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oksian1 [2.3K]
3 years ago
7

An $11,000 mortgage has a 30-year term (requiring monthly payments) and a 6% nominal interest rate. (a) What is the monthly paym

ent? (b) What will be the remaining balance on her loan immediately after making her 12th payment? (c) How much interest is paid in Month 13? How much principal?
Business
1 answer:
neonofarm [45]3 years ago
8 0

Answer:

Answer:

a) Monthly payment = $65.95

b) Remaining balance on her loan after making 12th payment = 11,000 - (65.95 x 12) = $10208.6

c) Interest paid in month 13 = 10208.6 * 0.5% = $51.043

  Principal paid in month 13 = $65.95 - 51.043 = $14.907

Explanation:

Using financial calculator:

PV = 11,000

n = 30 years = 360 months

i/r = 6%/year = 0.5% / month

FV = 0

PMT = ? (Monthly payment = ?)

a) Monthly payment = $65.95

b) Remaining balance on her loan after making 12th payment = 11,000 - (65.95 x 12) = $10208.6

c) Interest paid in month 13 = 10208.6 * 0.5% = $51.043

  Principal paid in month 13 = $65.95 - 51.043 = $14.907

Explanation:

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The Whistling Straits Corporation needs to raise $70 million to finance its expansion into new markets. The company will sell ne
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2,557,065 shares

Explanation:

Offer price = $30 per share

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3 years ago
A ________ is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the co
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Answer:

profitable customer

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Give the meaning and important aspects of the process of globalisation.​
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Answer:

Globalization by definition is that process that the business or n organisation begins to operate on an international standards.It involves interactions amongst individuals , institution and even the government.

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3.Capital and investment movement

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Explanation:

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2.Globalization has caised movement, through migrationa socioeconomic as well as the political relations is created along the borders.Movement has caused people to be more difficult to controlband also people have been dislocated.

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You are saving money to buy a car. If you save $ 320 per month starting one month from now at an interest rate of 9​%, how much
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Answer:

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Given pmt 320, r 9% n 5 years

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