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John would like to purchase a $180,000 home and is planning on making an $18,000 down payment for a 6.50 percent, 30-year, fixed-rate mortgage.
a) What is the required monthly principal and interest payment on this mortgage?
b) An appraisal has estimated the market value of this property to be $190,000. What is John's loan-to-value ratio? Will a lender likely require him to obtain PMI? Explain.
c) John's income is $65,000 per year. He also has the following monthly expenses:
Hazard insurance $80 Property taxes $170 PMI (if needed) $105 Auto payment $350 Credit cards $250 Monthly utilities $375 Student loan $400
Calculate John's front-end and back-end ratios. Given these figures, will John meet the traditional income guidelines for a conventional mortgage? Explain.
A firm is considering the purchase of equipment which will cost $3 million. This equipment will last for 10 years, at the end of which it can be sold for $800,000. The CCA rate for this asset class is 30%, and the firm expects to have other assets in..
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows:
Determine the current value of your total investment.Do not make any changes to your investment at this time. Calculate your total based on the number of shares and the new price per share, for each company.
What should be the value of the company's common stock? Present your answer to two decimal places (e.g., $20.00).
summer tyme inc. is considering a new three?year expansion project that requires an initial fixed asset investment of
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Identify the formal structure of an organization. Using an organization of your choice (Coka-Cola) as an example
Please explain where does the purchase of equipment show up on a profit and loss statement?
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A company has projected sales of $542,000, costs of $389,300, depreciation of $82,400, and a tax rate of 31%. What is the operating cash flow?
You have just purchased a new warehouse. To finance the purchase, you have arranged for a 30 year mortgage for 80% of the $ 4,500,000 purchase price.
CASE STUDY - Managing Growth at SportStuff. What is the cost SportStuff incurs if all warehouses leased are in St. Louis\
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