Prime mortgages, subprime mortgages, and Alt-A mortgages are the three main categories of mortgages.
Prime mortgages are loans that are frequently granted to borrowers that have good credit, can fulfil all conditions, and are regarded as high calibre borrowers. As a result, the interest rates they are given are frequently rather low.
Subprime mortgages are loans that are typically provided to borrowers who have bad credit histories or ratings, who fall short of the standards for conventional mortgages, or who are otherwise seen to be low quality borrowers. As a result of the mortgage being the riskiest, the interest rates they are provided are often high.
Alternative A Mortgages, a category of mortgages for borrowers with risk profiles or credit scores in the middle between prime and subprime, is the complete definition of the term "Alt-A mortgage." The holders can fulfil more conditions than subprime mortgage holders, but not as many as prime mortgage holders. While less hazardous than subprime mortgages, this mortgage is riskier than prime mortgages. As a result, the interest rates that were offered were greater than those that prime mortgage holders received but lower than those that subprime mortgage holders were given.
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You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest)
Loan amount: $776,000
Interest Rate: 11.6%
Life: 41 years
Date of Loan: January 1, 2021
Required:
1. What is the annual payment (round to the nearest $)?
2. What are the total interest payments (round to the nearest $)?
3. After 23 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?
4. After 23 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)?
Redo the problem if the interest rate is 1%
Required:
5. What is the annual payment (round to the nearest $)?
6. What are the total interest payments (round to the nearest $)?
7. After 23 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?
8. After 23 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)?
The annual payment on the loan is $108943.
How to calculate the loan?Principal = $776000
Rate = 11.6%
Time = 41 years
The total interest will be:
= PRT/100
= (776000 × 11.6 × 41)/100
= $3690656
The total amount to be paid will be:
= $776000 + $3690656
= $4466656
The annual payment will be:
= Total amount / Number of years
= $4466656 / 41
= $108943
After 23 years, the interest will be:
= 776000 × 11.6 × 23)/100
= $2070368
The percentage of the total interest will be:
= $2070368/$3690656
= 56.1%
When 23 payments have been made, the percentage of the total amount will be:
= (776000 + 2070368) / 4466656
= 2846368/4466656
= 63.72%
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What is the interest expense on December 31?
The interest expense on December 31 of the first year is $5,250.
What is the interest expense on bonds?The interest expense for a bond that has the same coupon rate as the market rate is always the same for all periods of the bond.
This shows that the bond was issued at neither premium nor discount but at par.
Data and Calculations:N (# of periods) = 20
I/Y (Interest per year) = 7.5%
PMT (Periodic Payment) = $5,250 ($140,000 x 7.5% x 1/2)
FV (Future Value) = $140,000
Results:
PV = $140,000.00
Sum of all periodic payments = $105,000 ($5,250 x 20)
Total Interest = $105,000
SchedulePeriod PV PMT Interest FV
1 $140,000 $5,250 $5,250 $140,000
2 $140,000 $5,250 $5,250 $140,000
Thus, the interest expense on December 31 of the first year is $5,250.
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White sayWhite says, “We live in a world where success is defined by income.” Do you agree with this statement? Discuss examples in your life that support or negate this idea.s, “We live in a world where success is defined by income.” Do you agree with this statement? Discuss examples in your life that support or negate this idea.
Answer:
Explanation:
No, I don't agree with this statement as true success is finding eternal peace. if you are earning handsome but you are not happy from the inside so what's the use of money when you aren't happy in your life .
For Example:
You are Earning handsome but you are ill and you can not eat delicious food . so will you be Happy?
Roberto and Kayleigh are neighbors living in Clermont County, Ohio. Roberto builds a fence on what he believes is the boundary of his property yet failed to have the property surveyed first. Kayleigh believes the fence is on her property, and subsequently sues Roberto, asking the court to require him to remove the fence. An earlier Ohio case held that in all boundary disputes, no fence may be built until a property survey occurs or the fence is subject to removal. The judge in Roberto and Kayleigh's case orders that the fence be removed because a survey was not done. In this case, the prior case upon which the judge relies is a.
stare decisis.
b.
precedent.
c.
unethical.
d.
common law.
