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Bumek [7]
4 years ago
12

Borrower Kathy has a starting balance of $150,000 at the beginning of January. She is being charged at 3.25% interest. Her total

monthly payment for combined principal and interest is $640.50. How much of the first payment is the principal?
1) $640.50
2) $844.64
3) $406.25
4) $234.25
Business
1 answer:
romanna [79]4 years ago
3 0

Answer:

4) $234.25

Explanation:

First, we have to find out the monthly interest payment which is shown below:

= (Starting balance of January month × interest rate) ÷ total number of years in a year

= ($150,000 × 3.25%) ÷ 12 months

= $406.25

The total monthly payments is $640.50

So, the first payment would be

= Total monthly payments - monthly interest payment

= $640.50 - $406.25

= $234.25

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Globalization of Market is taking place because of ___________.
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Because it involves the growing in third dependency among. The Konomi‘s of the world; mold to national nature of sourcing, manufacturing, trading and investment activities increasing frequency of cross-border.
7 0
3 years ago
In the base year in a small island macroeconomy, nominal GDP was $400m. In a later year when the general level of all prices was
Cerrena [4.2K]

Answer:

Both options C and D are correct.

Explanation:

Inflation refers to an increase in the general price level of goods and services overtime. Since it is conveyed in the question that the general price level in a later year became twice as high, inflation definitely occurred. Hence, option D is correct.

Nominal GDP is the value of the total output at current market prices. Real GDP adjusts that value for inflation. As prices double, nominal GDP ought to increase from $400m to $800m. However, it actually rose to $1000m. This additional increase of $200m shows that the real GDP has risen. However, the increase in real GDP is less than 100%. This implies option C is also correct.  

8 0
3 years ago
You borrow $12,600 to buy a car. The terms of the loan call for monthly payments for five years at an interest rate of 4.65 perc
UkoKoshka [18]

Answer:

$627

Explanation:

To find the answer, we use the present value of an annuity formula:

P = A[1-(1+i)^{-n} /i]

Where:

  • P = Present value of the investment
  • A = Value of the annuiry
  • i = interest rate
  • n = number of compounding periods

Now, we plug the amounts into the formula:

12,600 = A[1-(1+0.0465)^{-60} /0.0465\\]

12,600 = A (20.09870355)

A = 12,600/20.09870355

A = 627

Thus, the value of the monthly payments is $627

4 0
3 years ago
Macroeconomists are like scientists because they both:
Masteriza [31]

Answer: 1) collect data, develop hypotheses, and analyze the results.

Explanation:

Scientist are the professional who work in physical science or natural scientist field to gather information ,creates hypothesis for testing or experimentation to know about the actual outcome.

Macroeconomic is the field where overall economy is studied and analyzed to generate studied supposition .From created theory, evaluation of phenomena is done.

Other options are incorrect because unlimited usage of controlled experiment, relying on analyze data nd designing data are not the measure taken by scientist of macroeconomic field .Thus, the correct option is option (1).

8 0
4 years ago
In responsibility accounting, unit managers are evaluated only on things that they can:________
hammer [34]

Answer: have control over

Explanation:

Responsibility accounting is a system of accounting whereby responsibility centers are identified and the performance reports of such responsibility centers are prepared and analysed.

Responsibility accounting has to.do with the internal accounting for the responsibility center that the company has and their budgeting.

In responsibility accounting, unit managers are evaluated only on things that they can control or have control over.

7 0
3 years ago
Read 2 more answers
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