FREE Trial
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!

Pierre and Franca have a high ratio mortgage and will require mortgage default insurance. They purchased a home for $525,000, and have adequate money for closing costs. The down payment was 50,000. Using the rates below calculate the cost

Transcribed Image Text:

Pierre and Franca have a high ratio mortgage and will require "mortgage default insurance". They purchased a home for $525,000, and have adequate money for closing costs. The down payment was 50,000. Using the rates below calculate the cost of the mortgage default insurance premium. Down Payment Amount 5- 9.99 percent 10 - 14.99 percent 15-19.99 percent Premium Rate 4% 3.10% 2.80

  • Expert Answer

Given Down payment amount 50000 Total home price 525000 The View the full answer


answer-question
Related Book For  answer-question
South-Western Federal Taxation 2020 Comprehensive

South-Western Federal Taxation 2020 Comprehensive

ISBN: 9780357109144

43rd Edition

Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

See More Books
Post a Question and Get Help

Cannot find your solution?

Post a FREE question now and get an answer within minutes*.

*Average response time.
Posted Date: June 01, 2023 02:38:15
See More Questions

Students also viewed these finance questions

Q:
A multiple regression of y on a constant x1 and x2 produces the following results: y = 4 + 0.4x1 + 0.9x2. R2 = 8/60, e' e = 520, n = 29, Test the hypothesis that the two slopes sum to 1. [29 0 X'X...
A:
The estimated covariance matrix for the least squares esti......
Q:
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
A:
Answer 12 AA bonds coupon rate sometimes abbreviated simply to coupon isnt affected by its price BHowever the coupon rate influences the bonds price by influencing the bonds competitiveness and value......
Q:
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
A:
AND Risk neutral probability p 1050911509 06 1p 04......
Q:
If two companies in the same industry use different methods to value inventory, this makes comparisons more difficult but not impossible. a. True b. False 2. An increase in a company's revenue and...
A:
1 True For example FIFO values can be obtained using LIFO......
Q:
Desrosiers Ltd. had the following long-term receivable account balances at December 31, 2013: Notes receivable........ $1,800,000 Notes receivable-Employees... 400,000 Transactions during 2014 and...
A:
a 1 Cash inflows from notes 2014 2015 2016 2017 2018 9 Note receivable Principal 600000 600000 600000 Interest 162000 108000 54000 8 Note receivable Principal 400000 Interest 32000 32000 32000 Noninte......
Q:
The ends of a cylindrical rod 6.4 mm (0.25 in.) in diameter and 250 mm (10 in.) long are mounted between rigid supports. The rod is stress free at room temperature [20C (68F)]; and upon cooling to...
A:
This is really a materials selection problem in which we must decide for which......
Q:
It is not the case that both Lindsey Vonn or Kevin Durant plays professional tennis and Tom Brady or Matt Ryan plays professional basketball. Translate the following statements into symbolic form...
A:
Click to View...
Q:
( Goodwill , Impairment) On July 31, 2010, Mexico Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division of Mexico. Conchita reported the...
A:
a Goodwill Excess of the cost of the division over the fair value of the identifi......
Q:
The total cost of a one-year membership at a gym is f^(141). This is made up of a single E^(57) sign-up fee and equal-sized monthly payments for the whole year. How much is each monthly payment? Give...
A:
To find the monthly payment for the gym membership you need to......
Q:
Using transactions listed in P2-1 for Smith Insurance Inc. indicate the effects of each transaction on the liquidity metric Cash and profitability metric Net Income Cash Basis. Data From P2-1 Roger...
A:
Transaction a Issued stock b Issued note pay c Earned fees d Paid rent expense e Pa......
Q:
Consider a commercial transport aircraft with the following properties. W initial . . .. . . . . . . . . . . . 400,000 kg W fuel . . . . . . . . . . . . . . . . .175,000 kg 0 . . . . . . . . . . . ....
A:
The range of an air craft is given by following formula R QRg 0 L......
Q:
