1 if a cake dealer offers to sell you an oven and finance, Ask an Expert

Finance

1. If a cake dealer offers to sell you an oven and finance it for 60 months with monthly payments of $429 and the market rate for loans is 6.6%, how much is the cake dealer charging you for the oven? (Round to the nearest dollar)

2. Suppose a single man has an annual income of $84,000. Interest rates are at 4% for a 30 year LPM (factor = .0047742), lenders require a down payment of 5%, PMI costs .78% of the OLB (divide by 12 for monthly payment) and insurance and taxes amount to 3.2% of the home value annually. He pays $1,550 per month to cover other debt obligations. Using a back ratio (DTI ratio) of 43%, he can afford a home priced at:

A. $249,600

B. $210,278

C. $185,936

D. $179,809

E. $129,171

2. A beta coefficient reflects the response of a security’s return to:

an unsystematic risk.

idiosyncratic risk.

a systematic risk.

the risk-free rate.

the market rate of return.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92706886

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