Broker betty is preparing a closing statement on the sale of a house for $177,000. betty is holding a $3,000 earnest money deposit and the balance of the buyer’s down payment is $22,000. the balance of the purchase price will be financed by a new mortgage, and the buyer is paying 2 points loan origination fee. the seller’s broker will receive a 6.5% commission and the buyer will pay $2,250 in miscellaneous closing expenses. real estate taxes for the current year are $2,050. the closing will take place on june 30. how much cash will the buyer have to bring to closing?

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u.s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.

Rahm's credit card issuer calculates interest based on the outstanding balance at the end of the last billing period. what is this method of calculating interest on a credit card called?