Answer:
the cost of the equipment is $42,979
Explanation:
The computation of the cost of the equipment is as follows:
= Purchase value of an equipment + sales tax on the purchase + other cost incurred + installation cost
= $39,200 + $2,352 + 588 + $657
= $42,979
Hence, the cost of the equipment is $42,979
The saving component of financial planning focuses on long-term security and includes <u>a </u><u>regular</u><u> savings </u><u>plan </u><u>for emergencies</u>.
<h3>What is financial planning?</h3>
Financial planning can be described as the process of evaluating a person's present income and future financial situation using currently available data to forecast future asset values, earnings, and withdrawal schedules.
Long-term financial planing serve as the foundation for the creation of short-term plans and budgets later in the financial planning process.
The saving portion of financial planning emphasizes long-term security and includes a consistent savings plan for emergency expenses.
Learn more about financial planning here: brainly.com/question/17586668.
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Answer:
The Estimated Monthly Mortgage Payment
= $2,810.81
Explanation:
Data and Calculations:
House price = $475,000
Down payment = $100,000
Percentage of down payment = 21.05% ($100,000/$475,000 * 100)
Finance period = 15 years = 180 months (15 * 12)
Nominal annual interest compounded monthly = 4%
The estimated monthly mortgage payment using an online finance calculator:
Monthly Pay: $2,810.81
House Price $475,000.00
Loan Amount $380,000.00
Down Payment $95,000.00
Total of 180 Mortgage Payments $505,946.54
Total Interest $125,946.54
Mortgage Payoff Date Jan. 2036
A "budget" is a plan in which an individual balances available resources and expenses.
Budgeting is the essential way that you can take control of your accounts. Basically, a budget is a composed arrangement for how you will spend your cash. You can make a month to month or a yearly spending plan. The budget enables you to settle on money related choices early, which makes it less demanding to cover every one of your costs consistently. Budgeting reliably can enable you to turn your accounts around and start to fabricate riches.
Answer:
(a) rr: 1/3, cr: 0.5, m:1.8 M: 1800
(b) 1500
(c) 200
