Jane's monthly gross income is $4,000 and her consumer debt payments are $400 per month. Given a GDS norm of 32 percent and a TDS norm of 40 percent, what is the most she could pay on mortgage-related
Answers
Jane's maximum mortgage-related payment can be calculated based on the Gross Debt Service (GDS) and Total Debt Service (TDS) norms. The GDS norm sets a limit on the percentage of Jane's gross income that can be used for housing expenses, including mortgage payments, property taxes, and heating costs. The TDS norm, on the other hand, limits the percentage of her gross income that can be allocated to all debt payments, including housing expenses, consumer debts, and other loans.
Jane's gross income is $4,000 per month, and her consumer debt payments are $400 per month. The GDS norm is 32 percent, and the TDS norm is 40 percent. To calculate the most she could pay on mortgage-related expenses, we need to determine the maximum allowable amount for both GDS and TDS.
For GDS, the maximum allowable housing expenses would be 32 percent of her gross income:
GDS = 32% * $4,000 = $1,280
For TDS, the maximum allowable debt payments, including housing expenses, would be 40 percent of her gross income:
TDS = 40% * $4,000 = $1,600
Since Jane's consumer debt payments are already $400 per month, the maximum amount she could pay on mortgage-related expenses would be the difference between the GDS and TDS calculations:
Maximum mortgage-related payment = TDS - consumer debt payments
= $1,600 - $400
= $1,200
Therefore, the most Jane could pay on mortgage-related expenses is $1,200 per month based on the given GDS and TDS norms, her gross income, and current consumer debt payments.
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Related Questions
If i paid $625 interest on $5000 that i borrowed at 5%, how many years did i borrow it?
Answers
To calculate the number of years you borrowed the $5000, you can use the following formula:
Years = Interest ÷ (Loan Amount x Interest Rate)
Where:
Interest = $625
Loan Amount = $5000
Interest Rate = 5% (converted to decimal form: 0.05)
Plugging in the values, we get:
Years = $625 ÷ ($5000 x 0.05) = $625 ÷ $250 = 2.5 years. So you borrowed the $5000 for 2.5 years.
In other words, the interest of $625 results from borrowed $5000 for 2.5 years at a 5% interest rate. The interest is calculated as a percentage of the loan amount and represents the cost of borrowing the money. By dividing the interest by the loan amount and the interest rate, we can determine the years over which the interest was charged.
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A tire with lower than specified inflation pressure could lead to what condition?
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A tire with lower than specified inflation pressure could lead to reduced tire life and fuel economy so D. All of the above.
What can a lower than specified inflation pressure lead to?When a tire is not inflated to the pressure that it is meant to be inflated to, it can lead to reduced tire life because the tire would not adequately handle to weight of the car.
Fuel economy would then reduce as the tires demand more energy to compensate and this can increase the chances of tire faults and other faults that can lead to accidents.
Options include:
a. Reduced fuel economyb. Reduced tire lifec. Increased chances of roadside faults or accidentsd. All of the aboveFind out more on tire pressure at https://brainly.com/question/14640037
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required information skip to question [the following information applies to the questions displayed below.] tyrell company entered into the following transactions involving short-term liabilities. year 1 april 20 purchased $38,000 of merchandise on credit from locust, terms n/30. may 19 replaced the april 20 account payable to locust with a 90-day, 9%, $35,000 note payable along with paying $3,000 in cash. july 8 borrowed $63,000 cash from nbr bank by signing a 120-day, 11%, $63,000 note payable. ?question mark paid the amount due on the note to locust at the maturity date. ?question mark paid the amount due on the note to nbr bank at the maturity date. november 28 borrowed $21,000 cash from fargo bank by signing a 60-day, 7%, $21,000 note payable. december 31 recorded an adjusting entry for accrued interest on the note to fargo bank. year 2 ?question mark paid the amount due on the note to fargo bank at the maturity date. 2. determine the interest due at maturity for each of the three notes. note: do not round intermediate calculations and round your final ans
Answers
When Tyrell Company paid the amount due on the note to Locust at the maturity date, they would have paid the principal amount of $35,000 plus the interest accrued over the 90-day period at a rate of 9%.
The maturity date would have been 90 days after the note was issued on May 19, so the maturity date would have been August 17. Therefore, the amount due would have been $35,000 plus interest of ($35,000 x 0.09 x 90/360) = $787.50.
Similarly, when Tyrell Company paid the amount due on the note to NBR Bank at the maturity date, they would have paid the principal amount of $63,000 plus the interest accrued over the 120-day period at a rate of 11%. The maturity date would have been 120 days after the note was issued on July 8, so the maturity date would have been November 5. Therefore, the amount due would have been $63,000 plus interest of ($63,000 x 0.11 x 120/360) = $2,310.
