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butalik [34]
3 years ago
12

"If $120,000 is borrowed for a home mortgage, to be repaid at 9% interest over 30 years with annual payments of $11,680.36, how

much interest (as opposed to return of capital) is paid in the last year of the loan"
Business
2 answers:
Lelu [443]3 years ago
8 0

Answer:

$964

Explanation:

to calculate this I will prepare a payment schedule on excel:

  • APR = 9%
  • principal = $120,000
  • n = 30 annual payments
  • payment = $11,680.36

the last years payments will include $964 paid in interests and $10,716 in principal

As more payments are made, the principal balance n the loan decreases, so the next payment will include less interests and more principal.

Download pdf
Alex_Xolod [135]3 years ago
4 0

Answer:

$ 1,592,121.121

Explanation:

Present Value at T=0 is $120,000

N = 30

I = 9%

PMT = $11,680.36

We shall calculate the Future Value without PMT and then with PMT. The difference would be the amount of interest paid.

FV at T = 30 with PMT is -$3,184,242.537

FV at T = 30 without PMT is -$1,592,121.416

The total interest paid on the loan is = $ 1,592,121.121

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Jallouk Corporation has two different bonds currently outstanding. Bond M has a face value of $50,000 and matures in 20 years. T
Nina [5.8K]

Answer

Current Price of Bond M = $25,202

Current Price of Bond N = $7,102

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
4 0
3 years ago
Travis has agreed to invest $16,000 in a partnership with his sister and brother-in-law. He does not intend to actively work in
german

Answer:

D. Limited partner

Explanation:

Limited partner -

It is one of the owner of a company or organization , where the liability of the firm's debt is not allowed to raise than the other investor of the company .

Limited partner is also known as silent partners .

The limited partner has very restricted voting rights on the business of the company , and even is not involved in the day - to - day activity of the business .

The role of the limited partner is to invests some amount of money for exchange of the shares in a partnership .

Hence , from the information of the question ,

Travis is a Limited partner in the given partnership .

6 0
3 years ago
Horrocks Company granted 180,000 restricted stock awards of its no par common shares to executives, subject to forfeiture if emp
My name is Ann [436]

Answer:

c. 120,000 shares

Explanation:

\frac{No adjustment to the numerator}{180,000-60,000= 120,000}

*Assumed purchase of treasury shares

$600,000

//\frac{10}{60,000}

Note: The proceeds also must be increased (or decreased) by any tax benefits that would be added to (or deducted from) paid-in capital when the eventual tax deduction differs from the amount expense, the "excess tax benefit." Since that occurs when the stock price at vesting differs from the stock price at the grant date, the fact that the market price remained at $10 avoided that issue.

3 0
3 years ago
Mrs. Mulcahy, age 65, is concerned that she may not qualify for enrollment in a Medicare prescription drug plan because, althoug
Kazeer [188]

What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.

Medicare prescription drug plan is plan that help to cover all prescribed drugs which means that any person under the plan drugs is covered thereby by saving costs.

Based on the scenario every person who is qualified to Part A or who is enrolled under Part B is qualified to register for Medicare prescription drug plan.

Since she is qualified for Part A, she do not need to register or enroll in Part B before been enrolled in a Medicare prescription drug plan.

Inconclusion What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.

Learn more here:

brainly.com/question/2484113

4 0
2 years ago
A few years ago, a house in Tennessee burned to the ground while firefighters, residents & politicians watched. The homeowne
allochka39001 [22]
I think the answer is probably C
7 0
3 years ago
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