Ontario Canada, there must be a reason why they do not want to renew it. Are you in default ? What circumstances do you have that made the lender reject your renewal. Could it be that what you owe is higher than what the value of the property is ? If you can tell me the reason, I may be able to give you a more definite course of action - email me victor_catalan@centum.ca

You must make sure when telling the agent at the bank that is doing your deal that you do not want to pay multiple CMHC fees . If they over look thsi it will costs you thousands. If done correctly, you will only pay CMHC fees on the difference between the new and current mortgage being PORTED.

Porting is for you if you get better rates in doing so. Porting is carrying over the contract to the new property. If you sell the current house with the equity and apply a new mortgage, you will be able to save on payments especially if the rates are lower now. You can then have a substantial down payment on the smaller house, have a lower rate mortgage and hopefull have some cash left.

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Ct1 actuarial science question 1 a) as of september 2009, for loans of between £10,000 and £25,000, the royal bank of scotland (rbs) typically charges an effective annual rate of interest (also known as the “annual percentage rate” or apr) of 11.4%. calculate the level monthly repayment for a loan of £10,000 which is to be repaid over 5 years. [3] b) for a loan of £5,000, repayable monthly in arrears over 5 years, the level monthly repayment required is £111.68. and, for a loan of £1,000, repayable monthly in arrears over 5 years, the level monthly repayment required is £26.26. calculate the apr (rounded to the nearest 0.1%) for each of these smaller loan amounts. note: you may want to use the “solver” function in excel to help here. [4] c) give two possible reasons why the apr decreases as the amount of the loan increases and briefly explain1 your answer in each case. [4] d) alternatively, give one reason why you might expect the apr to increase as the amount of the loan increases. [2] e) the rbs website states that these quotes are “for illustration purposes only” and that “the actual rate you will be charged will depend on an assessment of your individual circumstances”. give five distinct examples of “individual circumstances” that may result in the apr charged for a loan being higher than the “typical” rates quoted above and explain briefly why in each case. [10] f) alternatively, homeowners may be able to borrow similar amounts at a significantly lower apr. explain briefly why this is the case. [2] [total 25] 1 according to the dictionary, “explain” means “to make clear the cause or reason of” ... please bear this in mind when giving your answer to this and other questions! question 2 you are interested in buying a house costing £200,000 and have a maximum deposit of £50,000. thus, you need to find a mortgage for £150,000, which you intend to repay over a 25-year period, and you have narrowed the choice down to the following possibilities: 1) a five-year fixed-rate repayment mortgage from lloyds tsb. as of october 2009, this is based on a fixed-rate of interest of 5.89% per annum convertible monthly for the first five years. at the end of this period, the rate of interest (again, convertible monthly) changes to the bank’s standard variable rate (which is defined to be 2% above the then current bank of england base rate – which, as of october 2009, is equal to 0.5% per annum). in addition, there is a product fee of £995, which is added to the initial mortgage amount (although, in practice, can be paid in full at the outset). 2) a life-time tracker repayment mortgage from hsbc. as of october 2009, this is based on a variable rate of interest (convertible monthly) equal to the current bank of england base rate – of 0.5% per annum – plus 2.99%. in addition, there is a booking fee of £599, which must be paid as a lump sum at the outset. a) for each of the two mortgages above, calculate: (i) the initial monthly repayment amount, in addition, for the five-year fixed-rate mortgage, calculate the expected monthly repayment amount after the end of the five-year fixed-rate period. (ii) the total cost of the loan (i.e. the total amount repaid including the fees), (iii) the apr on each loan (expressed as the effective rate of interest per annum, quoted to the nearest 0.1%). [18] b) despite the fact that the five-year fixed-rate mortgage is considerably more expensive, explain the key advantage in choosing this mortgage over the life-time tracker mortgage. also, comment on why such an advantage might be particularly attractive in the current economic climate. [4] c) whilst there are a few mortgage packages available in the market with a fixed-rate period of longer than five years (indeed, the maximum currently available is 15 years), such arrangements are unusual. give two possible reasons why longer term fixed-rate mortgages are so uncommon. [4] d) if the loan-to-value ratio (lvr), defined as the ratio of the initial mortgage amount to the value of the property, is greater than 75%, then the rate of interest charged by lloyds tsb during the five-year fixed-rate period is increased from 5.89% per annum to 6.99% per annum (with the rate of interest after this period remains unchanged). explain why this is the case. [2] e) alternatively, for the life-time tracker mortgage, the initial booking fee of £599 can be avoided by choosing a nil-fee version with a rate of interest convertible monthly equal to the bank of england base rate plus 3.29% for the entire term of the loan. discuss the advantages and disadvantages of the choosing this option over the standard lifetime tracker mortgage. [4] f) a friend of yours, who has little financial knowledge, has suggested that you could save a lot of money by taking out an interest-only mortgage. he recommends a life-time tracker mortgage from ing direct, where the rate of interest convertible mont