Option B. The prior case upon which the judge relies is a precedent.
What is a precedent in law?This is the term that is used to refer to the use of a case that has been judged before to settle another issue.
The precedent is set because a similar case was handled in a previous legal situation.
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In Roberto and Kayleigh's case, the judge who orders that the fence be removed because of no survey, relies on b. precedent.
What is a precedent?A precedent is an earlier law or court decision.
A precedent provides some example or guiding rule when deciding a case.
The purposes of relying on precedents are to avoid time wastage and to use the previous case as an authority for subsequent cases involving identical or similar facts or legal issues.
Precedent is an established rule under the doctrine of stare decisis.
Thus, in this case, the prior case upon which the judge relies is b. precedent.
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What distinguishes Six Sigma from traditional continuous improvement?
Continuous process improvement is a universal need. Six Sigma focuses on reducing variance and errors in a production process. That's because processes without consistent dependability eventually lead to errors and defective products.
The fundamental difference between comprehensive quality management and Six Sigma is that TQM offers the highest quality products, while Six Sigma gives better results. Comprehensive quality management refers to the continuous efforts of employees to ensure high-quality products.
Simply put, Six Sigma focuses on customers and final products, and Lean Six Sigma focuses on waste and manufacturing methods. If you are a veteran expert and support quality improvement projects, the Six Sigma Greenbelt is for you.
Six Sigma's methodology helps project managers take their projects to a new level of discipline and commitment. Standard / traditional project management, on the other hand, can be run without an ad hoc implementation. However, with Six Sigma, there is no half-measure that cannot be implemented in stages.
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20 pts
What is the oldest human sport on record?
O A. racing
OB.
archery
O c.
wrestling
O D. weightlifting
Answer:
D. Wrestling
Explanation:
The oldest sport in human history is wrestling.
Source: catawiki
"We know this because of a set of famous cave paintings in Lascaux, France, dating back 15,300 years ago which depict wrestlers. And it wasn't just in France either; paintings with illustrated wresters have been found in caves all over the world, from 7000 BC in Mongolia, from 6000 BC in Libya and in prehistoric caves in Japan."
4. What are the major benefits of business ownership?
1.financial rewards
2.learning opportunities
3.independence
4.lifestyle
Lisa has a credit card with a limit of $3,000. This means that
Lisa has a credit card with a limit means :
Your credit score usage price — the amount of revolving credit you're presently using divided by means of the whole amount of revolving credit score you have to be had — is one of the most critical factors that influence your credit score scores. So it is a terrific idea to try to maintain it beneath 30%, which is what is commonly encouraged.
What is a credit score card?A credit score card is a form of credit score facility, supplied by means banks that permit customers to borrow a budget inside a pre-approved credit restriction. It permits customers to make purchase transactions on goods and offerings.
What does credit card restriction suggest?In very simple terms, the credit restriction or the Credit Card limit is the maximum quantity that someone can spend on his or her credit Card. This restriction is something that the issuing business enterprise fixes.
What occurs when you hit your credit score card restriction?Right here are the most common consequences related to spending over your credit score restriction: Your credit score card may be declined. you may pay an over-limit rate. Your interest fees could move up.
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The average total cost of producing electronic calculators in a factory is $16 at the current output level of 100 units per week. If fixed cost is $530 per week, then what is the firm's variable cost? (enter answer as just a number, no commas, dollar signs, or the like)
The variable cost (related to the production volume) will be 10.7 in total per week (100 units)
100 units x 16 dollar total unit cost = 1600
the total cost is composed of both, variable and fixed costs so we have to subtract the fixed cost to arrive at the variable cost.
total cost = fixed + varible
total - fixed = variable
1600 - 530 = 1070
The variable cost is 1070 in total
while: 1070/ 100 = 10.7 per unit.
