FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find the total interest for a mortgage of $112,500 at 6% for 30 years. O $130,500.00 $125,876.54 O $243,000.00 $241,393.60 Question 26 2 pts Lisa

image text in transcribed
image text in transcribed
Find the total interest for a mortgage of $112,500 at 6% for 30 years. O $130,500.00 $125,876.54 O $243,000.00 $241,393.60 Question 26 2 pts Lisa bought a home with an adjustable-rate mortgage. The margin on the loan is 4.2% and the rate cap is 5.75% over the life of the loan. If the current index rate is 6.6%, what is the calculated interest rate of the ARM? 6.75% 9.5% 10.8% 12.5%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Worship Audit Making Good Worship Better

Worship Audit Making Good Worship Better

Authors: Mark Earcy

1st Edition

ISBN: 1851742948, 978-1851742943

More Books

Students also viewed these Accounting questions

Question

★★★★★
A student rolls a die until the first "4" appears. Let X be the numbers of rolls required until (and including) this first "4." After this is completed, he begins rolling again until he gets a "3."...

Answered: 1 week ago

Question

★★★★★
PRINTER VERSION BACK Question 3 Your answer is partially correct. Try again. During the current month, Standard Corporation completed Job 310 and Job 312. Job 310 cost $68,500 and Job 312 cost...

Answered: 1 week ago

Question

★★★★★
a. What is the probability that grain size exceeds 100?

Answered: 1 week ago

Question

★★★★★
Dorothy Stanyard has three major routes to take to work. She can take Tennessee Street the entire way, she can take several back streets to work, or she can use the expressway. The traffic patterns...

Answered: 1 week ago

Question

★★★★★
Find the total interest for a mortgage of $112,500 at 6% for 30 years. O $130,500.00 $125,876.54 O $243,000.00 $241,393.60 Question 26 2 pts Lisa bought a home with an adjustable-rate mortgage. The...

Answered: 1 week ago

Question

★★★★★
4 (1 point) Saved Partner Z contributes property with a $100,000 value and a basis of $60,000. Three months later, the partnership distributes $60,000 to Partner Z. The $60,000 can't be characterized...

Answered: 1 week ago

Question

★★★★★
Question: What does the final keyword indicate when applied to a class in Java? A) The class can be inherited but cannot be subclassed. B) The class cannot be subclassed. C) The class can only be...

Answered: 1 week ago

Question

★★★★★
Question: What happens when a method in a Java class is marked as final? A) The method cannot be called from outside the class. B) The method cannot be inherited by subclasses. C) The method cannot...

Answered: 1 week ago

Question

★★★★★
Question: What is the outcome if a class in Java is marked as abstract? A) The class cannot have any methods implemented. B) The class cannot be instantiated directly. C) The class can only contain...

Answered: 1 week ago

Question

★★★★★
Question: What is the purpose of the super keyword in Java? A) It is used to call a method from the parent class that has been overridden in the subclass. B) It is used to create an instance of the...

Answered: 1 week ago

Question

★★★★★
Question: What happens when a method in a Java class is declared final? A) The method cannot throw exceptions. B) The method cannot be overridden by subclasses. C) The method cannot access instance...

Answered: 1 week ago

Question

★★★★★
5. What are the mitigating factors in this case? Should the arbitrator consider these mitigating factors in reviewing the penalty assessed by the Company? On March 27, 1998, the Company, the Union,...

Answered: 1 week ago

Question

★★★★★
1. What is a last chance agreement? On March 27, 1998, the Company, the Union, and Mr. Danny Webb, the Grievant, entered into and signed the following Agreement: Without precedent, the Company, the...

Answered: 1 week ago

Question

★★★★★
2. Does a last chance agreement limit the arbitrators authority? If so, how? If not, why not? On March 27, 1998, the Company, the Union, and Mr. Danny Webb, the Grievant, entered into and signed the...

Answered: 1 week ago

Previous QuestionNext Question