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A family currently live in an apartment whose monthly rent is $950. They are thinking of buying a house which would cost $220,000. They plan to live in this house for 5 years and sell it at the end of the 5th year. They would put a downpayment of $20,000 and finance the balance through a mortgage at 3.5% interest rate. The mortgage is to be repaid in 5 annual installments (which include both principal and interest) at the end of each year for the next 5 years The house will have the following additional expenses: annual maintenance: $1500; Property taxes:$5500; Insurance: $1200. Assume they are in tax bracket of 20% and the price of home, rent and expenditure increases by 2.5% per year. Their opportunity cost or required rate of return is 5% per year. Note that property taxes are tax deductible and there no tax payable on capital gains. Use annual compounding for amortization schedule of mortgage. Calculate the rent saved during year 4.
The demand for solvent, one of numerous products manufactured by heyward Industries Inc., has dropped sharply because of recent competition from a similar product. The company’s chemists are currently completing tests of various new formulas, and it ..
question purple haze machine shop is considering a four-year project to enhance its production efficiency. buying a new
start that business, what amount of gain each person is required to identify under business if formed as C, S , and LLC corporation?
questionlessee accounting with payments made at starting of yearadden company starts a lease agreement dated january 1
Prepare the Current Liabilities section of Kruses 2014 balance sheet - Compute Kruses working capital.
If customers attempt to sell more shares of a stock or spend more money than they have in their account, what would be best control method to prevent this problem?
The direct writeminus−off method records Uncollectibleminus−Account ?Expense. n quickbooks, to comment on a report, you must ___.
Amadeus Manufacturing makes and sells three component products used in conventional conveyor belt and automated transport systems for other manufacturing firms. Their three products, A, B, and C, are sold for $ 90, $ 50, and $ 80, respectively. Using..
Anne purchased an annuity from an insurance company that promised to pay her $12,000 per year for the next ten years. Anne paid $94,800 for the annuity, and in exchange she will receive $120,000 over the term of the annuity. How much of the first $12..
Case study 2: ordinary income Explanations of the respective outcomes reached by the courts in the following cases which all involving sales of land I. Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) (1904) 5 TC 159 II. Scottish Austral..
If the company wishes to sell them through regular distribution channels, what unit cost figure is relevant for setting a minimum selling price? Explain.
What are the arguments for and against the different proposals to constrain prescription drug costs and Are there measures that the government could take to encourage companies to conduct research and development and still control the costs of phar..
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