So you can't use computers? These are all elementary calculations. I still have my old HP 12C from about 30 years ago, but sadly the batteries are run down. Surely there is a financial calculator and accompanying instruction docs that cover just this sort of problem.

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I am getting a tax refund of $6,200. i have a lot of debt. medical bill $345 (0% interest) loan from a friend $600 (0% interest, this will be paid off first when i get the money.) credit card $5715 (10.99% interest) mortgage $63,333 (5% interest, just bought a house) i have read a lot of different articles about saving and budgeting. majority of them talk about having an emergency fund of at least $1,000. some say to use 10% of the refund on something impractical such as a vacation or whatever. i'm really undecided as to what to do. store card $2,040 (0% interest until april 2011, then interest is 25.99%) i have no savings and no retirement. i am 27 years old.

You need to pay off these bills before you can do something impractical. 1. Pay off the friend. Balance of refund: 5,855 2. Pay off the medical bill. Balance 5,510 3. Pay 1,000 to the store card. Balance 4,510 (That will leave you a balance of 1,040 to be paid off in 10 payments of 104.00 which is before the April 2011 deadline. You do not want to wait until April!) 4. Pay 1,000 to the credit card. Balance 3,510. (Keep making above minimum payments.) Take the 3,500 (you can splurge with the 10) and start your emergency fund. Best thing I have read is to have 3 months of bills i.e. mortgage, car, insurance, utilities and such in the bank at all times. 6 months is probably optimal, but since you just bought a house, you might need some cash. Good luck.

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I own a motel with 24 rooms. the economy is weak, so i've been forced to drop rates. right now, i have 16 rooms that are $49.99 per night. another 8 rooms are $59.99 per night. aaa, aarp and military get 10% off. two years ago, i was getting $10 per room more than now. typically i have 50% occupancy. two years ago, more like 75%. typical week i take in about $4,200. my property tax is over $26,000 (3.5%) per year, or $500 per week. my mortgage is over $1,000 per week. utilities average about $500 per week. that's $2,000 per week in costs so far. i pay another $1,920 in wages to clerks, maids, etc. six people making $8 per hour. i do plenty of work myself... what's in it for me? about $300 per week! i average about the same rate as the maids do! i own the place! hopefully this situation will not last forever, but 2008 has been horrendous. if i could cut wages by $100 per week, i could earn enough to replace my 1997 car, put some money into the economy. i don't believe any of my staff own a car. only 2 have driver's licenses. problem is they all earn within 50-75 cents of minimum wage. there's no room to cut. too many want so much more. if minimum wage was lower, these people would get a dose of reality, the owner can't make the same as the lowest paid worker! something is very wrong!

There should be no minimum wage. That is price fixing ,socialism, and communism. That is what our government ran school system taught us to hate....remember? EDIT: umm, hey 'genious' below me, it is price fixing because the government is sayin you must pay this price to hire labor . Price fixing is what communists do. Kind of like the price fixing of the stock market that is costing $9 trillion dollars. Free markets will decide what prices people will work for, or organized labor to decide what you will work for. The government should have no authority to intervene in free-market systems by FORCING someone with criminal charges to pay a certain price. Which is what 'minimum wage' is. Furthermore, the government came in during the 'Great Depression' and set prices on goods and services.....COMMUNISTS.

