That profit requires unit sales to be 2,000. JCCC’s variable cost per unit is $100 and fixed expenses are $50,000. If JCCC achieves that target profit, what is the margin of ..
The land is presently worth $500,000 and is expected to remain at $500,000 while the store is being built. Calculate the net investment for the proposed Tampa store.
Following is financial information relative to two companies in the same industry. Alpha Omega Sales $10,000,000 $10,000,000 Variable Cost 5,000,000 2,000,000 Contribution Margin 5,000,000 8,000,000 Fixed Costs 3,000,000 6,000,000 Operating Income $2..
wall street journal assignment on international financeuse a recent issue of the wsj and go to the currencies table to
Which of the following is NOT true regarding common stock?
Under what circumstances would it be advisable to borrow money to take a cash discount? RESEARCH and find companies that offer cash discounts. What type of discount do they offer?
For the Tax Year 2015, George has the following expenses that he wants to include as itemized deductions for the year. His adjusted gross income is $72,000. Using information provided Form 1040 Schedule A, what is the total itemized deduction he can ..
Define, compare, and contrast the four basic types of competition. Then, pick an industry (other than those used in exhibit 3.6) and describe the different types using firms and products in that industry.
The Fix-it Shop has zero coupon bonds outstanding that mature in three years. The bonds have a face value of $1,000 and a current market price of $860. What is the company’s pre-tax cost of debt?
Decatur Arts Center writes 158 checks a day for an average amount of $211 each. These checks generally clear the bank 3.5 days after they are written. In addition, the firm generally receives an average of $50,000 a day in checks. The checks that are..
q1gunawardena ltd. has a building that it initially bought for 100000. as of december 31 2012 there is 10000 of
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