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
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

You might be interested in
Because monopoly firms do not have to compete with other firms, the outcome in a market with a monopoly a. is often not in the b
olchik [2.2K]

Answer:

a. is often not in the best interest of society. 

Explanation:

A monopoly is when there is a single firm operating in an industry. This is usually so because of high barriers to entry of other firms.

Because a monopoly has only one firm in the industry, the firm sets prices to maximise profit. The firm earns economic profit in the short and long run.

The monopoly benefits the producer more than consumers. It is often inefficient and fails to maximise total welfare .

Because of these inefficiencies, government usually steps in to regulate the activities of a monopoly.

I hope my answer helps you.

4 0
3 years ago
Target's liabilities exceed owners' equity.<br> a) true<br> b) false
Likurg_2 [28]

Answer: True

Explanation:

As of February 2020, Target Corp's total liabilities were listed to be $30,946,000,000 while its shareholder equity was significantly lower at $11,833,000,000.

Target Corp therefore does indeed have liabilities that exceed owners equity and by a substantial amount. This has also been the trend since at least 2015.

4 0
3 years ago
Which economic system has the most government control? (choose best answer)
GrogVix [38]
D. traditional economy
5 0
4 years ago
Read 2 more answers
A store is discounting all of it's stock. the original price of a pair of sunglasses was $44.95. the sale price is $26.97. at th
VikaD [51]
The first thing you should do to solve this problem is to know how much was the discount of the sunglasses.
 We have then:
 44.95 $ ---> 100%
 26.97 $ ---> x
 Clearing x:
 x = (26.97 / 44.95) * 100 = 60%
 therefore, the discount is
 100-60 = 40%.
 Then, the original price of the swimsuit will be
 (28.95 $) * (1 + 0.40) = 40.53 $
 answer:
 the original price of a bathing suit that has a sale price of $ 28.95 is $ 40.53
5 0
4 years ago
When the prospect asked, "Will I get a 2-year service warranty on this heating system?" The salesperson responded, "Before you d
Iteru [2.4K]

Answer:

Dodge method

Explanation:

Dodging is a method a salesperson can employ when met with an objection from a customer or potential customer. This method involves sidelining or shelving the objection without answering, while preoccupying the mind of the customer with a another good proposition about the product or service you are trying to sell. Just as seen in the example above, the prospect’s objection is about the warranty service, but the salesperson didn’t answer the objection, rather he shelves it aside as he attempts to shift the prospect’s attention to how the new timer will save the prospect money.

6 0
4 years ago
Other questions:
  • _____ involves determining the information and communications needs of the stakeholders.
    14·1 answer
  • Tamika is a manager at Sleeveless Clothes, Inc. Recently, she was assigned a work team. She is in charge of the team, and it con
    14·1 answer
  • Carlos manages a grocery store in a country experiencing a high rate of inflation. he is paid in cash twice per month. on payday
    12·2 answers
  • Sal was recently promoted at work and was having a difficult time with several staff members who seemed to just do the work the
    13·1 answer
  • you have a business that is dependent on gas. the price of oil increases significantly. as a result, you will... the price of yo
    8·1 answer
  • A bank manager wants to learn more about the relationship between the time a customer has to wait to be served and the overall s
    11·1 answer
  • A. Two years ago your firm took out a 30- year amortizing loan to purchase a small office building. The loan has a 4.80% APR wit
    7·1 answer
  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost system to help control costs
    9·1 answer
  • I don’t understand this and need help
    10·1 answer
  • Jasper has been working a lot of overtime during the most current economic expansion. As a result, his income is high enough for
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!