Seth and alexandra moore of elk grove village, illinois have an annual income of $110,000 and want to buy a home. currently, mortgage rates are 5.0 percent. the moores want to take out a mortgage for 30 years. real estate taxes are estimated to be $4,800 per year for homes similar to what they would like to buy, and homeowner's insurance would be about $1,500 per year. a) using a 28 percent front-end ratio, what are the total annual and monthly expenditures for which they would qualify? b) using a 36 percent back-end ratio, what monthly mortgage payment (including taxes and insurance) could they afford given that they have an automobile loan payment of $470, a student loan payment of $350, and credit card payments of $250? (hint: subtract these amounts from the total monthly affordable payments for their income to determine the amount left over to spend on a mortgage.)
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 12:30, ash011519
On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.
Answers: 3
Business, 22.06.2019 12:50, angelrenee2000
There is a small, family-owned store that sells food and household goods in a small town. the owners have good relations with the community, especially with local farmers who supply much of the food. the farmers aren't organized into a cooperative or union, and the store deals with each individually. suppose the store wanted to buy some farms to control the supply of certain vegetables. how would you classify this strategic move? select one: a. horizontal integration b. forward integration c. backward integration d. concentric integration
Answers: 2
Business, 22.06.2019 21:50, dontworry48
Abus pass costs $5 per week. which of the following equations shows the total cost in dollars, t, of the bus pass for a certain number of weeks, w? t = 5w w = 5t t = 5 + w w = 5 + t
Answers: 3
You know the right answer?
Seth and alexandra moore of elk grove village, illinois have an annual income of $110,000 and want t...
Questions in other subjects:
Mathematics, 08.04.2021 23:50
Mathematics, 08.04.2021 23:50
French, 08.04.2021 23:50
