Answer:
$434,780.69
Explanation:
The computation of the large the ballon payment would be is determined by using the future value formula i.e. to be shown in the attachment
Provided that
Present value = $295,000
Rate of interest = 5.9% ÷ 12 months = 0.49166%
NPER = 35 years × 12 months = 420 months
PMT = $1,350
The formula is shown below:
= -FV(Rate;NPER;PMT;-PV;type)
So, after applying the above formula, the future value is $434,780.69
Answer:
$4,000
Explanation:
The computation of the interest expense is shown below:
= Borrowed amount × rate of interest × number of months ÷ (total number of months in a year)
= $100,000 × 12% × ( 4 months ÷ 12 months)
= $4,000
The four months is taken from Jan 2022 to May 2022
We simply applied the simple interest formula to determine the interest expense and the same is shown above
Answer:
Explanation:
Do you have choices for this question?
Answer:
Future Value= $53,635.17
Explanation:
Giving the following information:
Since your birth, your grandparents have been depositing $ 100 into a savings account every month. The account pays 9% interest annually.
First, we need to calculate the monthly interest rate:
Real interest rate= 0.09/12= 0.0075
Now, using the following formula, we can calculate the future value:
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit= 100
n= 18*12= 216
i= 0.0075
FV= {100*[(1.0075^216)-1]}/0.0075
FV= $53,635.17
Answer:
There is a drought and very few strawberries are available. More people want the strawberries than there are berries available. The price of strawberries increases dramatically. A huge wave of new, unskilled workers come to a city and all of the workers are willing to take jobs at low wages.
Explanation:
Hope this helps- Good Luck! ^w
