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mestny [16]
3 years ago
6

Robert and pam get a $175,000 mortgage for 30 years at a fixed rate of 6.75%. their monthly payment amount is $1,135.05. what wi

ll the principal payment be when they make their fourth payment?
Business
1 answer:
MA_775_DIABLO [31]3 years ago
7 0

We will have to construct an amortization table as shown below to calculate the principal payment in the 4th payment

Month Payment Interest Principal Outstanding

0 175000.00

1 1135.05 984.38 150.68 174849.33

2 1135.05 983.53 151.52 174697.80

3 1135.05 982.68 152.37 174545.43

4 1135.05 981.82 153.23 174392.20

As per the above table. principal payment in the 4th payment = $153.23

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Vlad1618 [11]

Answer:

15%

Explanation:

If Miranda works 40 hours a week at a wage rate of ​$25. and she ​however calculates that on the last hour that she​ works, she pays ​$3.75. then her marginal tax rate is derived as follows

<em>The marginal tax rate is the incremental tax paid on incremental income.</em>

From the scenario, we are given the following:

Weekly wage rate is $25.

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Hence, Marginal tax rate  can be computed as = $3.75 / $25 = 15%

8 0
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larisa [96]

Answer:

The correct answer is the option C: Because the effect of compounding allows growth to build upon previous growth.

Explanation:

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7 0
3 years ago
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n200080 [17]
People either get hired to balance out how much a company is paying their employees, or the price of their priduuct increases to balance out how much money their employees are getting paid
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Answer: D

Explanation:

apex

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