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Selected year-end financial statements of cadet corporation follow. (all sales were on credit; selected balance sheet amounts at december 31, 2008, were inventory, $56,900; total assets, $219,400; common stock, $85,000; and retained earnings, $52,348.) cadet corporation income statement for year ended december 31, 2009 sales $456,600 cost of goods sold 297,450 gross profit 159,150 operating expenses 99,400 interest expense 3,900 income before taxes 55,850 income taxes 22,499 net income $33,351 cadet corporation balance sheet december 31, 2009 assets liabilities and equity cash $20,000 accounts payable $21,500 short-term investments 8,200 accrued wages payable 4,400 accounts receivable, net 29,400 income taxes payable 3,700 notes receivable (trade)* 7,000 long-term note payable, secured by mortgage on plant assets 67,400 merchandise inventory 34,150 common stock 85,000 prepaid expenses 2,700 retained earnings 66,750 plant assets, net 147,300 total liabilities and equity $248,750 total assets $248,750 * these are short-term notes receivable arising from customer (trade) sales. required: compute the following: (do not round interim calculations. round your answers to 1 decimal place. omit the "%" sign in your response.) 1. current ratio to 2. acid-test ratio to 3. days' sales uncollected days 4. inventory turnover times 5. days' sales in inventory days 6. debt-to-equity ratio to 7. times interest earned times 8. profit margin ratio % 9. total asset turnover times 10. return on total assets % 11. return on common stockholders' equity %

Go to the source below and type in whatever ratio you are looking for into the search box. It will explain each one and show you how it's calculated.

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Bobo and mimi palin, a married couple, reported the following information for 2009. bobo palinhusbandage 50s.s. # 222-33-1111 mimi palinwifeage 54s.s. # 888-55-7777 kiwi palindaughterage 16s.s. # 444-11-8888 banana palinsonage 13s.s. # 111-99-1111 tangerine palindaughterage 17s.s.# 333-44-5555 the couple reside at 444 fruit lane, carbondale, illinois 62901. the couple have three qualified dependants, kiwi, banana and tangerine. during 2009, all 3 children lived with their parent, had no income and were full time students. bobo was not employed full time during 2009 (he desires to be supported by his wife). during 2009, bobo worked part-time at the local golf course. he earned $7,000 in wages and $5,000 in tips during 2009. bobo had a total of $800 in federal taxes withheld from his paycheck at the golf course. bobo also received $6,000 in unemployment compensation during the winter months. bobo earned $200 in taxable interest income from a checking account he has held for 5 years at first southern bank. bobo’s aunt, cantelope church, gave him $20,000 cash for his birthday. during a boys weekend at the local casino, bobo won $7,000 cash playing blackjack. both bobo and mimi funded their i.r.a. $3,000 each. mimi was employed full time during 2009 as a secret shopper employed by university mall. she earned $40,000 in wages from her job and also received a $20,000 bonus at the end of 2009 for her exceptional work in arresting shoplifters. she received a w-2 form from her employer which included her wages and bonus. federal taxes withheld from her employer and reported on the w-2 form was $10,000. mimi’s grandmother died during 2009 and she received $30,000 in life insurance proceeds from a policy held by her grandmother and payable to mimi as the primary beneficiary. mimi also had $500 in qualified student loan interest paid in 2009. the couple reported the following itemized deductions for the year: qualified mortgage interest $3,567, and residential property taxes $3,200. mimi had taxable interest income of $500 from a savings account she has held for 10 years at the bank of carbondale. bobo served as a juror in 2009 at the jackson county courthouse and received a check for $200 for his services as a juror. prior to her marriage to bobo, mimi was married to a man named fabio flang, s.s. # 123-45-6789. per court order, in 2009 mimi paid fabio alimony payments totaling $6,000. finally, none of the children received any gifts over $100 during the year (the parents are not fun and do not recognize birthdays, christmas, easter, valentines day or anniversaries). i must compute for the tax liability. and also am running into trouble making the 1040 form.

And your specific question is? All I see is a general homework question that asks you to delete extraneous information and fill out a 1040. I do have an issue with Bobo's tips since they don't appear to have been reported to his employer.

