The outstanding balance of the mortgage loan is $193,939.29.
<h3>What is
mortgage loan?</h3>
A mortgage loan is a type of loan that enables an individual to purchase a home and are provided by either a mortgage lender or bank.
Present value of annuity = Annuity [1 - (1+interest rate/12)^-(12*time period)]/(rate/12)
Present value of annuity = $1449*[1-(1+0.07625/12)^-(12*25)]/(0.07625/12)
Present value of annuity = $1449*[1-(1+0.00635416667)^-(300)]/0.00635416667
Present value of annuity = $1449*[1-(1.00635416667)^-(300)]/0.00635416667
Present value of annuity = $1449*[1-0.149535834]/0.00635416667
Present value of annuity = $1449*133.843541
Present value of annuity = $193,939.29
In conclusion, the outstanding balance of the mortgage loan is $193,939.29.
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<em>brainly.com/question/1318711</em>
Prox Inc. is a U.S.-based manufacturer of consumer electronics. It decides to export to Mexico and wants to protect its goods against damage, loss, and pilferage. The document which is applicable here is an A. <u>insurance certificate.</u>
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Explanation:
- A certificate of insurance is a document used to provide information on specific insurance coverage.
- The certificate provides verification of the insurance and usually contains information on types and limits of coverage, insurance company, policy number, named insured, and the policies' effective periods
- Certificate of Insurance is a summary document usually issued by an agent on behalf of an insurer that says a policy has been issued to an insured for a general type of risk.
- The Certificate is usually issued to a third party who wants some evidence or assurance that a policy has been issued.
- A certificate of insurance is requested when liability and large losses are a concern.
- Most commercial leases require the tenant to provide certificates of insurance or other evidence of insurance. Certificates of insurance are typically issued by an agent or broker for the named insured and set forth the coverages written for the insured
Based on the information the amount of penalty that Victoria will have to pay is $850.
<h3>Penalty amount:</h3>
Using this formula
Penalty amount=(Tax return×Tax rate)×2
Where:
Tax return=$8,500
Tax rate=5%
Let plug in the formula
Penalty amount=( $8,500 x 5%) x 2
Penalty amount=$425×2
Penalty amount=$850
Inconclusion the amount of penalty that Victoria will have to pay is $850.
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