Greg Jones lives in Augusta, Georgia, and has the opportunity to rent his condominium, during the next Masters golf tournament. He has two offers-one to rent for 10 days at $500 per day and the other to rent for 16 days at $400 per day. Rental expenses will be negligible. What is your advice to Greg
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Greg Jones lives in Augusta, Georgia, and has the opportunity to rent his condominium, during the next Masters golf tournament. He has two offers-one to rent for 10 days at $500 per day and the other to rent for 16 days at $400 per day. Rental expenses will be negligible. What is your advice to Greg?
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- Derek decides to buy a new car. The dealership offers him a choice of paying $518.00 per month for 5 years (with the first payment due next month) or paying some $28,412.00 today. He can borrow money from his bank to buy the car. What interest rate makes him indifferent between the two options? SubmitJoe bob wants to buy a car and will need to take out a loan in order to make the purchase. His current monthly income is 3,500 per month. His mortgage payment is 900 per month, and his student loan payment is 350 per month according to the affordability formulas given can he afford to take out another loan? when should he follow the affordability formulas? In what case should he not? how could taking out the car loan impact his other priorities? what is the affordability formula I need to use as wellJoe wants to own a home in the future. He asks you describe an advantages and disadvantage of a FRM versus an ARM. He then asks you to describe the advantages and disadvantages of a 15-year loan versus a 30-year loan. He also wants to know how the portion of the home payment that comprises interest changes over the years assuming he takes out an FRM. Is there anything he can do to reduce the total amount he’ll pay for the home? What else would be added to his monthly mortgage payment? What are three benefits of home ownership? What are three benefits of renting?
- Would Qualifying an Indorsement Be Ethical? Suppose you have taken a promissory note for $3,500 payable in 12 months with interest at 10 percent as payment for some carpentry work you did for a friend. You have some reason to believe the maker of the note is in financial difficulty and may not be able to pay the note when it is due. You discuss with an elderly neighbor the possibility of her buying the note from you as an investment, and she agrees to buy it from you for $3,000. Would it be ethical for you to indorse the note with a qualified indorsement ("without recourse")?You are a mortgage agent and a client approaches you for income of $75,000 and willing to buy a home of 950,000 in Brampton. His job is in Brampton so he does not want to leave the place. In my view his income will not be sufficient to afford the mortgage of the house he wants. Can you come out with a best alternative for him. You are supposed to provide links of all the homes you are searching for him, all the calculations should be on a word file submitted here. He is short of funds and you may search suitable private lending options for him too. You are supposed to submit a detailed solution here. His maternal cousin can give him a gift of $10,000 for down payment but will this gift qualify legally? If cousin can't make gift, who is authorized to give gift money.You have been transferred to New Mexico for your post-graduate internship. You and your spouse have 2 children. You decide you need a home. The current owner of the home will sell it to you for $120,000, or you can rent it for $900 per month on a 1-year lease. You believe you could resell the home after 1 year for $130,000. Should you purchase the home or rent it?
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- Ahmed is considering his plans for the coming weekend. He is currently working as a marketing specialist in a big advertising company. He normally spends the weekend with family but this weekend he is thinking of going on a camping trip that would cost him about $1,000. At the same time, his manager asked him whether he can help during the weekend and the company will be willing to pay him an overtime bonus of $2,500. If Ahmed goes on the camping trip, he can manage to provide a number of quick consultancy services that would earn him around $1,900. If Ahmed decided to work during the weekend what would be the incremental revenue of that decision ($)? O a. 900 O b. None of the given answers Oc. 2,500 O d. 1,000 O e. 1.900Ahmed is considering his plans for the coming weekend. He is currently working as a marketing specialist in a big advertising company. He normally spends the weekend with family but this weekend he is thinking of going on a camping trip that would cost him about $1,900. At the same time, his manager asked him whether he can help during the weekend and the company will be willing to pay him an overtime bonus of $1,000. If Ahmed goes on the camping trip, he can manage to provide a number of quick consultancy services that would earn him around $2,500. If Ahmed decided إنهاء المحاولة to go on the camping trip what would be the incremental cost of that ?($) decision 1,900 .a 2,500 .b 1,000 .C None of the given answers 600 .eAfter visiting several automobile dealerships, Richard selects the used car he wants. He likes its $12,900 price, but financing through the dealer is no bargain. He has $2,500 cash for a down payment, so he needs an $10,400 loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $10,400 for a period of four years at an add-on interest rate of 10 percent. What is the total interest on Richard’s loan? Note: Do not round intermediate calculations. Round your answer to the nearest whole number. What is the total cost of the car? Note: Do not round intermediate calculations. Round your answer to the nearest whole number. What is the monthly payment? Note: Do not round intermediate calculations. Round your answer to the nearest whole number.…