Peru Furniture City, Inc., sold $88,000 of furniture in May to customers who used their American Express Credit Cards. Such sales are subject to a 5% discount by American Express (a nonbank credit...
A:
Journal Entry It is a record of the business transactions in the accounting books of a bu......
Q:
Below are the elevations of the building. Assume the floor to ceiling height is 3 m that includes an infinitely thin floor slab. Show all calculations. Because of the building code requirements, this...
A:
To determine where the minimum grade needs to be located for this building to be 3 stories in height......
Q:
Mr. Alwys Right opened "The Right Cleaners" on March 1, 2020. It mainly attracts businesses in Suva CBD, which are closed during weekends and on public holidays. Cleaning services are provided from...
A:
i Journalize the March transactions Mar 1 Cash 15000 A Right Capital 15000 A Right invested cash in the business Mar 1 Loan 6000 Cash 6000 To record the loan received Mar 1 Equipment 8000 Cash 8000 Pu......
Q:
Give me a well written police report or document indicating that the victim was arrested, severely tortured and taken away his rights and freedoms because of his political activism being in the...
A:
Your Name Your RankPosition Police Department Address City State Zip Code Date Incident Report Case Number Case Number Incident Details On Date at app......
Q:
XYZ Inc's common stock is currently selling on the market for $85 per share. There are 100'000 shares outstanding. The firm has just paid a dividend of $2. Analysts project that XYZ will grow at a...
A:
To calculate the weighted average cost of capital WACC for XYZ Inc well follow these steps 1 Find th......
Q:
Using any appropriate Tests, determine convergence or divergence of the following series: (a) n6 + 3n4 + 2 Vn14 + 2n8 + 2n n=1 (b) n* + 2n3 + 3n? Vn12 + 5n6 + 4n n=1 (c) 2n3 - n. 5n3 + 3 n=1 (d) (n...
A:
Results used A B C D We There of 1 Necessary are given ser......
Q:
A seasonal index may be less than one, equal to one, or greater than one. Explain what each of these values would mean.
A:
A seasonal index indicates how a specific season eg month or quarter......
Q:
Sales mix decision dr. Massy, who specializes in internal medicine, wants to analyze his sales mix to find out how the time of his physician assistant, consuela ortiz, can be used to generate the...
A:
In order to see the best use of time the best proxy to be used would be the contribution per unit an......
Q:
Sales mix decision dr. Massy, who specializes in internal medicine, wants to analyze his sales mix to find out how the time of his physician assistant, consuela ortiz, can be used to generate the...
A:
If the weight loss program is being prioritized by t......
Q:
Sales mix decision dr. Massy, who specializes in internal medicine, wants to analyze his sales mix to find out how the time of his physician assistant, consuela ortiz, can be used to generate the...
A:
The first ranking system that has been devised should be used where the doc......
Q:
An unknown compound A of molecular formula of C10H180 reacts with H2S04 and heat to form two compounds (B and C) of molecular formula C10H16. B and C both react with H2 over Pd/C to form decalin....
A:
Click to View...
Q:
Identify some of the major challenges confronting the international trading system.
A:
Some of the major challenges amon......
Q:
Test your wits and complete the paragraphs below by sharing your learnings from the previous discussions. Write your answers on your notebook. (15 points) When deciding on a research topic, there are...
A:
Answer These are indicate accurately the subject and scope of the study title......
Q:
A contract to buy land is not enforceable unless its in writing, but our clients contract to buy land is in writing. In the following enthymemes, determine whether the missing statement is a premise...
A:
Click to View...
Q:
Navajo Companys financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Inventory on December 31, 2012,...
A:
Key Figures a Cost of goods sold b Net income c Total current assets d Total equity Inventory errors Understated December 31 2012 Overstated December......
Q:
In the short article "Royal Dutch Shell Finally Delivers Big Stock Buyback, But Shares Break Support" by Aparna Narayanan (see below), stock repurchases may produce favorable effects on key financial...
A:
