The Smiths purchase a $600,000 house and must sell their old home inorder to make a 20 percent down payment plus closing costs of $7,000 onthe new house. Currently, they have a mortgage balance of $100,000 ontheir old home, which has been appraised at $300,000. They have beenpre-approved by the lender to qualify for a $480,000 mortgage in the newhome. The lender offers a bridge loan at 10 percent simple interest. Theclosing date on the new house is February 13, and the Smiths sell their oldhome on May 15.a. How much cash must the Smiths put down on their new house?b. How much equity do the Smiths have in their old house? c. How much must they borrow if they take a bridge loan?d. What is the dollar amount of interest paid on the bridge loan?

George and Peggy Fulwider bought a house from Sally Sinclair for $225,500. In lieu of a 10% down payment, Ms. Sinclair accepted 5% down at the time of the sale and a promissory note from the Fulwiders for the remaining 5%, due in four years. The Fulwiders also agreed to make monthly interest payments to Ms. Sinclair at 10% interest until the note expires. The Fulwiders obtained a loan from their bank for the remaining 90% of the purchase price. The bank in turn paid the sellers the remaining 90% of the purchase price, less a sales commission of 6% of the purchase price, paid to the sellers' and the buyers' real estate agents. (d) Find the Fulwiders' monthly interest-only payment to Ms. Sinclair. (Round your answer to the nearest cent.)$ (e) Find Ms. Sinclair's total income from all aspects of the down payment (including the down payment, the amount borrowed under the promissory note, and the monthly payments required by the promissory note).$ (f) Find Ms. Sinclair's net income from the…

Ted is an investor and has purchased an IIP for the original price of $984.31767830979. For your convenience, the original information regarding IIP's has been repeated below.   Customers pay $984.31767830979 to buy an IIP. The IIP will pay out $37 at the end of each year for 12 years The IIP will pay out a further single payment of $1,000 after 12 years There are no further payments after this single payment at time 12. a. Suppose Ted holds on to the IIP for the full 12 years. Ignoring time value of money, what is the profit he receives on an IIP? (This can be regarded as profit for tax purposes).

Anna owns an investment property in Sai Kung for many years which has been rented out at $30,000 per month. She holds a non refundable rental deposit of $90,000. In the year of assessment 2023/24, she was able to collect rent for the first three months only. She finally repossessed the property and rented the property on 1 February 2024 at a new rent of $20,000 per month. Rates and management fees paid by Anna during the year was $36,000 and $24,000 respectively. What is the net assessable value for property tax purposes for the year of assessment 2023/24?Question 21Select one: a. $192,000 b. $144,000