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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

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What are the fundamentals of a wealthy life?
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According to liquidity preference theory, there is a rightward shift in the money supply curve when the federal reserve decides to raise the money supply.

Option A is the correct answer.

<h3>What is a federal reserve?</h3>

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Therefore, there is a rise in money supply by the Federal reserve causing the money supply curve to shift in the right direction.

Learn more about the rise in money supply in the related link:

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4 0
2 years ago
Home and Foreign produce two​ goods, flowers and soybeans. Home exports the labor intensive flowers and Foreign exports the land
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guy who is this and what is the cow ate grass and died in the middle of the night

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4 years ago
To pay for college, Henry received the following: $1,000 scholarship from the Thespian Club to pay for books $4,000 scholarship
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Answer:

$5,000

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