Variable costs are costs that change as the quantity changes. Examples of variable costs include raw materials, parts labor, production materials, handling charges, shipping charges, packaging materials, and credit card fees. In some accounting documents, variable costs are called "cost of goods sold."
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Which of the following is an example of government expenditures on goods and services
an example of government expenditure on goods and services is D. The purchase of office supplies for the office of the junior senator from New York.
what is government expenditure?this refers to any amount that the government spends in the economy including those that are spent to maintain government activities.
the government spending money on a senator would therefore fall under government spending to maintain itself.
options for this question include:
A. The amount spent on hotel accommodation when tourists visit Washington D.C.
B. The payment of unemployment benefits
C. The salaries paid to Washington correspondents from major networks and newspapers
D. The purchase of office supplies for the office of the junior senator from New York
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What are the most important facts that support Lambert's Position that a contract existed?
After evaluating the evidence, the court found that there was no valid contract between the parties this is the most important fact that supports Lambert's Position.
Don M. Baron is the owner of DMB. Inc., a construction contractor for the Farmer Building. In 1996 they subcontracted out-of-state developers, and by 1998 DMB. Inc and the developers had argued over all five projects.
Donald G. Lambert is a friend of Baron's, and their friendship began in the 1980s when they worked together under the Louisiana Authorized Contractors Commission. Lambert has experience dealing with arbitration related to construction work.
The problem begins with Baron calling Lambert to discuss contract work and personal issues. In November 1998, Lambert met with Baron to discuss work-related and financial issues.
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Suppose that the required reserve ratio is 10 percent and you withdraw $25,000 from Comerical Bank.
What is the total decrease in deposits in the banking system?
The total decrease in deposits in the banking system is $250,000.
What is total decrease in deposits?Reserve ratio is the percentage of deposits that is required of commercial banks to keep as reserves.
Decrease in deposits = amount withdrawn / required reserve ratio
$25,000 / 0.1 = $250,000
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Does anybody know how to solve this?
The Basic earnings per share is $2.75 per share.
Basic earnings per share
Using this formula
Basic earnings per share=Net income/Weighted-average common shares outstanding
Let plug in the formula
Basic earnings per share=$687,500/250,000 shares
Basic earnings per share=$2.75 per share
Therefore the Basic earnings per share is $2.75 per share.
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The situation analysis section of a business plan for all of a company's products,
product lines, or services may include a SWOT analysis. Which of the following is
one of the elements of a SWOT analysis?
Technology
Options
Warehousing
Threats
Answer:
technology
Explanation:
because they have to be search
The time lag for monetary policy is typically ________________ the time lag for fiscal policy.
Answer:
official policy time lab monitor policy and changes normally to take us certain amount of time have any effect on the economy the time lag could be span anywhere from 9 months up to 2 years sincere policy if x on
How can production in firms, rather than families, contribute to the growth of living standards?
Production in firms, rather than in families allows for a larger scale of operation and allows for a labor market with the possibility of firing those employees who do not expend sufficient effort.
the level of productiveness is the most fundamental and essential element determining the standard of living. raising it allows human beings to get what they need faster or get extra inside the identical quantity of time. supply rises with productivity, which decreases real costs and will increase actual wages.
productiveness will increase have enabled the U.S. enterprise quarter to produce 9 instances more goods and offerings because 1947 with a exceptionally small increase in hours labored. With boom in productivity, an economic system is able to produce—and consume—an increasing number of items and offerings for the identical quantity of work.
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The transfer of the right of recovery from the insured to the insurance company is called:
According to the research, the transfer of the right of recovery from the insured to the insurance company is called Subrogation.
What is subrogation?It consists of changing the debtor or the lender in a financing, which produces a delegation or a succession of duties.
