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

Question

1 Approved Answer

The Nicholas's are buying a house selling for $245,000. They pay a down payment of $45,000 from the sale of their current home. To obtain

The Nicholas's are buying a house selling for $245,000. They pay a down payment of $45,000 from the sale of their current home. To obtain a 15 year mortgage at 4.5% interest, they must pay 1.5 points at the time of closing. what is the amount of the mortgage, and what is the cost of the 1.5 points?

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

Fundamentals Of Futures And Options Market

Fundamentals Of Futures And Options Market

Authors: John C. Hull

6th Edition

0132242265, 9780132242264

More Books

Students also viewed these Finance questions

Question

★★★★★
Determine Vs in the circuit in Figure P8.59 1:3 i2 Vo-1245v Ideal Figure P8.59

Answered: 1 week ago

Question

★★★★★
5. [-/5 Points] DETAILS Find the linearization L(x) of the function at a. f(x) = 2cos(x), a =_ (Consider 7=3.14159265359 ) 4 L ( x ) Submit Answer View Drovious Question Question 5 of 8

Answered: 1 week ago

Question

★★★★★
Purchasing a used car is one of the least desirable experiences for most people. eBay Motors offers fraud protection, a warranty, and a title history (www.ebaymotors.com). What is the value...

Answered: 1 week ago

Question

★★★★★
The following information was taken from Egeland Ltd.s adjusted trial balance as at July 31, 2016: Sales revenue....................... $2,788,800 Interest expense....................... 44,000 Cost...

Answered: 1 week ago

Question

★★★★★
The Nicholas's are buying a house selling for $245,000. They pay a down payment of $45,000 from the sale of their current home. To obtain a 15 year mortgage at 4.5% interest, they must pay 1.5 points...

Answered: 1 week ago

Question

★★★★★
3 ) Glocker Company makes three products in a single facility. These products have the following unit product costs: Products A B C Direct materials $ 1 0 . 9 0 $ 1 5 . 8 0 $ 8 . 0 0 Direct labour 1...

Answered: 1 week ago

Question

★★★★★
2. Olympic 100m Reaction Times Data from 1996 Atlanta City Olympic Games 100m mens event. Reaction: Reaction time off the starting blocks in seconds Total: Time to run the a. Make a scatterplot of...

Answered: 1 week ago

Question

★★★★★
The accounting team at Corp plans to get a jump-start on its budget for the second quarter, since the first quarter is going well. Team members want to make sure to determine the cash effects of the...

Answered: 1 week ago

Question

★★★★★
Pit Co. purchased 90% ownership interest of Soe Co. in 2030 at underlying book value. On that date, the fair value of non- controlling interest was equal to 10% of the book value of Soe, Co. Pit Co....

Answered: 1 week ago

Question

★★★★★
9 5 points The following data was collected in 2004. The individuals are the 50 states of America. The scatterplot on the left compares the average income per capita (in $) vs. teen birth rate...

Answered: 1 week ago

Question

★★★★★
ANSWER THIS Prolem 6) Five hours of labor are allowed per unit of a product at the rate of P30 per hour. Budgeted production volume for June is 16,000 units. Total regular working hours for June is...

Answered: 1 week ago

Previous Question Next Question