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V125BC [204]
1 year ago
11

craig decides to purchase a property that has been valued at $475,000. he has $80,000 available as a deposit and will require a

mortgage for the remaining amount. the bank offers him a 25 year mortgage at 2% interest. calculate the total interest he will pay over the life of the loan, assuming he makes monthly payments. give your answer in dollars to the nearest ten dollars. do not include commas or the dollar sign in your answer.
Business
1 answer:
Katarina [22]1 year ago
4 0

The total interest he will pay over the life of the loan, assuming he makes monthly payments is:

Solution-

Property value = $425000

Down payment = $80000

interest rate: 2%

Time = 25 years

loan amount = 475000 - 30000

                      =395000

formula- monthly payment= loan*I/n /1 -(1+i/n)-nt

where n =no.of compounding pan year

monthly payment=395000*0.02/12/1-(1+0.02/12)-12*25

                          = 658.3333/1-0.60678315

                         = 1674.22 ans.

Interest is the charge you pay for borrowing cash from a lender. That approach you might not simply pay lower back the cash you borrowed. You'll additionally pay lower back a further sum, that is the hobby at the mortgage. Lenders take unique methods to charging hobby.

Learn more about loan here:

brainly.com/question/11421834

#SPJ4

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The Work in Process Inventory account for DG Manufacturing follows. Compute the cost of jobs completed and transferred to Finish
Lana71 [14]

Answer:

Cost of god transferred  = $88,300.

Explanation:

The cost of job transferred out =

Opening WIP + direct material cost + direct labor cost + applied overhead - closing WIP

Cost of job transferred = 4,600 + 47,200+ 29,700 +15,900 - 9100

                                       = 88,300.

Kindly note that closing inventory represents amount of manufacturing costs that has been incurred on production units but which are yet to be completed . <em>So to determine the cost of what has be completed and finished, we subtract the value of closing inventory from the total manufacturing cost incurred till date. </em>

<em />

3 0
4 years ago
Differentiate between Cloud computing<br> and Grid computing.
Sladkaya [172]
<h3>Answer:</h3>

Cloud computing is based on a Client-Server model. Cloud computing is a highly accessible service that utilizes centralized resources. Cloud computing is a pay-as-you-go model, which implies that customers pay for the service they get.

The second one, is a distributed computer model known as Grid Computing. Users in grid computing do not have to pay for the usage of resources in a collaborative manner.

<h3>Examples of differences between the two:</h3>
  • Cloud computing is a client-server computing architecture, while Cloud Computing is a distributed computing architecture.
  • Cloud computing is a centralized executive, while Grid Computing is a decentralized executive.
  • In Cloud Computing, resources are used in centralized pattern. While in Grid Computing, resources are used in collaborative, shared pattern.
  • Cloud Computing is more flexible than Grid Computing
  • In Cloud Computing, the users pay for the use. Vice versa that is not the case.
  • Cloud Computing is a high accessible service, while Grid Computing is a low accessible service.
  • Cloud Computing can be accessed through standard web protocols, white Grid Computing is accessible through grid middleware.

7 0
3 years ago
Susie has lost her job in a Vermont textile plant because of import competition. She intends to take a short course in electroni
pentagon [3]

Answer:

Seasonal Unemployment

Explanation:

Susie is going through an unwanted unemployment that is caused by the economic changes. This kind of unemployment is called seasonal unemployment. It is caused by the changes that are occurring in the economy due to which certain skills or tasks are being replaced or not required anymore.

Susie is going to change her economic surrounding to fit in better now with the kind of skill set she plans on developing.

4 0
3 years ago
Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825) Date of Note
nalin [4]

Answer:   Interest                                             Maturity Date

(a) 78110×7%×(60/360) = $911                          August 9

(b) 46200×8%×(90/360)= $924                          October 12

(c) 11700×9%×(75/360) = $219                                 July 11

Explanation:

To compute the interest we apply the following formula:

Interest= (Principal) × (Interest Rate) ×(Terms ÷360)

For the Maturity date, we add Terms to the Date of note .

By using the above formula for the given table, we get the following values

      Interest                                             Maturity Date

(a) 78110×7%×(60/360) = $911      August 9

(b) 46200×8%×(90/360)= $924     October 12

(c) 11700×9%×(75/360) = $219      July 11

3 0
4 years ago
May I have help With this question please
AysviL [449]
The correct answer is 3
6 0
4 years ago
Read 2 more answers
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