It is linked to subrogating a legal or natural person for another, replacing it, modifying the contract in terms of fulfilling an obligation or exercising an attribution.
Therefore, we can conclude that according to the research, the transfer of the right of recovery from the insured to the insurance company is called Subrogation.
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Write a short memo to Ms Loki explaining the business performance findings of your statement of cash flow.
The memo explaining the business performance findings from the statement of cash flow will entails:
address of the receiversubject of the memobody of the memo.What is a statement of cash flow?This refers to the financial statement that shows how changes in balance sheet accounts and breaks the analysis down to operating, investing and financing activities.
Hence, the memo will inform Ms Loki about business performance findings especially on the cash position of the business such as the inflow and outflow of cash from the firm.
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bottom up approach is not applicable when
Bottom up approach is not applicable systematically to all places in all circumstances.
The bottom-up approach can not be carried out systematically to all locations in all situations.The bottom-up technique is being applied when off-the-shelf or existing additives are decided on and incorporated into the product. An example would encompass choosing a selected fastener, which include a bolt, and designing the receiving components such that the fastener will fit nicely.
When selections are being made at multiple degrees, personnel can be running without checking in with one another. Bottom-up processing is a justification for insights that start with an approaching improvement and operating upwards until an define of the thing is fashioned to us. It refers to processing sensory information as it's miles coming in.
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Normalization
If an employee’s employment is terminated, and they are governed by a collective agreement or the organization policy that provides greater than the employment or labor standards, then:
a the collective agreement or the organization’s policy prevails
b the employment or labor standards prevails
c call the ministry of Labor for a ruling
d none of the above
Answer:
A
Explanation:
the collective agreement prevails since it is a contract job.
if the contract of the job is breached, then call the ministry of labour for a ruling
price is important to managers
Price is important to managers because it has a substantial effect on a company's profitability and sustainability.
Why is pricing important?The importance of pricing is traced to the fact that defines the value or worth of a product and the number of customers that demand the product.
For the consumer of products, price is a key factor that determines purchase decisions.
Thus, price is important to managers because it has a substantial effect on a company's profitability and sustainability.
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Question Completion:Why is price important to managers?
Provide a specific example of how using this skill in your career/industry would make you valuable to a potential employer. Be sure to describe the benefit to the employer, not just the benefit to you - the person who possesses the skill.
Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead.
Overhead Total
Direct
Labor Hours DLH per Product
A B
Painting Dept. $241,700 10,500 8 11
Finishing Dept. 69,700 10,500 5 6
Totals $311,400 21,000 13 17
Using a single plantwide rate, the factory overhead allocated per unit of Product A in the Painting Department is
a.$14.83 per unit
b.$690.57 per unit
c.$118.64 per unit
d.$184.15 per unit
The factory overhead allocated per unit of Product A in the Painting Department is $ .
Given,
Overhead Total direct DLH per product
Labour Hours A B
Painting dept. $241000 10500 8 11
Finishing dept. $69700 10500 5 6
Totals $311400 21000 13 17
Single overhead rate per hour = total overheads/ total labor hours
Now, substituting the values in the formula
Single overhead rate per hour = 311400/21000
= $14.83 per labor hour
Now, direct labor hours for product A for the Painting department = 16 hours
Overhead rate per unit of product A in the painting department = 16 hours × $14.83 per hour
Overhead rate = $237.28 per unit
Thus, Adirondak Marketing Inc. would allocate $237.28 to the painting department for 1 unit of Product A.
