The selling price of a house is $175,000. A 5% down payment is required. The taxes are 1350 per year.
1. What is the monthly payment for a 15 and 30 year mortgage?
(15 year rate is 3.625% and the 30 year rate is 4.125%.)
2. Stacey's Sports received authorization to issue 100,000 shares of $2 par value common stock.
Stacey's Sports issued 5000 shares of common stock for cash at $15 per share.
Stacey's Sports issued 200 shares preferred stock $100 par value 5% cumulative @ $105.
Stacey's Sports purchased it's own stock on the open market or $25 a share 100 shares.
Stacey's Sports declared a 10% stock dividend on common stock. The stock was selling for $20 per share.
Stacey's Sports declared dividends of $25,000.
How much did each classification of stock receive? What was the dividend per share for each class?
1. What is the monthly payment for a 15 and 30 year mortgage?
(15 year rate is 3.625% and the 30 year rate is 4.125%.)
2. Stacey's Sports received authorization to issue 100,000 shares of $2 par value common stock.
Stacey's Sports issued 5000 shares of common stock for cash at $15 per share.
Stacey's Sports issued 200 shares preferred stock $100 par value 5% cumulative @ $105.
Stacey's Sports purchased it's own stock on the open market or $25 a share 100 shares.
Stacey's Sports declared a 10% stock dividend on common stock. The stock was selling for $20 per share.
Stacey's Sports declared dividends of $25,000.
How much did each classification of stock receive? What was the dividend per share for each class?