Finally, when Tyrell Company paid the amount due on the note to Fargo Bank at the maturity date, they would have paid the principal amount of $21,000 plus the interest accrued over the 60-day period at a rate of 7%. The maturity date would have been 60 days after the note was issued on November 28, so the maturity date would have been January 27 of Year 2.
Therefore, the amount due would have been $21,000 plus interest of ($21,000 x 0.07 x 60/360) = $245.
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Why might working on a commission basis make dealing with finances more difficult?
(need a few sentences)
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hurry please i need the answer im on a quiz
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The transcontinental railroad change life for people in the United States because it became much easier to travel from the east to the west.
What is transcontinental railroad?
Contiguous railroad trackage that spans a continental land mass and has terminals at various oceans or continental borders is known as a transcontinental railroad or transcontinental railway. Such networks can be over lines that are owned or controlled by a single railroad, a network of railroad companies, or both along a continuous path.
Although there are railroads all over Europe, they are typically not regarded as transcontinental, with the potential exception of the legendary Orient Express.
Transcontinental railroads made it possible to explore and settle previously unreachable uninhabited interior areas of continents.
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a consumer lives on a diet of solely steak and potatoes. her budget is $30 for every 10 days, and she must buy enough potatoes to eat at least two potatoes per day
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If a consumer lives on a diet of solely steak and potatoes and her budget is $30 for every 10 days, and she must buy enough potatoes to eat at least two potatoes per day.
Let's say that the consumer eats "x" steaks and "y" potatoes per day. So, the cost of eating one meal a day of steak and potatoes can be calculated by: Cost of one meal = Sx + Py. Since the consumer eats two potatoes per day, the cost of eating two potatoes per day = 2P. Then, the cost of eating potatoes for 10 days will be 20P.The total cost of 10 days will be:$30 = 10 (Sx + Py). Now, the problem is to find the optimal combination of x and y so that the total cost is minimized. The objective function (total cost) is: Total cost (C) = 10Sx + 20P (since two potatoes are eaten every day, i.e., y = 2).
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Chenglei, an IT manager, has been studying the actions that his workers perform in an attempt to improve their productivity. Chenglei is utilizingA) job evaluationB) management science.C) behaviorism.D) the Hawthorne effect.E) scientific management
Answers
Answer: scientific management
Explanation:
Howard Weiss, Inc., is considering building a sensitive new radiation scanning device. His managers believe that there is a probability of 0.40 that the ATR Co. will come out with a competitive product. If Weiss adds an assembly line for the product and ATR Coes not doem with a competitive product, Weiss's expected profit is $50,000; if Weiss adds an assembly line and ATR follows suit, Weiss still expects $20,000 profit. If Weiss adds a new plant addition and ATR does not produce a competitive product, Weiss expects a profit of $600,000; if ATR does compete for this market, Weiss expects a loss of $80,000.
a) Expected value for the Add Assembly Line option = $________(enter your answer as a whole number).
Part 3
Expected value for the Build New Plant option = $_______(enter your answer as a whole number).
Part 4
The alternative that provides Weiss the greatest expected monetary value (EMV) is _________
Build New Plant?
.Part 5
The value of the return under this decision is $_______ (enter your answer as a whole number).
Part 6
b) The expected value of perfect information (EVPI) for Weiss = $____(enter your answer as a whole number).
Answers
Decision analysis is the process of making decisions based on quantitative data and analysis. Howard Weiss, Inc. is considering constructing a delicate new radiation scanning gadget. His managers believe that there is a 0.40 probability that the ATR Co.
will launch a competitive product. If Weiss builds an assembly line for the product and ATR Co. does not develop a competitive product, Weiss's anticipated profit is $50,000. If Weiss creates an assembly line and ATR follows suit, Weiss expects a profit of $20,000. If Weiss constructs a new plant addition and ATR does not produce a competitive product, Weiss anticipates a profit of $600,000.
If ATR does compete for this market, Weiss anticipates a loss of $80,000. The value of the return on this decision is $310,000.The anticipated value of perfect information (EVPI) for Weiss = $40000. The difference between the anticipated return with perfect information and the anticipated return with present knowledge is the EVPI. The EVPI is equal to the highest EMV minus the EMV obtained in the absence of complete knowledge, according to the formula. Therefore, the EVPI = 50,000 - 45,000 = $40000.
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According to the video, which tasks are Special Education Teachers likely to perform? Check all that apply. teaching basic subject material driving students to and from school working with educational technology working with and meeting with parents preparing lesson plans volunteering in public libraries interviewing other teachers to hire
Answers
Answer:
Teaching basic subject material,working with educational technology,working with and meeting with parents,preparing lesson plans
Explanation:
Just took the assignment Hope this helped
Answer:
look at the picture
Explanation:
Explain a situation where user would transpose data on a spreadsheet in Microsoft Excel. Give at least one example to illustrate your reasoning. Use details to support your answer.