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Information for the palin family for 2009 bobo and mimi palin, a married couple, reported the following information for 2009. bobo palinhusbandage 50s.s. # 222-33-1111 mimi palinwifeage 54s.s. # 888-55-7777 kiwi palindaughterage 16s.s. # 444-11-8888 banana palinsonage 13s.s. # 111-99-1111 tangerine palindaughterage 17s.s.# 333-44-5555 the couple reside at 444 fruit lane, carbondale, illinois 62901. the couple have three qualified dependants, kiwi, banana and tangerine. during 2009, all 3 children lived with their parent, had no income and were full time students. bobo was not employed full time during 2009 (he desires to be supported by his wife). during 2009, bobo worked part-time at the local golf course. he earned $7,000 in wages and $5,000 in tips during 2009. bobo had a total of $800 in federal taxes withheld from his paycheck at the golf course. bobo also received $6,000 in unemployment compensation during the winter months. bobo earned $200 in taxable interest income from a checking account he has held for 5 years at first southern bank. bobo’s aunt, cantelope church, gave him $20,000 cash for his birthday. during a boys weekend at the local casino, bobo won $7,000 cash playing blackjack. both bobo and mimi funded their i.r.a. $3,000 each. mimi was employed full time during 2009 as a secret shopper employed by university mall. she earned $40,000 in wages from her job and also received a $20,000 bonus at the end of 2009 for her exceptional work in arresting shoplifters. she received a w-2 form from her employer which included her wages and bonus. federal taxes withheld from her employer and reported on the w-2 form was $10,000. mimi’s grandmother died during 2009 and she received $30,000 in life insurance proceeds from a policy held by her grandmother and payable to mimi as the primary beneficiary. mimi also had $500 in qualified student loan interest paid in 2009. the couple reported the following itemized deductions for the year: qualified mortgage interest $3,567, and residential property taxes $3,200. mimi had taxable interest income of $500 from a savings account she has held for 10 years at the bank of carbondale. bobo served as a juror in 2009 at the jackson county courthouse and received a check for $200 for his services as a juror. prior to her marriage to bobo, mimi was married to a man named fabio flang, s.s. # 123-45-6789. per court order, in 2009 mimi paid fabio alimony payments totaling $6,000. finally, none of the children received any gifts over $100 during the year (the parents are not fun and do not recognize birthdays, christmas, easter, valentines day or anniversaries).

See IRS form 1040 and it's instructions. Ignore the $30K of life insurance money it is not taxable. Ignore the $20K gift from the church - the church must account for it. The $6K in alimony is deductible. The $3K to their retirement accounts is deductible. (possibly missing some info on this). $500 student loan interest is deductible. $7K in winnings is income on line 21. Sch A deductions are too little to make Sch A a factor. Enter the income from the W2's and account for the standard deduction and exemption amounts and you are ready to calculate their tax. Compare this to their with holding and you will get refund or balance due. This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent

