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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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3 years ago
Which of the following statements is CORRECT? Group of answer choices Unlimited liability and limited life are two key advantage
Pepsi [2]

Answer:

The correct statement is;  Limited liability is an advantage of the corporate form of organization to its owners (stockholders), but corporations have more trouble raising money in financial markets because of the complexity of this form of organization.

Explanation:

A limited company can either be private or public. A limited company posses these 2 key features namely;

1.  Limited liability- the liability of shareholders is limited to the amount of their investment in the company.

2. Seperate legal existence-  a limited company can in it's name sue, be sued and enter into contracts.

Limited liability means that the investors can only lose the money they have invested and no more, meaning lenders have to keep this in mind when issuing loans to limited companies.

5 0
3 years ago
A manager who wishes to be successful in international business should avoid a(n) ________ attitude.
coldgirl [10]

Answer: ethnocentric

Explanation:

6 0
3 years ago
Which of the following countries experienced a decline in total output from 2000 to 2005?
sattari [20]

Answer: The correct answer is "B. Zimbabwe".

Explanation: GDP growth is crucial for an economy, since an increase in it reflects an increase in economic activity. If economic activity picks up, it means that unemployment tends to decrease and that per capita income increases.

In the case of Zimbabwe, population growth is far superior to GDP growth, therefore this makes economic growth much more difficult since there are more people per capita income is diminished.

7 0
3 years ago
Suppose that in your first year of college you spend $31,300.00 more than you eam. In your second year, your expenses increase a
ryzh [129]

Answer: See explanation

Explanation:

Based on the information provided in the question, the deficit in the 3rd year of college will be: = $32,150

The total debt that one owes in the 3rf year will then be the addition of the debts from the 1st to the 3rd year and this will be:

= $31,300 + $31,900 + $32,150

= $63,232

5 0
3 years ago
Read 2 more answers
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