Stock repurchases also known as share buybacks are financial strategies used by corporations to buy back their own shares from the open market These b......
Q:
Write a short Java method, inputAllBaseTypes, that inputs a different value of each base type from the standard input device and prints it back to the standard output device.
A:
imrt jvutilSnner ubli lss rintBseTyes ubli stti vid minString rgs inutllBseTyes Inuts different vlue......
Q:
Read the following discussion and give your response: Should company managers in Saudi Arabia abide by Saudi norms governing the treatment of women? Should they accept the cultures refusal to...
A:
I agree with you completely There are times when it is best to keep ones mouth shut and a......
Q:
Write a paper on the challenges of leading groups in a criminal justice or private security organization. Describe the challenges currently faced by leaders of criminal justice organizations. Explain...
A:
Challenges faced by the leaders of criminal justice organizations The leaders in criminal justice organizations have to face the challenges that occur in everyday life The organizations that come unde......
Q:
Can scientists ever be completely objective when conducting research? Why or why not? Support your argument with resources. What might be the consequences (positive and/or negative) of emotion in...
A:
The question of whether scientists can ever be completely objective when conducting research is a complex and debated topic in the philosophy of scien......
Q:
Francisco's Frames makes two types of frames, one Simple and one Complex. The simple product is a traditional photo frame, but the Complex product is a digital photo frame and requires computer...
A:
The answer provided below has been developed in a clear step by step manner Step 1 Using traditional......
Q:
Consider the QUICKSORT and PARTITION algorithms below and suppose the initial call of QUICKSORT(X, 1,9), is X[1..9] = < 26,54,1,47,95,18,40,1,26 > QUICKSORT(X,p,r) 1 2 3 1 PARTITION(X, p,r) 2 3 if p
A:
Lets go through each part of your question step by step a What is the value of q returned......
Q:
How do database indexes work? Describe the technical process used by database indexes to improve efficiency of queries and reduce resource consumption on a database server during complex queries and...
A:
How do databases work A database index enables swift retrieval of particular information from a large dataset If I try to explain in simple words Imagine if I had a big bookshelf with lots of books If......
Q:
A computer manufacturer is developing a production schedule for the next four quarters.Demand for this manufacturer's laptop is estimated to be 1200 units in Q1;2100 in Q2;1500 in 3 quarters;and 600...
A:
SOLUTION To solve the production scheduling problem and minimize the total cost over the planning......
Q:
Explain, with the use of a numerical example, the meaning of the term 'cash operating cycle' and its significance in relation to working capital management.
A:
The cash operating cycle also known as the operating cycle or working capital cycle is a crucial concept in financial management that measures the time it takes for a company to convert its investment......
Q:
Speedy Racers Ltd. transport passengers (bus and taxi services) and goods (by truck). The company generates both taxable and exempt services for VAT purposes and have received approval from the...
A:
Income Transporting goods Consideration R842000 Vatable Yes Section 71a of the VAT Act VAT Amount 84......
Q:
In Problems 1522, find the principal needed now to get each amount; that is, find the present value. To get $750 after 2 years at 2.5% compounded quarterly.
A:
A 750 r 002......
Q:
Tell whether the information in the diagram allows you to conclude that C is on the perpendicular bisector of AB. A C P B
A:
Based on the given diagram the information in the diagram does not allow......
Q:
Tell whether the information in the diagram allows you to conclude that C is on the perpendicular bisector of AB.
A:
we can indeed conclude that point C is on the perpendicular bisector of line segment AB Here......
Q:
The following information is available from the current period financial statements: Net income $ 122,438 Depreciation expense 39,870 Increase in accounts receivable 18,917 Decrease in accounts...
A:
Expert Answer General Guidance The answer provided below has been d......
