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lys-0071 [83]
3 years ago
5

You want to buy a house that costs $285,000. You will make a down payment equal to 20 percent of the price of the house and fina

nce the remainder with a loan that has an APR of 5.49 percent compounded monthly. If the loan is for 30 years, what are your monthly mortgage payments

Business
1 answer:
VARVARA [1.3K]3 years ago
6 0

Answer:

$1,293.13

Explanation:

For computing the monthly mortgage payments we use the PMT formula i.e to be shown in the attachments below:

Given that,  

Present value = $285,000 - $285,000 × 20% = $228,000

Future value = $0

Rate of interest = 5.49% ÷ 12 months = 0.46%

NPER = 30 years × 12 months = 360 months

The formula is shown below:

= PMT(Rate;NPER;-PV;FV;type)

The present value come in negative

After applying the above formula, the monthly mortgage payment is $1,293.13

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Answer:

C, distributed product development

Explanation:

Distributed product development can simply be defined as the distribution of the different parts/components of a product to different firms. Distributed product development is usually done when the best of partners are being consulted over a product. Te other firms usually are the best in the production of the components of the product and as such might not be based in the home country of the product's parent company.

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3 years ago
Suppose during a year an economy produces $10 trillion of consumer goods, $4 trillion of investment goods, $6 trillion in govern
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Answer:

The correct answer is $19 trillion

Explanation:

Gross Domestic Product (GDP) is the total market or monetary value of all the goods and services produced by a country within its borders over a given period of time. It is used as a measure of a country's economic health, due to its broad coverage.

The formula for calculating GDP is: GD P  =  C  +  I  +  G  +  ( X  −  M )

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C = private consumption (consumer goods)

I = gross investments (investment goods)

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X = export

M = import

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GDP (in trillion) = 10 + 4 + 6 + (4 - 6) = 10 + 10 - 1 = $19 trillion dollars.

Please note that there is the nominal GDP and real GDP.

Nominal GDP is the total value of all the final goods and services a country produces within a year, while real GDP is the value of the goods and services produced within a year, putting inflation effects into account.

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3 years ago
What are examples of financial goals? Check all that apply.
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Answer:

Skylar wants to pay off her college student loans within five years and Lukas wants to earn at least $40,000 per year.

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