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7.you have written a check for $39.95. you have recorded it in your check register. what amount would you record using the quick method? (a).$39 (b).$4o (c).$41 (d).$39.90 8.you have written a check for $43.75. what would you record using the quick method? (a).$43 (b).$43.70 (c).$43.80 (d).$40 9.you make $32,500. your state tax rate is 1 1/2%. you have two allowances (exemptions). if you double the rate, you will double the tax. (a). true (b). false 1o.your gross weekly pay is $750.00. your medicare rate is 1.45%. what is your medicare deduction? (a).$10.88 (b).$108.75 (c).$11.00 (d).$10.80 11.a charge card charges a minimum of $10.00 or 2% of the oustanding balance. your oustanding balance is $400.00. what must you pay? (a).$8.00 (b).$10.00 (c).$400.00 (d).$20.00 12.your unpaid balance is $2,750.00. your card has a minimum of $10.00 or 2% of the oustanding balance. what must you pay? (a).$10.00 (b).$55.00 (c).$27.50 (d).$15.00 13.a credit card charges a daily periodic rate of .05318%. what are the monthly and yearly rates? (a). 2.34% monthly and 24.59% yearly (b). 1.59% monthly and 19.14% yearly (c). 1.43% monthly and 17.16% yearly (d). 1.85% monthly and 18.50% yearly 14.three pounds of hamburgers for $2.97. the unit price is _? (a).$2.97 (b).$1.00 (c).$1.99 (d).$0.99 15.change 65% to a fraction and then to a decimal. (a). 13/20 and 0.65 (b). 63/100 and 0.65 (c). 11/20 and 0.65 (d). none of these 16.if you are using a mortgage to buy a house, then you must have a down payment. (a). true (b). false monthly payment for a $1,000 loan length of lean in years annual interset rate: 20 25 30 5.00%: $6.60 $5.85 $5.37 5.50%: $6.88 $6.14 $5.68 6.00%: $7.16 $6.44 $6.00 17.you are borrowing $90,000.00 at an annual rate of 5% for 20 years. what is the total amount you will pay? use the monthly payment table at the top! 18.according to books on household budget, you should spend 20-25% of your income on housing. (a). true (b). false 19.calculate the simple interest earned on $2,000.00 saved at 11% apr for 1 year. (a).$200.00 (b).$210.00 (c).$220.00 (d).$230.00 20.calculate the simple interest earned on $1,500.00 saved for 8 months at 6% annual interest. (a).$90.00 (b).$60.00 (c).$30.00 (d).$40.00 21.calculate the simple interest earned on $1,500.00 saved for 55 days at 2 1/2% apr. (a).$15.65 (b).$10.65 (c).$5.65 (d).$12.65 22.you buy cisco stock at $17 a share and sell at $14 a share. (a).loss of $3 a share (b).profit of $3 a share 23.you have made $3,000.00 on the sale of your stock. the original cost of the stock $15,000.00. find the percentage of increase. (a). 20% (b). 10% (c). 5% (d). 3% 24.you purchased shares for $15 each. they are paying a $0.75 dividend. what is the annual yield? (a).2% (b).3% (c).4% (d).5% 25.you have purchased a $10,000.00 bond at 85% paying 7% apr. calculate cost of bond. (a).$9,500.00 (b).$8,500.00 (c).$7,500.00 (d).$6,500.00 26.you have purchased a $10,000.00 bond at 85% paying 7% apr. calculate interest. (a).$900.00 (b).$800.00 (c).$700.00 (d).$600.00 27.you have purchased a $10,000 bond at 85% paying 7% apr. calculate the yield. (a).8.23% (b).7.23% (c).6.23% (d).5.23% 28.you are paying $1,000.00 a month on rent and you earn $36,000.00 a year. what percent of your income are you spending on rent? (a).50% (b).40% (c).33% (d).22% 29.60% of what amount is 720? (a).1,500 (b).1,400 (c).1,300 (d).1,200 30.what percentage of 800 is 80? (a).10% (b).20% (c).30% (d).40% 31.70% of 400 is what amount? (a) 28 (b) 2.8 (c) 280 (d) 0.28 32.a lending institution has informed you that they will lend you 350% of your income. your income is $45,000.00. what amount will they lend you? (a).$157,000.00 (b).$157,500.00 (c).$158,500.00 (d).$159,000.00 33.change 225% to a mixed number. (a).2 1/4 (b).22 1/2 (c).9/7 (d).225 34.find the average: $27,500, $28,500.00, $29,500.00, $30,500.00, $31,500.00 (a).$31,500.00 (b).$29,500.00 (c),$29,000.00 (d).$31,000.00 35.you budgeted $360.00 for one year of dry-cleaning. find the monthly average. this month you spent $25.00 on dry-cleaning. are you under budget? (a). yes (b).no 36.fixed expenses do not vary from month to month? (a).true (b).false 37.annual expenses include car and life insurance and real estate taxes. (a).true (b).false 38.your total monthly expenses is the sum of monthly living expenses plus monthly fixed expenses. (a).true (b).false 40.to find a sales tax of 5% on a puchase of $90.00 using the proportion method you would write the following: 6/100 = st/$90 (a).true (b).false

Are you sure you couldn't fit any more questions in there?

