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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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Business studies December axam papers​
Fudgin [204]

Answer:

really in December

Explanation:

thx for info

5 0
2 years ago
Joanna and her husband went to have dinner at their favorite restaurant- the Big Bite. They ordered the food, enjoyed the food,
In-s [12.5K]

Answer:

Debtor: Joanna and her husband; Creditor: Resturant

Explanation:

Hope this helps

6 0
2 years ago
Dollar Co. sold merchandise to Pound Co. on account, $25,500, terms 2/15, net 45. The Pound Co. paid the invoice within the disc
Scorpion4ik [409]

Answer:

c. $24,990

Explanation:

The Term 2/15 net 45 mean 2% cash discount is offered if the payment is made within 15 days otherwise the credit period is 45 days. There is no after 15 days of sale.

Amount of Sale = $25,500

Discount Rate = 2%

The Pound Co. paid the invoice within the discount period. They are eligible to receive the 2% discount on sale value.

Discount Amount = $25,500 x 2% = $510

Net Sales amount in this transaction = $25,500 - $510

Net Sales amount in this transaction = $24,990

8 0
3 years ago
The following information is available for Sheridan Company
Arte-miy333 [17]

Answer:

See below

Explanation:

Balance sheet as of December 31, 2022.

Current assets

Account receivable $2,000

Cash $6,280

Supplies $3,790

Total $12,070

Fixed assets

Equipment net $110,300

Inventory $2,810

Total $113,110

Total assets = $12,070 + $113,110 = $125,180

Current liabilities

Accounts payable $3,900

Interest payable $500

Salaries and wages payable $740

Notes payable $32,500

Total $37,640

Financed by;

Common Stock $52,500

Total liabilities + Common stock

= $37,640 + $52,500

= $90,140

6 0
3 years ago
Admission prices to Dollywood are $50 for a one-day ticket, $80 for a two-day ticket, and $100 for an annual pass. Based on thes
Neporo4naja [7]

Answer: b. $30; $20; $0

Explanation:

<em>Admission prices to Dollywood are $50 for a one-day ticket, $80 for a two-day ticket, and $100 for an annual pass. Based on these prices, the marginal cost of visiting Dollywood the second day is </em><em><u>$30</u></em><em>, the third day is </em><em><u>$20</u></em><em>, and the fourth day is </em><em><u>$0.</u></em>

The marginal cost is the extra cost per day of going to Dollywood.

Second day

Marginal cost = Second day price - First day

= 80 - 50

= $30

Third day

Marginal cost = Third day price - Second day

= 100 - 80

= $20

Fourth Day

Marginal cost = Fourth day price - third day

= 100 - 100

= $0

3 0
3 years ago
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