How is the loan rate figured on a home mortgage loan? What are the key factors or
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (12 reviews)
A home mortgage loan rate is usually based on the market rate ...View the full answer
Answered By
Wonder Dzidzormenu
As a professional accountant and a teacher, I explain account ing concepts in a more practical way that makes students more connected to the subject.
With over 10 years of teaching accounting , I offer a well constructed , easily understood and in-depth explanations to students questions.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Bank Management and Financial Services
ISBN: 978-0078034671
9th edition
Authors: Peter Rose, Sylvia Hudgins
Question Posted:
Students also viewed these Banking questions
-
Katrina wishes to take over her father's restaurant "Fatty Wong" after her father's retirement. Her father is a self-taught Master Chef and opened the original Fatty Wong Cantonese restaurant at a...
-
What are "points" paid on a home mortgage and when are they deductible?
-
The total interest u paid on a home mortgage of P dollars at interest rate r (in decimal form) for t years is Consider a $120,000 home mortgage at 7 1/2%. (a) Use a graphing utility to graph the...
-
In SSL and TLS, why is there a separate Change Cipher Spec Protocol rather than including a change_cipher_spec message in the Handshake Protocol?
-
Find the third Taylor polynomial P3(x) for the function f (x) = (x 1) ln x about x0 = 1. a. Use P3(0.5) to approximate f (0.5). Find an upper bound for error |f (0.5) P3(0.5)| using the error...
-
A spherical, stainless steel (AISI 302) canister is used to store reacting chemicals that provide for a uniform heat flux q i to its inner surface. The canister is suddenly submerged in a liquid bath...
-
Consider a deterministic cash flow stream \(\left(x_{0}, x_{1}, x_{2}, \ldots, x_{n} ight)\) with all positive flows. Let \(\mathrm{PV}(r)\) denote the present value of this stream at an interest...
-
Widgets are produced by a constant-cost industry. The following chart shows the industry-wide demand curve and the marginal cost curve of each firm. There are currently 600 firms in the industry....
-
What is the present value of the following future amount? $311,205 to be received 15 years from now, discounted back to the present at 5 percent, compounded annually.
-
At the beginning of its operations in July 2024, Wheaton Pet Shop Ltd. began with 9,500 units of inventory that it purchased at a cost of $15.00 each. The companys purchases during July were as...
-
If you quote a consumer loan customer an APR of 16 percent on a $10,000 loan with a term of four years that requires monthly installment payments, what finance charge must this customer pay?
-
Why do interest rates on consumer loans typically average higher than on most other kinds of loans?
-
Royal Dutch Shellthe Anglo-Dutch oil company issues a dollar-denominated seven-year zero-coupon Eurobond in the amount of US$1 billion at an annual yield of 6. 5 percent. a. Where would the funds...
-
Determine the appropriate business tax of each of the following transactions/business. V if 12% vat, PT if percentage tax and E if exempt from business tax. 1. Hog dealers 2. Gasoline stations 3....
-
Block 1, of mass m1 = 2.90 kg , moves along a frictionless air track with speed v1 = 17.0 m/s . It collides with block 2, of mass m2 = 51.0 kg , which was initially at rest. The blocks stick together...
-
Calculate the magnitude of the force in the back muscles needed to support the upper back plus the box (m upper body = 65 kg , m box = 20 kg) 2. calculate the magnitude of the force Fv exerted by the...
-
Matching Type 1. If a duly authorized agent acts in accordance with the orders of the principal, the latter cannot set up the _______ of the agent as to circumstance whereof he himself was, or ought...
-
QUESTION 16 Some people who bought X-Game gaming systems complained about having received defective systems. The industry standard for such gaming systems has been 98% non-defective systems. In a...
-
Recycles are also used for the following purposes. Identify four examples of each. a. Heat removal b. Flowrate control c. Improvement of separation d. Reduction of utility requirements
-
In the circuit shown in Figure 4, a battery supplies a constant voltage of 40 V, the inductance is 2 H, the resistance is 10, and l(0) = 0. (a) Find l(t). (b) Find the current after 0.1s.
-
What is hardware?
-
The following information was gathered for the XYZ economy: velocity of money = 3.8 times; average price level = $85; and real output = 10,000 units. a. What is the nominal GDP for the XYZ economy?...
-
The One Product economy which produces and sells only personal computers (PCs), expects that it can sell 500 more or 12,500 PCs next year. Nominal GDP was $20,000,000 this year and the money supply...
-
The following problem requires a basic knowledge about probabilities and the calculation of expected values. In addition, the problem is more easily solved using Excel spreadsheet software. a....
-
Find all the complex numbers z such that z += 0. Is the set open or closed? {zC: z*+i=0}
-
For each of the following matrices A Maxn (R), test A for diagonal- izability, and if A is diagonalizable, find an invertible matrix Q and a diagonal matrix D such that Q-1AQ = D. (a) (63) 2 1 3 (b)...
-
A summary of two stocks is shown. 52W high 52W low Name of Stock Symbol High Low Close 37.18 29.39 Zycodec ZYO 11.76 7.89 Unix Co UNX 39.06 32.73 34.95 16.12 12.11 15.78 Last year, a stockholder...
Study smarter with the SolutionInn App