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During the regular local soccer league season, the main forward Aadya had the highest field
goal rate in the league. She scored with 51.4% of her shots. Suppose you choose a random
sample of 70 shots made by Aadya during the this season. Let T = the number of shots that
scored points. (10)
a) What is the probability distribution for T? Explain why you believe it to be so. (4)
b) Using the formulas, calculate the: (i) mean and (ii) standard deviation of T. (6)
Using the formulas, the answers are:
a ) Binomial Distribution
b) (1) mean = 35.98 (2) standard deviation = 17.4 9
a) Binomial Distribution because it's an n-times independent replicate of the Bernoulli trial.
b) let p= 51 4% = 0.574
p = 1- 0514 = 0.486
formula : Ex= np
= 70x 0.514
= 35.48
EX = np ( + p )
= 70x 0.514 x 0.486
= 35.48
= 17. 49
The standard deviation is a measure of the amount of variation or dispersion of a set of values.
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How can you minimize your risk while maximizing your potential gains?
Short-term investing
Avoid investing when inflation is high
Choose investments based on the news
Diversifying investments among types
In order to maximize your potential gains while minimizing risk, you should try Diversifying investments among types.
What is the benefit of diversifying investments?When investments are diversified, it reduces the risk of losing your investments when certain classes of assets face a downturn.
You also stand to make better gains because the investments will provide a positive return more often than not.
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Assessing opportunity cost involves
The act of assessing opportunity cost involves making choices and dealing with consequences.
What is an opportunity cost?This refers to the most desirable alternative given up as the result of a decision.
It is also the concept that cost of something that has to be given up to enjoy something better.
Hence, the act of assessing opportunity cost involves making choices and dealing with consequences.
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Answer: A. making choices and dealing with consequences.
Explanation: I just took the quiz on edge 2023.
Describe at least two ways you can tailor your resume to fit a specific employer.
In describing at least two ways you can tailor your resume to fit a specific employer you include a list of your relevant experiences, skills, and accomplishments...
Compare the details of your application to the job posting. This is further explained below.
What is a resume?Generally, A candidate for employment composes a resume, which is a formal document, in order to detail their credentials for a certain post. A cover letter tailored to the position or firm being applied for is often included with a resume. In the cover letter, the candidate draws attention to the information on the CV that is most relevant to the position or company and indicates interest in working there.
What exactly is meant by the term employer?A person, business, or organization that hires workers and compensates them for their efforts is known as an employer. Workers who are compensated monetarily for their efforts are referred to as employees. Employers give employment.
In conclusion, You should include a list of your relevant experiences, abilities, and achievements on your resume, and you should also describe at least two ways that you may modify your resume to match the needs of a particular company.
Examine the particulars of your application in light of the ad for the position.
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5.Michelle is an estate agent. She hears from her friend Jonathan that Sarah wants to sell her house. Michelle promises that if she sells Sarah's house and receives her payment, she would pay Jonathan R2 000. She phones Sarah and speaks to her 2ssistant Thabo. Thabo is an employee of Sarah's and manages all of her properties. Michelle offers her services in selling the house at the best possible price. All she wants for her troubles is R20 000. Who in this specific example is the principal? And justify your answer.
In the question that we have here the person that is the principal is Sarah.
Who is a principal?This is the term that is used to refer to a given person that gets another person to work or represent them. That is the other person would be authorized to carry out the transactions such as buying and the selling of properties on their behalf.
In the question, we can see the justification from the fact that the owner of the house Sarah has given the seller or agent the right to act on her behalf on the transaction.
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Discuss a principle of management in business
The principle of management include planning, organizing, staffing, etc.
What is a management?It should be noted that management means the administration of an organization.
In this case, principle of management include planning, organizing, staffing, etc. Planning has to do with the stores put in place to achieve the goals of the organization.
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What was the opening price of Dow Jones Industrial Average on Oct 12, 2018 in the format of XXXXX.XX?
The opening price of the Dow Jones Industrial Average on Oct 12, 2018 was 25,598.74.
What is the Dow Jones Industrial Average?This is one of things known as stock market indexes that track the stock market prices of 30 large companies.
On Oct 12, 2018, this index had an opening price of 25,598.74 after having suffered a loss of 3.2% in the previous day's trading.
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