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
Eduardwww [97]
3 years ago
7

If you have a $150,000 30-year 5% mortgage, how much of your first monthly payment of $805.50 would go toward principal?

Business
2 answers:
MariettaO [177]3 years ago
8 0

Answer:

$180.5

Explanation:

First, we would determine the amount that goes toward the interest by dividing the interest rate by 12 months to have the monthly interest rate and then, multiply that for the total amount of the loan:

$150,000 × (0,05/12) = $625

Now, that we have the amount that goes toward the interest, we subtract this from the first monthly payment to find the amount that goes toward the principal that is the quantity you borrowed:

$805.50-$625= $180.5

The amount of the first monthly payment of $805.50 that would go toward the principal is $180.5.

Mama L [17]3 years ago
5 0
The answer is $625.000 
You might be interested in
You, being a supplier of steak dinners, opened your steak house. Assume the market-clearing price is $20 and the market clearing
Shalnov [3]

Answer:

A) Shortage, B) Fall in Price

Explanation:

A] Market is at equilibrium where - downward sloping Market Demand (inversely related to price), & upward sloping Market Supply (directly related to price) - are equal &  these curves intersect each other.

Above condition gives us equilibrium price & quantity.

If market price < equilibrium price, as given case 15 < 20. Then, supply being directly related to price is lesser, demand being inversely related to price is higher. So, there is a situation of excess demand, ie <u>shortage </u>(graphically denoted by distance between demand & supply curve at actual price below equilibrium price)

B] Dealers of hybrid vehicles increase imply increase in supply of these vehicles, rightwards shift in the supply curve. This creates excess supply ie surplus of them. It implies that competition among sellers lead to <u>fall in price </u>of these hybrid vehicles.

7 0
3 years ago
If you spend $35 using a credit card, you have created:
Virty [35]
<span>If you spend $35 using a credit card you have created, a $35 financial liability for yourself. </span>
6 0
4 years ago
Indigo Corporation began operations in 2017 and reported pretax financial income of $228,000 for the year. Indigo’s tax deprecia
emmainna [20.7K]

Answer:

Deferred Tax Liability = $11,400   Credit  

Explanation:

given data

pretax financial income = $228,000

Indigo’s tax depreciation = $38,000

tax rate = 30 %

solution

we know here that Income Tax Expense is

Income Tax Expense = $228,000 × 30%  

Income Tax Expense =  $68400    Dr

so as that

Deferred Tax Liability will be here

Deferred Tax Liability =  $38000 × 30%

Deferred Tax Liability =  $38000 × 0.30

Deferred Tax Liability = $11,400   Credit  

7 0
3 years ago
Which of the following are criteria for determining whether to record an asset as a fixed asset?
DochEvi [55]

Answer:must be long lived and used by the company in its normal operations.

Explanation:

6 0
3 years ago
Slack, a collaboration hub that brings people together within organizations, strives to ensure that its products and people focu
Airida [17]

Answer:

mission statement

Explanation:

A company's mission statement defines the reason why the company exists; what is its business (what product or service they provide), its objectives (or goals) and how they will reach these objectives. It should also include who's needs they are satisfying (target market).

5 0
3 years ago
Other questions:
  • Present value​ (with changing interest​ rates). Marty has been offered an injury settlement of ​$12 comma 000 payable in 3 years
    14·1 answer
  • Which of the following is true of risk and expected returns? If two investments have the same expected return, investors prefer
    7·1 answer
  • Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly fina
    11·1 answer
  • Ready Ride is a trucking company. It provides local, short-haul, and long-haul services. It has developed the following three co
    11·1 answer
  • Which of the following is NOT a typical revenue model in the digital world? Freemium Subscriptions Channel marketing Licensing A
    14·1 answer
  • All of the following should generally be included as taxable income on Schedule 1 (Form 1040), line 21, EXCEPT: Reimbursement re
    15·1 answer
  • Debbi Fields' success as an entrepreneur can be attributed to her prior business training and
    5·1 answer
  • Budgeted sales for the month at 4,600 units. Budgeted variable selling and admin expense is $7.30 per unit. Budgeted fixed selli
    8·1 answer
  • Using the allowance method, is bad debt expense recognized in
    5·1 answer
  • Joshua controls all the pay​ rates, raises, and bonuses in your department. He is also able to assign you to an interesting work
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!