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blsea [12.9K]
3 years ago
9

You need a 30-year, fixed-rate mortgage to buy a new home for $250,000. Your mortgage bank will lend you the money at an APR of

5.45 percent for this 360-month loan. However, you can afford monthly payments of only $900, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $900?
Business
1 answer:
cricket20 [7]3 years ago
8 0

Answer: $463,067.50

Explanation:

Calculation of single bill payment i.e. Future value

Future\ value=Present\ value\times(1+r)^{n}-Payment\times\frac{(1+r)^{n}-1 }{r}

Future\ value=250,000\times(1+\frac{5.45}{1200} )^{360}-900\times\frac{(1+\frac{5.45}{1200} )^{360}-1 }{\frac{5.45}{1,200} }

                            = $250,000 × 5.110505847 - $900 × 905.06551

                            = $1,277,626.46 - $814,558.96

                            = $463,067.50

Therefore, the single balloon payment will be $463,067.50

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s2008m [1.1K]

Answer:

In his traditional role Finance

Manager is responsible for

Select one:

a

Running the business smoothly

b

Proper utilisation of the funds

c

Arranmgement of financial

resources

d

Efficient management of cash

Explanation:

In his traditional role Finance

Manager is responsible for

Select one:

a

Running the business smoothly

b

Proper utilisation of the funds

c

Arranmgement of financial

resources

d

Efficient management of cash

5 0
3 years ago
What is the difference between investing and saving
tresset_1 [31]
Investing is when you invest or expend your money into a business, stock, etc to make money. You can always invest safely or be risky but have a chance of losing your money. Saving is when you save up you money and don’t do anything with it neither spend it or invest it.
5 0
3 years ago
In the context of the 5S principles, _____ means to keep a process going through training, communication, and organizational str
alina1380 [7]

In the context of the 5S principles, <u>sustain </u>means to keep a process going through training, communication, and organizational structures.

<h3>What is 5S principles? </h3>

5s principles can be defined as the principle that help to show the appropriate way a work place or work environment should be or should be arranges .

The 5S principle are:

  • Sort
  • Set in order
  • Shine  
  • Standardize
  • Sustain

Therefore In the context of the 5S principles, <u>sustain </u>means to keep a process going through training, communication, and organizational structures.

Learn more about 5s principles here:brainly.com/question/10001029

#SPJ1

5 0
2 years ago
Kelsey owns a cottage in which her aunt Matilda lives. Kelsey wants to insure that Matilda can live in the cottage for the remai
Inessa [10]

Answer:

Kelsey owns a cottage in which her aunt Matilda lives.  

Kelsey wants to insure that Matilda can live in the cottage for the remainder of her life, but when Matilda dies, title to the property will return to Kelsey.

Kelsey can accomplish this objective by granting Matilda a Drag and Drop the appropriate terms into the spaces provided

A life tenant has the OBLIGATION to keep the property in good repair and to pay property taxes.

The two types of CURRENT ownership are tenancy in common and joint tenancy.  

Concurrent ownership MENTIONATED can also be held in a tenancy by the entirety or as community property.

In most states, it is PRESUMED that a co-tenancy is a tenancy in common.

With a joint tenancy a deceased joint tenant's interest IS TRANSFERED to the surviving joint tenant or tenants.

The right of survivorship DISTINGUISHED a joint tenancy from a tenancy in common.

When a joint tenant transfers her or his rights to another without the consent of the other joint tenants, doing so TERMINATED the joint tenancy.

Explanation:

Kelsey and her aunt Matilda, they made an agreement so that Matilda can usufruct the house while she lives, and when she dies she becomes Kelsey.

3 0
3 years ago
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Licemer1 [7]
The correct answer for the question that is being presented above is this one: "c. Sale of $35 off and a successive discount of 10% off." The stores would you pay the least amount for an item that is priced $360 is that <span>c. Sale of $35 off and a successive discount of 10% off.</span>
4 0
3 years ago
Read 2 more answers
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