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1.) write as a reduced fraction: 56% @ 14/25 28/50 56/100 2.) write as a reduced fraction: 875% 875/100 8 75/100 8 3/4 3.) write as a reduced fraction: 23% 23/10 @ 23/100 23/1000 4.) a pizza is divided into 8 equal sections. 5 of these sections have been eaten. what percent of the pizza has been eaten? 33 1/3 % 66% 62.5 % 5.) write the fraction as a percent: 2/3 66.67% .667% 23.33% 6.) write the fraction as a percent: 17/20 17% 8.5% 85% 7.) 250% is equivalent to the decimal 2.5 25 @ 0.25 8.) write as a decimal: 456% 4.56 45.6 456 9.) write as a decimal: 96.3% 9.63 96.3 0.963 10.) 0.16 is equivalent to the percent 1.6 % 16% 160% 11.) write as a percent: .123 12.3% 1.23% 123% 12.) write as a percent: 4.15 4.15% 41.5% 415% 13.) calculate 72% of 40 288 2.8 28.8 14.) calculate 23% of 99 430.43 22.77 76.7 15.) a lending institution requires a 15% down payment of the purchase price of a home. find the required down payment for a home costing $250,000. $3,750 $37,500 $375.00 16.) a pair of sneakers costs $43.00. they are on sale today for 20% off. sales tax in our state is 6%. what is the total bill? $36.46 $9.12 $33.88 17.) bill and mandy are finally able to purchase their own home; they've been renting for so long! the home costs $150,000. they will be borrowing the money through a mortgage company, but they must first pay a down-payment of 20%. after their down-payment, how much will they owe on the house? $30,000 $120,000 $180,000 18.) there are 1,250 members of our church. 10% of them are children. how many of our members are children? 25 12.5 125 19.) write as a reduced fraction: .425 17/40 425/100 85/200 20.) write as a reduced fraction: 5.26 5 26/100 13/50 5 13/50

so i assume these are multiple choice... so here goes: 1.) Write as a reduced fraction: 56% @ 14/25 2.) Write as a reduced fraction: 875% 8 3/4 3.) Write as a reduced fraction: 23% @ 23/100 4.) A pizza is divided into 8 equal sections. 5 of these sections have been eaten. What percent of the pizza has been eaten? 62.5 % 5.) Write the fraction as a percent: 2/3 66.67% 6.) Write the fraction as a percent: 17/20 85% 7.) 250% is equivalent to the decimal 2.5 8.) Write as a decimal: 456% 4.56 9.) Write as a decimal: 96.3% 0.963 10.) 0.16 is equivalent to the percent 16% 11.) Write as a percent: .123 12.3% 12.) Write as a percent: 4.15 415% 13.) Calculate 72% of 40 28.8 14.) Calculate 23% of 99 22.77 15.) A lending institution requires a 15% down payment of the purchase price of a home. Find the required down payment for a home costing $250,000. $37,500 16.) A pair of sneakers costs $43.00. They are on sale today for 20% off. Sales tax in our state is 6%. What is the total bill? $36.46 17.) Bill and Mandy are finally able to purchase their own home; they've been renting for so long! The home costs $150,000. They will be borrowing the money through a mortgage company, but they must first pay a down-payment of 20%. After their down-payment, how much will they owe on the house? $120,000 18.) There are 1,250 members of our church. 10% of them are children. How many of our members are children? 125 19.) Write as a reduced fraction: .425 17/40 20.) Write as a reduced fraction: 5 13/

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11: write as a percent: .123 12.3% 1.23% 123% 12: write as a percent: 4.15 4.15% 41.5% 415% 13: calculate 72% of 40 288 2.8 28.8 14: calculate 23% of 99 430.43 22.77 76.7 15: a lending institution requires a 15% down payment of the purchase price of a home. find the required down payment for a home costing $250,000. $3,750 $37,500 $375.00 16: a pair of sneakers costs $43.00. they are on sale today for 20% off. sales tax in our state is 6%. what is the total bill? $36.46 $9.12 $33.88 17: bill and mandy are finally able to purchase their own home; they've been renting for so long! the home costs $150,000. they will be borrowing the money through a mortgage company, but they must first pay a down-payment of 20%. after their down-payment, how much will they owe on the house? $30,000 $120,000 $180,000 18: there are 1,250 members of our church. 10% of them are children. how many of our members are children? 25 12.5 125 19: write as a reduced fraction: .425 17/40 425/100 85/200 20: write as a reduced fraction: 5.26 5 26/100 13/50 5 13/50

11. 12.3% 12. 415% 13. 28.8 14. 22.77 15. 37500 16. $36.45 17. $120000 18. 125 19. 17/40 20. 5 13/50 hope this helps