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1 year ago

What is the calculation used to determine the estimated annual interest amount a borrower will pay on a loan?

Business

1 answer:

PIT_PIT [208]1 year ago

7 0

The calculation used is mentioned as

$Annual\ Interest\ Amount\ =\frac{Loan\ balance\ X\ Interest\ Rate}{12}$ .

What is Annual Interest Amount?

An interest rate is written as an annual percentage rate. It factors in variables like monthly payments to determine what proportion of something like the principal you'll be paying yearly. APR is another term for the yearly rate of interest payable on investments that does not take into account the annual compounding of interest.
What you still owe just on mortgage principal is known as the loan balance. The loan balance is calculated as the difference here between initial mortgage balance and the sum of your principal payments. It's crucial to be aware of your loan's balance.
An interest rate indicates how expensive borrowing is or how lucrative saving is. Therefore, if you are a borrower, the interest rate refers to the amount you pay for borrowing money and is expressed as a percentage of the overall loan amount.

The calculation used is illustrated as :

$Annual\ Interest\ Amount\ =\frac{Loan\ balance\ X\ Interest\ Rate}{12}$

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The Sarbanes-Oxley Act was designed to protect A. retired workers from losing their pensions B. corporations from misguided whis

Art [367]

Answer:

E. shareholders from the excesses and failed oversight of firms.

Explanation:

The Sarbanes-Oxley Act of 2002 was designed to protect investors and shareholders from accounting frauds, misguided financial statements and intentional errors by improving accuracy and reliability of company's accounts. This act was created in response to financial scandals and frauds that took place before 2002. Public corporations are required to comply with the Laws and regulations in the Sarbanes-Oxley Act.

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3 years ago

Broadbanding eliminates layers in pay grades requiring organizations to find other ways to reward employees. Group startsTrue or

AlekseyPX

Broad banding eliminates layers in pay grades requiring organizations to find other ways to reward employees. False

A technique called "broad banding" replaces a large number of small wage ranges with a smaller number of larger compensation ranges when evaluating and building a job grading structure. Establishing what is necessary to pay for a certain position with help from broad banding.
Payroll departments employ broadband for human resource management. When deciding how much to pay specific roles and the incumbents in those positions, a job grading structure known as "broadcasting" lies somewhere between using spot salaries and several job grades. Broad banding does provide some broad job classifications to the business that uses it, but it does not have as many discrete job grades as do traditional compensation systems.

Thus this is the answer.

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1 year ago

A buyer contracts to purchase a property from a seller for $212,000. Two weeks before closing, a buyer's agent for another compa

ehidna [41]

The listing associate should present the offer to the seller as a potential backup offer for further negotiation.

<h3>Who is a seller?</h3>

A seller is any person or company who sells a product, service, or financial asset.
Short selling is the practice of borrowing securities that are not held in order to sell them and then repurchase them at a reduced price.
A "writer" is a seller of options who collects the premium from the buyer.

<h3>What is an offer?</h3>

In exchange for something else, a commitment to do or refrain from doing something.
An offer must be worded and delivered in such a way that a reasonable person would expect its acceptance to result in a binding contract.

Therefore, the listing associate should present the offer to the seller as a potential backup offer for further negotiation.

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1 year ago

An organization's mission differs from strategic planning in that strategic planning is the basic purpose of the organization

lapo4ka [179]

Answer : true

Explanation:

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2 years ago

Sorin Inc., a company that produces and sells a single product, has provided its contribution format income statement for Januar

Zigmanuir [339]

Answer:

Total Contribution Margin= $50,388

Explanation:

Giving the following information:

Sales (3,400 units) $ 88,400

Variable expenses 43,316

We need to calculate the selling price and unitary variable cost:

Selling price= 88,400/3,400= $26

Unitary variable cost= 43,316/3,400= $12.74

Now, we can calculate the total contribution margin for 3,800 units.

Sales= 26*3,800= 98,800

Variable cost= 12.74*3,800= (48,412)

Contribution margin= 50,388

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2 years ago