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Anvisha [2.4K]
3 years ago
12

You have taken out a $350,000, 3/1 ARM. The initial rate of 6.0% (annual) is locked in for 3 years. Calculate the outstanding ba

lance on the loan after 3 years. The interest rate after the initial lock period is 6.5%. (Note: the term on this 3/1 ARM is 30 years)
Business
1 answer:
Vilka [71]3 years ago
5 0

Answer:

Explanation:

  • The Monthly Payment = Loan Amount / PVAF (360,0.50%)

  • The Monthly Payment = 350000 / 166.7916

  • The Monthly Payment = $2098.43

  • Loan Balance after 3 years = PV(0.50%,324,-2098.43) = $336294.2

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Concord Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at
Alika [10]

Answer:

Explanation:

The journal entry is shown below:

Unrealized holding gain or loss A/c Dr $45,500

        To Estimated liability on purchase commitments A/c $45,500

(Being the unrealized gain or loss is recorded)

The computation of the unrealized gain or loss is shown below:

= Purchase price of raw material - market value

= $1,024,100 -  $978,600

= $45,500

5 0
2 years ago
The retained earnings statement shows all of the following except the amount of dividends paid during the period. the changes in
Ymorist [56]

Answer:

the amount of expenses incurred during the period

Explanation:

Retained earnings are a  part of a company's income that has not been distributed to shareholders as dividends. When management opts not to distribute all of the company's earnings as dividends, the portion not shared out is the retained earnings.

The retained earnings statement shows the accumulated amount of retained earnings up to the current period. It indicates the total earnings, the dividend paid out, and the retained earnings for the current financial year. The retained earnings statement does not feature expenses. Expenses are accounted for in the income statement that shows profits or loss for the period

5 0
3 years ago
Tamara has $500 she is looking to save for a class trip. She wants to earn the most possible interest and will not need access t
Kay [80]
She would have to save up to $6,000
7 0
2 years ago
Read 2 more answers
covid-19 pandemic of 2020, e-tronics began weighing options for controlling or cutting costs due to lower revenue and profitabil
Oxana [17]

According to the information given in the question,  the best option to pursue would be early retirement.

Early Retirement presents a handy and exceptional way for assembly expectancies of a reduction in force (RIF). A reduction in force (RIF) takes place whilst a function is eliminated with no intention of changing it and effects an everlasting cut in headcount. A corporation may additionally decide to lessen its staff by means of terminating employees or by means of attrition

RIF occurs whilst a company completely eliminates positions. It is distinct from a furlough, wherein an employee's hours are quickly reduced. In the Federal government, layoffs are referred to as a reduction in force movements. When an agency should abolish positions, the reduction in force policies decides whether or not an employee keeps his or her gift position, or whether the employee has a proper to an extraordinary role.

Personnel reduction is a movement to lessen the range of personnel in a branch or in the County typical. Motives for a discount in force may additionally encompass, however, aren't constrained to reduced funding, reorganization, and/or modified workload.

Learn more about Retirement here brainly.com/question/27232329

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6 0
1 year ago
Laubitz Company begins operations on Apr.1. Information from job cost sheets shows the following:
Inessa [10]

Answer:

1. 2. April 30 $11600

31-May $20100

2. April 30 $3,200

31-May $11,90

3. Profit April 0

May$800

June $2975

Explanation:

1) Calculation for Work in Process Inventory at

April 30 and 31-May

Work in Process Inventory at

April 30=7500+4100

Work in Process Inventory at

April 30=$11600

Work in Process Inventory at31-May =4100+6900+4700+4400

Work in Process Inventory at31-May= $20100

2) Calculation for Finished Goods Inventory at

April 30 and 31-May

Finished Goods Inventory at

April 30: $3,200

Finished Goods Inventory at 31-May =7500+4400

Finished Goods Inventory at 31-May= $11,900

3) Calculation for Gross Profit

Gross Profit April : 0

Gross Profit May =3200*25%

Gross Profit May=800

Gross ProfitJune :- Job 10 =(7500+4400)*25% Gross Profit June 2975

6 0
2 years ago
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