The Thompson's plan to buy a home for $145,000 with a 15% down payment. The closing costs will be as follows: inspections, $425; legal fees, $1,295; title insurance, $190; miscellaneous fees, $345. How much cash will be due at signing? How much money will the Thompson's have to borrow?
$24,005, $123,250
You might also like to view...
Which of the following is a problem posed by outsourcing to private-sector companies?
A) loss of jobs in domestic market B) increased interference of politicians because of their support C) increased cost of manufacturing goods D) decreased exports to developing countries
An investor purchased a 10-year bond that makes a $50 interest payment at the end of every six-month period until the bond matures. These interest payments represent a(an) _____.
A. perpetuity B. ordinary annuity C. annuity due D. compounded annuity E. discounted annuity
The difference between customer lifetime value and customer equity is that
A. customer lifetime value looks at specific target markets. B. customer lifetime value focuses on purchases over the next year, while customer equity takes into account a longer time horizon. C. customer equity reflects the total stream of purchases that a customer could contribute to a company over the length of the relationship. D. customer equity takes a financial approach where customer lifetime value does not. E. customer equity takes into account a firm's current and future customers and the costs associated with each.
The following selected data relate to the Ohio Division of Midwest Industries (MWI):Sales revenue$4,580,000Uncontrollable fixed costs traceable to the division1,360,000Allocated corporate overhead590,000Controllable fixed costs traceable to the division1,120,000Variable costs40% of revenueRequired: A. Compute the following for the Ohio Division: 1. Segment contribution margin.2. Controllable profit margin.3. Segment profit margin.B. Which of the three preceding measures should be used when evaluating the Ohio Division as an investment of MWI's resources? Why?C. Assume that management made the decision to prepare a segmented income statement that reflected Ohio's five operating departments. Would all $1,120,000 of the controllable fixed costs be easily traced to the departments? Briefly
explain.D. Which of the five-dollar amounts presented in the body of the problem would be used in computing the income before taxes of MWI? What will be an ideal response?