Project #79545 - Business Math and Stat

Mortgages and Taxes Assignment (Total 40 Points)

 

Question 1: (20 Points)

a)    You are purchasing a business building valued at $225,000. You can find a mortgage at 5% if you can put 20% down. You believe your business can support a $1,000 a month mortgage payment (not including taxes and insurance). Should you select a 25 year mortgage or a 30 year mortgage? Tell your reasons.

 

b)    If your yearly taxes for the building will be $2,500 and the insurance for the building will be $1,900 per year, what will the total of the PITI for the mortgage be?

 

 

c)    Compute what the unpaid principal balance will be after you’ve made three payments on the mortgage.

 

d)    What will the new annual taxes on the property be if the assessed valuation is 60% of purchase price and the new tax rate is 1.90 per $100 of assessed valuation?

 

Question 2: (10 Points)

 

a)    Vonte Canyon, Arizona (a fictitious city) has a new budget of $89,895,000 to pay for police, fire, schools, and government, among other expenses. The total assessed valuation (based on 60% of market value) in the city is $7,899,023,000. Find the tax rate per $1,000 of assessed valuation

 

b)    Now find the taxes on a property that has an assessed valuation of $190,500.

 

 

Question 3: (5 Points)

 

a)     Find the sales tax of a new above ground pool that you pay $10,500 for if the tax rate in your area is 8.9%.

 

b)    Find the marked price and tax for an $11 beer at the local football stadium, where the sales tax rate is 9.5%.

 

Question 4: (5 Points)

 

Research the excise tax for gasoline in the state in which you live. For example, a state may have excise taxes of between $0.283 cents per gallon to $0.363 cents per gallon, depending on the county you purchase your gas in. If the current price for a gallon of gas is $2.76, what percentage of each gallon of gas is the excise tax?

Subject Mathematics
Due By (Pacific Time) 08/17/2015 09:00 pm
Report DMCA
TutorRating
pallavi

Chat Now!

out of 1971 reviews
More..
amosmm

Chat Now!

out of 766 reviews
More..
PhyzKyd

Chat Now!

out of 1164 reviews
More..
rajdeep77

Chat Now!

out of 721 reviews
More..
sctys

Chat Now!

out of 1600 reviews
More..
sharadgreen

Chat Now!

out of 770 reviews
More..
topnotcher

Chat Now!

out of 766 reviews
More..
XXXIAO

Chat Now!

out of 680 reviews
More..
All Rights Reserved. Copyright by AceMyHW.com - Copyright Policy