Q:
The SEC criticized Frank Sinopoli for not sending an audit inquiry letter to Geo Securities external legal counsel. Describe the nature and purpose of such a letter. Do you agree with the SEC that...
A:
AU Section 337 Inquiry of a Clients Lawyer Concerning Litigation Claims and Assessments of the PCAOBs Interim Standards discusses the responsibility o......
Q:
What makes a repair extraordinary (as opposed to ordinary)? Give an example of anextraordinary and an ordinary repair. What is the financial statement effect of recording a repair as an extraordinary...
A:
An extraordinary repair is not expected to recur dur......
Q:
State the contrapositives of the following propositions, and indicate which of them are equivalent to the given propositions. 1. All journalists are pessimists. 2. Some soldiers are not officers. 3....
A:
1 All nonpessimists are nonjournalists Equivalent 2 Some......
Q:
It is not the case that both Walmarts jeopardizing worker safety implies that Target does and Costcos treating workers decently implies that Kmart does. Translate the following statements into...
A:
Click to View...
Q:
Adarmes Adventures manufactures aluminum canoes. In planning for the coming year, CFO Alexis King is considering three different sales targets: 2,500 canoes, 3,000 canoes, and 3,500 canoes. Canoes...
A:
Unit 2500 3000 3500 Sales revenue 800 2000000 2400000 28000......
Q:
Case Study : The Keller Fund's Option Investment Strategies Question: While we are bargain hunting, let's compare the prices for Lotus's options with those for AT&T. AT&T's options are consistently...
A:
The relative pricing of options between Lotus and ATT doesnt necessarily imply a bargain or lack the......
Q:
Use a ruler and protractor to draw the given type of triangle. Mark the largest angle and longest side in red and the smallest angle and shortest side in blue. What do you notice? Right scalene
A:
A right scalene triangle has a right angle and no con......
Q:
Copy and complete with < , > or =. Explain. mZ1? mL2 1 2
A:
In ABC and DBC AC CD gi......
Q:
Tattletale News Corp. has been growing at a rate of 20% per year, and you expect this growth rate in earnings and dividends to continue for another 3 years. a. If the last dividend paid was $2, what...
A:
a DIV 1 2 120 240 b DIV 1 240 DIV 2 28......
Q:
Think about Elijah Cummings, a civil rights advocate and Congressman from Maryland. He is the first African American lawmaker to lie in state at the U.S. Capital. Please survey your favorite news...
A:
The News Source The specific news source you choose to examine would greatly influence how they cove......
Q:
Suppose you invest in a stock for four months. The expected return for the investment is 15%, and the expected volatility is 8%. What is the annualized Sharpe ratio? Assume that the annual risk-free...
A:
To annualize the Sharpe ratio you can use the following formula Expected ReturnRiskFree Rate V......
Q:
A string is a palindrome if it reads the same forward and backward, for example 'racecar'. Given text, find and return the longest consecutive substring inside text that is a palindrome. If there...
A:
Python Function def longestPalindrometext if not text return......
Q:
Create three or more MySQL Data Control language (DCL) Statements using the any database(for example) A Create new user statement for the database A statement that grants privileges to the new user A...
A:
Here are three MySQL Data Control Language DCL statements 1 Create New User Statement This statement......
Q:
a. The following information regarding option quotes is available in January for Wattle Ltd: XX January 20XX Wattle Ltd Last sale price = $22.00 Strike Price $23.00 May $1.05 Calls Last June $1.25...
A:
a i Calculate the June put money now in the money or not Why To determine if the June put option is......
Q:
For married couples living in a certain suburb, the probability that the husband will vote on a bond referendum is 0.21, the probability that his wife will vote in the referendum is 0.28, and the...
A:
Consider the events H the husband will vote on......
Q:
For the following exercises, find the inverse of the function and graph both the function and its inverse. f(x) = 4 x 2 , x 0
A:
fx 4 x 2 x 0 fo......
Organizational Behaviour An Introductory Text 4th Edition - ISBN: 0273651021 - Free Book