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lesya [120]
2 years ago
6

Brian Burkhardt is planning to purchase a home and expects to borrow $291,400 as a mortgage. He can get a 30-year mortgage at a

rate of 4.10%, and his monthly payments will be:
Business
1 answer:
Vsevolod [243]2 years ago
4 0

Brian Burkhardt's monthly payments for this mortgage would be equal to $1,423.92.

<h3>How to calculate monthly payment?</h3>

Mathematically, the monthly payment for a mortgage can be calculated by using this formula:

M=P(\frac{r}{1-(1+r)^{-nt}} )

<u>Where:</u>

  • P is the principal.
  • r is the interest rate.
  • M is the monthly payment.
  • t is the time in years.
  • n is the number of times it's compounded.

<u>Note:</u> r = 4.10 = 0.041/12 = 0.0034

Substituting the given parameters into the formula, we have;

M=291400(\frac{0.0034}{1-(1+0.0034)^{-12\times 30}} )\\\\M=291400(\frac{0.0034}{1-0.3402} )\\\\M=291400(\frac{0.0034}{0.6598} )\\\\M=291400 \times 0.004887

M = $1,423.92.

Read more on monthly payment here: brainly.com/question/2151013

#SPJ1

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Katen [24]

Answer:

a.liable.

Explanation:

In the case when the company operates a wastage i.e. hazardous but at the same time they are concerned about the release of the chemicals from theri site. The company sold the property to the incorporation now in the case when there is a lease so here the company would be liable .

As the liabilities i.e. stricted represents the parties responsible that recommended that the liabilities could not be ignored via ownership transfer

Therefore the correct option is a.

6 0
3 years ago
In your opinion, does having two different existing labor federations (AFL-CIO and Change to Win) strengthen or weaken the abili
Sphinxa [80]

Answer:

They weaken their ability to represent the interests of employees

Explanation:

The two organizations American Federation of Labor(AFL) and Congress of Industrial organizations(CIO) work differently regarding their approach to representing labor or employees. They have had disagreements in the past, from CIO breaking out of AFL to some violent exchanges and differing policies to representing labour. These differences make it less effective to represent employees as these unions are not entirely unified.

4 0
3 years ago
The Retained earnings account has a credit balance of $34,000 before closing entries are made. If total revenues for the period
nevsk [136]

Answer:

The ending balance of retained earnings account is $43,400.

Explanation:

Simply put, retained earnings are an amount of net income left after payment of dividends to shareholders. This amount accumulates over time period as the company retains profit for its operations. Usually, it is arrived at using the formula below:

Retained earnings = Opening balance + Net income (or loss) - Cash dividends - Stock dividends

At the instance of the question, retained earnings = $34,000 + $27,400 ($105,200 - $77,800) - $18,000 = $43,400.

4 0
3 years ago
Read 2 more answers
. In an income statement segmented by product line, the salary of the corporation chief executive officer (CEO) should be: a. al
Alexxx [7]

Answer:

d. classified as a common fixed expense and not allocated to the product lines.

Explanation:

In the case when the income statement is segmnented by the product line so the salary of the  chief executive officer (CEO) would be categorized as a common fixed expenses as it has fixed in a nature so it would not be allocated to the product lines

Therefore as per the given situation, the option D is correct

Hence, the same is to be considered

8 0
2 years ago
Cooley Landscaping Company needs to borrow ​$21 comma 000for a new​ front-end dirt loader. The bank is willing to loan the funds
kaheart [24]

Answer:

$ 4242.76

Explanation:

Annual payment = rP / (1 - ( 1 + r)^-n)

r = rate = 9.5%

P = the amount borrowed = $ 21000

n = number of years

Annual payment = 0.095 ($ 21 000) / ( 1 - (1 + 0.095)⁻⁷ ) =  $ 4242.76

8 0
3 years ago
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