{"id":7058,"date":"2021-10-12T07:33:38","date_gmt":"2021-10-12T07:33:38","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/ben-brown-bought-a-home-for-225000-he-put-down-20-the-mortgage\/"},"modified":"2021-10-12T07:44:08","modified_gmt":"2021-10-12T07:44:08","slug":"ben-brown-bought-a-home-for-225000-he-put-down-20-the-mortgage","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/ben-brown-bought-a-home-for-225000-he-put-down-20-the-mortgage\/","title":{"rendered":"ben brown bought a home for $225,000. he put down 20%. the mortgage"},"content":{"rendered":"
\n

1. Ben Brown bought a home for $225,000. He put down 20%. The mortgage is at 6 1\/2% for 30 years. By using the table in the handbook, his monthly payment is __________.<\/span><\/p>\n

$1,319.04<\/p>\n

$1,319.40<\/p>\n

$1,216.80<\/p>\n

$1,139.40<\/p>\n

2. Given the following: FIFO method – 16 units left in inventory
Jan. 1 Beginning inv 9 units at $105 = $ 945
Apr. 13 Purchased 14 units at $120 = $1,680
Sep. 17 Purchased 20 units at $130 = $2,600
Ded. 10 Purchased 14 units at $140 = $1,960<\/p>\n

The cost of goods sold is __________.<\/p>\n

$5,000<\/p>\n

$10,000<\/p>\n

$4,965<\/p>\n

$5,225<\/p>\n

3. Given: Sales $80,000, beginning inventory $5,000, Purchases $21,800, Purchase discounts $790, and Ending Inventory $5,100. The cost of merchandise sold from the following is __________.<\/p>\n

$21,560<\/p>\n

$20,190<\/p>\n

$20,910<\/p>\n

$21,650<\/p>\n

4. The country of Blue needs $800,000 from property tax to meet its budget requirements. The total value of assessed property in Blue is $140,000,000. What is the tax rate of Blue in mills to nearest hundredth? (Be sure to round tax rate to nearest hundred thousandths before converting to mills.)<\/p>\n

5.72<\/p>\n

57.24<\/p>\n

571.24<\/p>\n

17.50<\/p>\n

5. Angel Hart bought 190 shares of a mutual fund with a NAV of $14.10. This fund also has a load charge of 6 3\/4%. What did Angel pay for the investment?<\/p>\n

$2,697.00<\/p>\n

$2,859.50<\/p>\n

$2,895.00<\/p>\n

$2,679.00<\/p>\n

6. Given interest of $11,900 at 6% for 50 days (ordinary interest), one can calculate the principal as __________.<\/p>\n

$1,428,005.70<\/p>\n

$4,128,005.70<\/p>\n

$1,428,05.70<\/p>\n

$1,420.70<\/p>\n

7. A truck costs $8,000 with a residual value of $1,000. The truck is expected to have a useful life of 70,000 miles. By assuming the truck is driven 15,000 miles the first year, what would the depreciation expense would be?<\/p>\n

$1,714<\/p>\n

$1,500<\/p>\n

$1,174<\/p>\n

$1,505<\/p>\n

8. The difference between the monthly payments on a $120,000 home at 6 1\/2% versus 8% for 25 years is __________. (Use the table in the handbook.)<\/p>\n

$81.12<\/p>\n

$151.02<\/p>\n

$115.20<\/p>\n

$91.12<\/p>\n

9. Assume the mean useful life of a particular light bulb is 2,000 hours and is normally distributed with a standard deviation of 300 hours. The useful life of light bulbs within two standard deviations of the mean is __________.<\/p>\n

between 1,700 and 2,300 hours<\/p>\n

longer than 2,300 hours<\/p>\n

longer than 1,700 hours<\/p>\n

between 1,400 and 2,600 hours<\/p>\n

10. 9.1% of a circle graph represents __________.<\/p>\n

32.76 degrees<\/p>\n

37.26 degrees<\/p>\n

42 degrees<\/p>\n

45 degrees<\/p>\n

11. Today the price of a Jeep is $25,000. In 1970 the price was $5,000. What is the price relative?
Answer<\/p>\n

600<\/p>\n

166<\/p>\n

500<\/p>\n

400<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

1. Ben Brown bought a home for $225,000. He put down 20%. The mortgage is at 6 1\/2% for 30 years. By using the table in the handbook, his monthly payment is __________. $1,319.04 $1,319.40 $1,216.80 $1,139.40 2. Given the following: FIFO method – 16 units left in inventoryJan. 1 Beginning inv 9 units at […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-7058","post","type-post","status-publish","format-standard","hentry","category-homework-help"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/7058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=7058"}],"version-history":[{"count":1,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/7058\/revisions"}],"predecessor-version":[{"id":7086,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/7058\/revisions\/7086"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=7058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=7058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=7058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}