The buyers are assuming the seller's loan. The closing is on June 15th. The loan balance is $60,000 and the interest rate is 5%. Interest is paid at the end of the month. At the closing the sellers will owe the buyers how much in prorated interest for the month
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The buyers are assuming the seller's loan. The closing is on June 15th. The loan balance is $60,000 and the interest rate is 5%. Interest ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
George wants to collect funds to open his own bakery from his family. He needs an accurate estimate of how much money he would require to run the bakery for at least six months. He has to buy a shop (costing $3,500) and buy an oven (costing $600).
Answers (1)
Metro Inc. has two production departments (Lamination and Molding) and three service departments (Human Resources, Technology Support, and Purchasing). Service department costs are allocated to production departments using the direct method.
Answers (1)
What is the simplest change that can be made to the budget to produce more savings next month? Add to fixed expenses. Decrease food expenses. Reduce rent payments. Increase total income.
Answers (1)
What occupational group falls under the service occupation cluster
Answers (1)
Farmers Animal Farm reached its maximum animal capacity and the board needs to decide whether to expand building capacity or to close the nonprofit. Farmers Animal Farm has reached which stage of the nonprofit lifecycle? a. Produce and sustain. b.
Answers (1)
New Questions in Business
Adonis Corporation issued 10-year, 8% bonds with a par value of $200,000. Interest is paid semiannually. The market rate on the issue date was 7.5%. Adonis received $206,948 in cash proceeds. Which of the following statements is true? A.
Answers (1)
Which type of group leadership has a communication pattern that flows from the top down?
Answers (1)
Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed 4 pounds of pork and 2 pounds of tomatoes.
Answers (1)
On March 14, Zest Co. accepted a 120-day, 6% note in the amount of $5,000 from AZC Co., a customer. On the due date of the note, AZC dishonors the note and fails to pay.
Answers (1)
A building with a book value of $54,000 is sold for $63,000 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of a.
Answers (1)