Business
Business, 20.07.2020 02:01, tyde4209

Rent Versus Buy. Alex Guadet of Nashville, Tennessee, has been renting a two-bedroom house for several years. He pays $900 per month in rent for the home and $300 per year in property and liability insurance. The owner of the house wants to sell it, and Alex is considering making an offer. The owner wants $160,000 for the property, but Alex thinks he could get the house for $150,000. Alex has talked to his banker and could get a 5 percent mortgage loan for 25 years to finance the remainder of the purchase price. The banker advised Alex that he would reduce his principal by $1,700 during the first year of the loan. Property taxes on the house are $1,400 per year. Alex estimates that he would need to upgrade his property and liability insurance to $1,200 per year and would incur about $3,000 in costs the first year for maintenance and improvements. Property values are increasing at about 3 percent per year in the neighborhood. Alex will have to pay $50 a month for private mortgage insurance. He is in the 25 percent marginal tax bracket. b. Considering his reduction in principal the first year, how much interest would Alex pay during the first year of the loan?

answer
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 09:40, leomessifanboy678
As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?
Answers: 3
image
Business, 22.06.2019 19:30, ssiy
Quick calculate the roi dollar amount and percentage for these example investments. a. you invest $50 in a government bond that says you can redeem it a year later for $55. use the instructions in lesson 3 to calculate the roi dollar amount and percentage. (3.0 points) tip: subtract the initial investment from the total return to get the roi dollar amount. then divide the roi dollar amount by the initial investment, and multiply that number by 100 to get the percentage. b. you invest $200 in stocks and sell them one year later for $230. use the instructions in lesson 3 to calculate the roi dollar amount and percentage. (3.0 points) tip: subtract the initial investment from the total return to get the roi dollar amount. then divide the roi dollar amount by the initial investment, and multiply that number by 100 to get the percentage.
Answers: 2
image
Business, 23.06.2019 04:00, jasmine2531
Asmall company has 10,000 shares. joan owns 200 of these shares. the company decided to split its shares. what is joan's ownership percentage after the split
Answers: 2
image
Business, 23.06.2019 11:00, coreyslotte
Stacy is preparing a product presentation with customer, marketing, and technical content. she will first present it to an engineering audience mainly interested in technical product details. what should she do? select the best option. hide the marketing content slides for the engineering audience. save a new version and delete unwanted slides for this audience. cut and paste all the unwanted slides to the end. create a custom slide show for multiple audiences.
Answers: 3
Do you know the correct answer?
Rent Versus Buy. Alex Guadet of Nashville, Tennessee, has been renting a two-bedroom house for sever...

Questions in other subjects:

Konu
Mathematics, 22.10.2020 22:01
Konu
Mathematics, 22.10.2020 22:01