1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
algol13
3 years ago
8

A fifteen-year adjustable-rate mortgage of $117,134.80 is being repaid with monthly payments of $988.45 based upon a nominal int

erest rate of 6% convertible monthly. Immediately after the 60th payment, the interest rate is increased to a nominal interest rate of 7.5% convertible monthly. The monthly payments remain at $988.45, and there will be an additional balloon payment at the end of the fifteen years to pay the outstanding loan balance. (a) Calculate the loan balance immediately after the 84th payment. (b) Calculate the amount of interest in the 84th payment. (c) Calculate the amount of the balloon payment.
Business
1 answer:
Sedbober [7]3 years ago
3 0

Answer:

Using an excel spreadsheet I prepared an amortization schedule. For the 61st payment, the interest rate is increased from 0.5% to 0.625% monthly.

(a) Calculate the loan balance immediately after the 84th payment.

  • $77,884.78

(b) Calculate the amount of interest in the 84th payment.

  • $489.90

(c) Calculate the amount of the balloon payment.

  • $12,168.43

As you can see, the interest amount for the 61st payment increases, while it had been decreasing previously.

Download pdf
You might be interested in
A consumer products company produces inexpensive goods in underdeveloped markets, then repackages them as cost-effective innovat
Sholpan [36]

Answer:

FALSE.

Explanation:

When a consumer products company produces inexpensive goods in underdeveloped markets, then repackages them as cost-effective innovations for Western buyers. This is not an example of glocalization because glocalization is the term which is the combination of two terms; localization and globalization. In glocalization, global products are offered to the customers with the local modifications. For example, Pizza Hut has launched Tikka Pizza, Behari Pizza and Achari Pizza in India and Pakistan, which is the perfect example of glocalization. Putting it simply we can say that "thinking globally and acting locally."

3 0
3 years ago
Strategic positioning attempts to achieve sustainable competitive advantage by ______.
matrenka [14]

Its achieve by preserving what is distinct about the company.

Strategic positioning is basically an effort made by an organization in order to distinguishes itself in a valuable way from its competitors and delivers value to clients in way different from others.

  • According to Porter, he states that a "company's relative position within its industry matters for performance".

  • A proper strategic positioning have a way of influencing how customers perceive a product in relation with other competitors product.

In conclusion, this type of positioning helps to achieve sustainable competitive advantage by preserving what is distinct about the company.

Learn more about Strategic positioning here

<em>brainly.com/question/8999192</em>

5 0
2 years ago
Who appoints the chairman of the board of governors of the federal reserve system ​
ELEN [110]

The chair is nominated by the President of the United States from among the members of the Board of Governors, and serves a term of four years after being confirmed by the United States Senate.

7 0
3 years ago
Read 2 more answers
Value Electronics Company started its operations on January​ 1, 2019. Value engages in buying and selling different types of ele
Sladkaya [172]

Answer:

The correct answer is A. purchase inventory from vendors

Explanation:

The inventory is a detailed, orderly and valued relationship of the elements that make up the assets of a company or person at a given time. In the past, it was normal for inventories to be carried out by physical means (they were written on paper), but now they are usually kept in databases centrally to an entire company, even if there are companies or small stores that continue doing so with paper.

The inventory is:

  • detailed because the characteristics of each of the elements that make up the heritage are specified.
  • ordered because it groups the assets in their corresponding accounts and the accounts in their assets.
  • valued because the value of each asset is expressed in monetary units.
5 0
3 years ago
Suppose that GDP is $10,000, Consumption is $6,000, and Government spending is $1,500 with a deficit of $200. (Assume net export
Marta_Voda [28]

Answer:

private saving = $2700

Explanation:

given data

GDP = $10,000

Consumption = $6,000

Government spending = $1,500

deficit = $200

solution

we know here equation of GDP that is express as

GDP = Consumption + investment + Government spending   ...................1

we consider here tax revenue that is = T

T - Government spending = - deficit

T = Government spending - deficit

T = $1500 - $200

T = $1300

so we can say from equation 1

( GDP - Consumption - T ) + ( T - Government spending ) = investment

and investment = private saving + public saving

so private saving will be

private saving = GDP - Consumption - tax revenue  ................2

private saving = $10000 - $6000 - $1300

private saving = $2700

8 0
3 years ago
Other questions:
  • True or false: the nipp information-sharing approach constitutes a shift from a networked model to a strictly hierarchical struc
    9·2 answers
  • Suppose that you found out that many of the sales people in your stores around the country are offering poor customer service. H
    11·1 answer
  • Why are adjustments made to the accounting records at the end of the period? (You may select more than one answer. Single click
    15·1 answer
  • The accrual basis of accounting:____
    9·1 answer
  • If your 2 brothers are fighting how do u get them to stop
    11·2 answers
  • The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is (calculate all ratios and perc
    10·1 answer
  • suggest one strategy businesses can use to deal with each of the following socio economic issues : illiteracy , dumping and inef
    15·1 answer
  • Tanouye Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Ho
    8·1 answer
  • Headland Company loans Sarasota Company $2,190,000 at 6% for 3 years on January 1, 2020. Headland intends to hold this loan to m
    15·1 answer
  • In a designed experiment, a(n) _____ measures the difference that a factor has on the response.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!