Fixed Rate Mortgages
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Fixed Rate Mortgages have the same monthly principal and interest
payment during the entire time of the loan.
Roster Method [[Word Description (i.e. S is the set of states whose name begins with
A)]]
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S = {Alabama, Alaska, Arizona, Arkansas}
,Mortgage
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A Mortgage is a long-term installment loan for the purpose of buying a
home, and for which the property is pledged as security for payment.
Open end lease
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Each month you make a fixed payment based on the car's residual value.
Residual value is the estimated resale value of the car at the end of the
lease and is determined by the dealer. When the lease ends, you return the
car and make a payment based on its appraised value at that time
compared to its residual value.
Calculate the federal income tax owed by a single woman with no dependents whose
gross income is $62,000, with an adjustment of $4000, deductions as follows: 7500,
2200, 2400, 1500, and a tax credit $500
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Adjusted Gross Income = Gross income - Adjustments
= 62,000 - 4000
= 58,000
Taxable Income = Adjusted Gross Income - (Exemptions + Deductions)
= 58,000 - (Exemptions + Deductions)
= 58,000 - (3800+ 12,100)
= 42,100
, Income Tax = Tax Computation - Tax Credits
Tax Credits = 500
Tax Computation = 6550
Federal Income Tax Owed is $6055
Leasing
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Practice of paying a specified amount of money over a specified time for
the use of a product
Empty Set
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A set that contains no elements = { } or {0}
The price of a homes $195,000. The bank requires a 10% down payment and two points
at the same time of closing. The cost of the home is financed with a 30 year fixed rate
mortgage at 7.5% (Step 4 of 5).
Give this one a try later!
Give this one a try later!
Fixed Rate Mortgages have the same monthly principal and interest
payment during the entire time of the loan.
Roster Method [[Word Description (i.e. S is the set of states whose name begins with
A)]]
Give this one a try later!
S = {Alabama, Alaska, Arizona, Arkansas}
,Mortgage
Give this one a try later!
A Mortgage is a long-term installment loan for the purpose of buying a
home, and for which the property is pledged as security for payment.
Open end lease
Give this one a try later!
Each month you make a fixed payment based on the car's residual value.
Residual value is the estimated resale value of the car at the end of the
lease and is determined by the dealer. When the lease ends, you return the
car and make a payment based on its appraised value at that time
compared to its residual value.
Calculate the federal income tax owed by a single woman with no dependents whose
gross income is $62,000, with an adjustment of $4000, deductions as follows: 7500,
2200, 2400, 1500, and a tax credit $500
Give this one a try later!
Adjusted Gross Income = Gross income - Adjustments
= 62,000 - 4000
= 58,000
Taxable Income = Adjusted Gross Income - (Exemptions + Deductions)
= 58,000 - (Exemptions + Deductions)
= 58,000 - (3800+ 12,100)
= 42,100
, Income Tax = Tax Computation - Tax Credits
Tax Credits = 500
Tax Computation = 6550
Federal Income Tax Owed is $6055
Leasing
Give this one a try later!
Practice of paying a specified amount of money over a specified time for
the use of a product
Empty Set
Give this one a try later!
A set that contains no elements = { } or {0}
The price of a homes $195,000. The bank requires a 10% down payment and two points
at the same time of closing. The cost of the home is financed with a 30 year fixed rate
mortgage at 7.5% (Step 4 of 5).
Give this one a try later!
