A seller has a $200,000 mortgage and closing cost of $10,000. The seller will also pay a 5% commission to a licensee. What minimum listing price will net the seller $125,000? $335,000 342,105 351,250 352,632
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- A house is selling for $180,000. A deposit of $10,000 was made when the sales contract was signed. The down payment is 25% and the balance will be financed with a 25-year mortgage at 8% and 3 discount points. If the sellers are responsible for the broker's commission (5% of the purchase price); $1,750 in other closing costs; and the existing mortgage with a balance of $50,000; what proceeds will they receive on the sale of the property? A. $109,750.00 B. $113,850.00 C. $119,250.00 D. $122,850.00A house is selling for $150,000 a deposit of $20,000 was made when sales contract was signed. The down payment is 30% and the balance will be financed with a 25 year mortgage at 4.25% and four discount points. If the sellers are responsible for the brokers commission of 6% of purchase price, $$1300 in other closing cost, and existing mortgage with balance of $40,000 what proceeds will the seller receive? $108,700 $99,700 $101,000 $69,450A house is selling for $190,000 a deposit of $10,000 was made when sales contract was signed. The down payment is 25% and the balance will be financed wits 25 year mortgage at 9% and three discount points. If the sellers are responsible for the brokers commission of 6% of purchase price, $1,250 in other closing costs, and the existing mortgage, with a balance of $70,000, what proceeds will the sellers receive from the sale of the house? $118,750 $125,380 $107,350 $94,840
- A house is selling for $150,000. A deposit of $20,000 was made when the sales contract was signed. The down payment is 30% and the balance will be financed with a 25 year mortgage at 4.25% and 4 discount points. If the sellers are responsible for the broker’s commission (6% of the purchase price); $1700 in other closing costs; and the existing mortgage with a balance of $30,000; what proceeds will they receive on the sale of the property?A buyer is applying for a mortgage loan of $70,000, with an annual interest rate of 12% and blended monthly payments of $722.32 including both principal and interest. The taxes on the property being mortgaged are $1900 per annum. The buyer has a gross income of $41,400 per annum. The buyer's debt service ratio is: a.20.94% b.15.10% c.25.53% d.25.78%A retail tenant signed a lease agreeing to pay $12.00/SF in base rent plus 3% of sales over a breakpoint of $1.8 million. If the retailer has $6.0 million in sales this year, how much will that retailer have to pay in percentage rent?
- You purchase a cottage for $185,000. You obtain a 30-year, fixed rate mortgage loan at 13.0% after paying a down payment of 30%. Of the second month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answers to the nearest cent.)Interest $________Applied to Principle $__________Marigold Corp. purchased a building on January 2 by signing a long-term $624000 mortgage with monthly payments of $5950. The mortgage carries an interest rate of 10 percent. The amount owed on the mortgage after the first payment will be $623250. $618050. $618800. $624000.Eagle Technologies currently has a $200,000 principal balance on an 8%, 20-year mortgage note payable. If Eagle makes semiannual mortgage payments, how large will the interest expense on its next payment be? $2,400 $800 $8,000 $16,000
- Mr. X provided the following data on sale of his personal property sold in 2020 held by him for 15 months: Cost P225,000 Mortgage assumed by the seller 270,000 Installment Collection Schedule: 2020 67,500 2021 67,500 2022 45,000 How much is the contract price? Group of answer choices P180,000 P450,000 P225,000 P270,000Pina Universe charges an initial franchise fee of $ 234,000. Upon the signing of the agreement, a payment of $ 26,000 is due. Thereafter, 5 annual payments of $ 41,600 are required. The credit rating of the franchisee is such that it would have to pay interest at 9% to borrow money. The franchise agreement is signed on August 1, 2020, and the franchise commences operation on October 1, 2020. Prepare the journal entries in 2020 for the franchisor under the following assumptions. a. No future services are required by the franchisee once the franchise starts operations. b. The franchisor has substantial services to perform, once the franchise begins operations, to maintain the value of the franchise. c. The total franchise fee includes training services (with a value of $ 6,900) for the period leading up to the franchise opening and for 2 months following openingAn investor buys a property for $691,000 with a 25-year mortgage and monthly payments at 7 4% APR After 18 months the investor resells the property for $756,910 How much cash will the investor have made from the sale, once the mortgage is paid off? OA. $64,878 OB. $162,195 OC. $113,536 OD. $81,097