Answers
Answer:
below
Explanation:
function must be entered as an array formula in a range that has the same number of rows and columns, respectively, as the source range has columns and row
influences of Business environment,
Answers
Factors that Influence the business environment are :
Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment
The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.
Importance of business environment:
Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.The economic environment is all the things that create an economic impact on the firm.
The social environment is all the traditions and customs of the society that creates an impact on the firm.
The technological environment is all the impact on the firm caused due to new technology and upgradations.
The political environment is the conditions and behavior that the elected representatives hold toward the business
The legal environment is entirely based on the rules and legislation of the authorities.
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There will be a higher equilibrium price and lower quantity if _____.
Answers
Answer:
Supply decreases
Explanation:
Equilibrium is a balanced scenario where demand matches supply. At equilibrium, both sellers and buyers are happy with the current price. The market has no excess demand or supply or demand.
A decrease in supply while demand stays constant results in many customers competing for the few products in the market. There will be scarcity because the supply cannot satisfy demand. The supply curve shifts outwards or to the right resulting in a new and higher equilibrium point. The price will increase while the quantity supplied declines.
if expected inflation is 3%, then the real interest rate is a. 3% b. 0% c. 1% d. there is not enough information to answer this question
Answers
The real interest rate can be calculated by subtracting the expected inflation rate from the nominal interest rate. Since we do not have information about the nominal interest rate, we cannot determine the real interest rate. Therefore, the correct answer is d. there is not enough information to answer this question.
we need to consider the Fisher equation, which relates nominal interest rates, real interest rates, and inflation. The Fisher equation is given by:
Nominal interest rate = Real interest rate + Expected inflation
We are given the expected inflation as 3%, but we do not have the nominal interest rate. Therefore, we cannot determine the real interest rate with the information provided. So, the correct answer is:
d. There is not enough information to answer this question.
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Culinary Solutions Inc. manufactures cooking and baking equipment and has its base in the country of Vandevar. It has approximately 300 stores across the country and is already active in three foreign countries. It attempts to establish itself in the country of Balalaika, and uses its low-cost strategy to do so. However, due to the additional costs associated with training, coordinating across geographic distances, and other costs associated with doing business in an unfamiliar cultural and economic environment, Culinary Solutions Inc. incurs huge financial losses in Balalaika. In this scenario, Culinary Solutions Inc.'s failure to establish itself successfully in Balalaika occurs most likely because
Answers
Question #1
Multiple Choice
What is it called when a small number of companies control more than 40 percent of a market?
O monopoly
O oligopoly
O competitive market
duopoly
Question # 2
Fill in the Blank
Answers
Answer:
Oligopoly.
Explanation:
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
The characteristics of an oligopolistic market structure are;
1. Mutual interdependence between the firms.
2. Market control by many small firms.
3. Difficult entry to new firms.
According to the concentration ratio, when a small number of companies control more than 40 percent of a market, it is called an oligopoly.
Budget decision occur in situations characterized by intense political conflict T/F
Answers
This statement is True. Budget decisions often occur in situations characterized by intense political conflict.
The allocation of resources and the determination of budget priorities can be highly contentious and subject to competing interests, values, and ideologies.
Different stakeholders may have conflicting views on how funds should be allocated, leading to debates, negotiations, and political battles over budget decisions.
Political parties, interest groups, and government officials often engage in intense discussions and conflicts to influence budgetary decisions in favor of their priorities and constituents.
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Answer the following question in 3-4 complete sentences. A poster of a man sitting on a motorcycle on a cliff that reads, "Honda. " Examine the advertisement above. What is being advertised? Most likely, who is their target audience or buyer? What does this advertisement say to the buyer?.
Answers
Answer:
Answers may vary, but should be similar to the following: This is an advertisement for Honda motorcycles. Based on the picture, the location it shows (beach front at sunset), and the man in the advertisement, the target audience is most likely males in either their 20s or 30s, or perhaps older males who want to feel younger again. The advertisement and the imagery used speaks of such emotions and experiences as, independence, power, wide-open spaces, and freedom.
Explanation:
This is an advertisement for Honda motorcycles. The location shows the man in the ad, the target audience is most likely males in either their 20s or 30 or perhaps older males who want to feel younger again.
What is the advertisement saying to the buyer?The advertisement and the imagery are used to speak of such emotions and experiences as independence, power, wide-open spaces, and freedom. An advertisement, otherwise known as an advert or ad, is generally considered a public communication that promotes a product, service, brand or event. To some the definition can be even broader than that, extending to any paid communication designed to inform or influence.
