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
nata0808 [166]
3 years ago
10

A house is to be purchased for $180,000 with a 10% down payment, thereby fi nancing $162,000 with a home loan and mortgage. Ther

e are no "points" or other closing charges associated with the loan. A conventional 30-year loan is used at 7.5%, resulting in monthly payments of $1,132.73. The interest portion of the first monthly payment will be what?
Business
1 answer:
FinnZ [79.3K]3 years ago
8 0

Answer:

Explanation:

Principle amount is $162000

Rate is 7.5%  or 7.5%/12 monthly

So  formula is: Interest = Principle * Rate * Time / 100

Interest = 162000*7.5*1/12*1/100  = 1215000/12 = 1012.5

Interest = 1012.5

You might be interested in
Suppose you use your entrepreneurial spirit and economics training to start your own business. In your first year of work, you a
3241004551 [841]

The  total amount of social insurance taxes you owe the federal government is $3,596.

The social insurance taxes will be tax rate (6.2%) of gross income amount of  $58,000 which is calculated using this formula

Social insurance taxes=Social security tax rate× Gross income

Where:

Social security  tax rate=6.2%

Gross income=$58,000

Let plug in the formula

Social insurance tax=6.2%×$58,000

Social insurance tax=$3,596

Inconclusion the  total amount of social insurance taxes you owe the federal government is $3,596.

Learn more here:brainly.com/question/10714904

3 0
3 years ago
Which type of account typically has very high liquidity, low or no interest, and low minimum balance?
faltersainse [42]
I would say that it is a CHECKING ACCOUNT. The answer for this would be option A. This type of account can be accessed anytime which makes its liquidity very high, but on the other side, this has very low interest and the minimum balance required is also low. Hope this helps.
7 0
3 years ago
You have a loan outstanding. It requires making three annual payments at the end of the next three years of $3000 each. Your ban
Oksana_A [137]

Answer:

The final payment would be of amount $9000

Explanation:

The keywords of the question state that the bank needs an equal amount of money by both of the payment procedures. Hence, no matter which payment method I choose on the outstanding loan, the bank would need a sum of 3x3000 = $9000

5 0
4 years ago
After you have put a marketing plan in place,it is importantly to do what
statuscvo [17]
I found the options online. it would be to monitor the results
3 0
3 years ago
According to McGregor’s ________, working is as natural an activity as resting or playing, and people will work hard to achieve
qwelly [4]

Answer: Theory Y

Explanation:

Theory Y is one of the human work motivation created by McGregor. The theory states that "workers that are motivated and enjoy their work will perform better without a direct reward system". This happens when managers value their employees and see them as assets.

7 0
4 years ago
Other questions:
  • A person is overweight (350 pounds) and desires to lose 10% of his body weight over 6 months. what is the total kcalorie intake
    13·1 answer
  • LPM company is a furniture 5 points manufacturer having a current market price of $70 per share. Mrs. Jennifer is a warrant hold
    13·1 answer
  • Sue spent much of her time checking inventories, processing straight rebuys, setting up displays and making sure everything is g
    7·1 answer
  • Opening Case: The Trans Pacific Partnership QUESTION 1: Do you agree with the characterizations of the TPP as ""a terrible deal"
    11·1 answer
  • Suppose that the manager of a company has estimated the probability of a super-event sometime during the next three years that w
    6·1 answer
  • Zwilling Corporation’s comparative balance sheet for current assets and liabilities was as follows:
    11·1 answer
  • 1. Do you believe that training is a necessity in the implementation of new policies? Please support your answers.
    8·1 answer
  • Using the continuous-debt method of setting your debt limit, you should be able get completely out of debt (other than your mort
    14·1 answer
  • Which one of the following is a characteristic of an oligopoly​
    13·2 answers
  • You are waiting at a bus stop and the woman next to you is crying. You wonder why is so and make deduction that she cries becaus
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!