If these definitions feel vague, it’s because they are the truth that advertisements can be tricky to define, now more than ever. From bus shelters to search engines to influencers, the field of advertising has never been broader, deeper or more complex.
It’s important to note that advertising is not the same as marketing and it is rather a subcategory of it.
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A down payment is usually what percentage of the asking price of a home?
Answers
Answer:
In most cases, you need a down payment of at least 3 percent of your target home price. Many loan types and lenders require 5 percent down or more. You can often save money if you put down at least 10 percent of the home price, and you'll save the most if you put down at least 20 percent.
Explanation:
i hopes this helps you
Answer:
5-20
Explanation:
I am built different
TRUE OR FALSE? Please help
Compound interest includes interest only on the principle balance
Answers
(ANSWERED) When should a human resources professional post a job internally?
close
A.
Internal postings are useful when competition for jobs is undesirable.
done
B.
Internal postings are used when existing employees have the right skills.
C.
It is not a good idea to post jobs internally because existing employees don't have new ideas.
D.
The law requires that all jobs be posted internally for 30 days.
ANSWER - B. Internal postings are used when existing employees have the right skills.
Answers
Explanation:
Internal postings are used when existing employees have the right skills.
Name two books of prime entry that are also books of double entry?
Answers
Answer:
Cash payment journal
Petty cash payment journal
Explanation:
What can be traded in a commodities market? stock bonds oil debt
Answers
Answer: C ,oil
Explanation:
did the test
The Oil can be traded in a commodities market.
Why oil can be traded in a commodities market?Oil trading is the selling and buying of various types of oil and oil-related substance to make a profit. Oil is a finite resource, its price can fluctuate wildly due to changes in supply and demand. This volatility makes it extremely familiar among traders. Crude oil is a global commodity that is traded in markets around the world, both as spot oil and through derivative contracts.To learn more about Oil trade refer to:
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what is a cash book used for?
Answers
Answer:
to keep track of all business transactions in case of an audit
describe how a university might use a customer flow map to improve their process to issue identification cards. draw an appropriate customer flow map for this process.
Answers
A university can use a customer flow map to streamline the process of issuing identification cards. The map would start with the initial application, followed by document verification, photo capture, card production, and card pickup.
Each step would be represented as a box or rectangle, connected by arrows indicating the flow of the process. The map would also include estimated times for each step and identify potential bottlenecks or areas for improvement.
By analyzing the flow map, the university can identify inefficiencies and make targeted improvements to enhance the overall experience of obtaining identification cards.
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Type the correct answer in the box. Spell all words correctly.
Which plan offers a tax-free education?
A_________Plan is a plan that offers a tax-free education, even upon withdrawal. However, the use of the money is
limited and can only be used for education expenses.
Answers
Answer:
529
Explanation:
A 529 plan is a plan to encourage savings for future education expenses. The money saved in a 529 plan is not subject to taxation as long as it will be used for education purposes.
Parents, grandparents, or guardians can open 529 savings account for a child, who will be named as the beneficiary. The contributor of funds to the account may be eligible for a state tax deduction for contributing to a 529 plan. The gains on the accounts are exempt from tax if they are to be used on education expenses.
Which of the following might experience a factor of failure related to expansion?
A. A hair salon that hires new employees immediately after it opens
B. A restaurant that doesn't have a website
C. A shoe store located near another popular shoe store
D. A grocery store with employees who miss company meetings
Answers
Answer:
a
Explanation:
cggm nauseousness hfff fallen
Type the correct answer in the box. Spell all words correctly.
Peter is planning his finances for the next couple of years. He wants to save money to eventually by a house because he will be getting married
soon. He has created a savings plan revolving around his necessary expenses, and he has set a target of three years to save up a down paymet
for a house. At which phase of the financial life cycle is Peter in?
Peter is in the
phase of the financial life cycle.
Answers
Answer: initial stage
Explanation:
The initial stage of financial life cycle is simply the first stage or the beginning phase of the financial cycle. Since he want to save so that he can get a house, thus means that he wants to accumulate asset.
Furthermore, it should be noted that the initial phase of the financial life cycle typically begin at a young age of about 25 years.
Answer:
initial stage
Explanation:
Which of the following does not describe a product feature?*
flavor
price
texture
color
Answers
Answer:price
Explanation:
If the police want to enter a home to find evidence, what must they request?
A. An affidavit of probable cause
O B. A search warrant
O
C. A witness' testimony
о D. A motion for arraignment
SUBM
Answers
Answer:
B. A search warrant
Explanation:
hope it helps
If you are projecting your future financially, what are your
doing?
Risking
Forecasting
Managing
Expanding
Answers
Answer:
Forecasting
Explanation:
Because a weather forecast looks ahead for weather. You are forecasting your financial future