1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ksenya-84 [330]
3 years ago
7

Joe Chin bought a house for $180,000. He made a 20% down payment. Joe secured a loan for the balance of the purchase price at 6.

5% interest for 30 years. What will be the monthly payments on the loan? (do not use commas or dollar signs in your answer)
Business
1 answer:
Ivan3 years ago
6 0

Answer:

  910.18

Explanation:

After Chin's down payment the amount borrowed is ...

  (1 - 20%)($180,000) = 0.80·$180,000 = $144,000

The amount of the payment is given by the amortization formula ...

  A = P(r/n)/(1 -(1 +r/n)^(-nt))

for P borrowed at rate r for t years, compounded n times per year.

  A = 144000(0.065/12)/(1 -(1 +.065/12)^(-12·30)) = 910.18

The monthly loan payments will be 910.18.

You might be interested in
Harriet died before she had a chance to prepare a will. What will MOST likely happen to her estate?
timofeeve [1]

Answer:

the answer is d!

Explanation:

I hope this helps

8 0
3 years ago
According to Nobel economist Frederich von Hayek, law that secures __________ rights in modern society is a prerequisite to priv
katrin [286]

The rights which Nobel economist Friedrich von Hayek, law that secures and was a prerequisite to private enterprise is

  • Property Rights

<h3>What is Property Rights?</h3>

This refers to the inalienable rights which a property owner has as to how he chooses to rent, lease, let or sell his property or live there.

With this in mind, we can see that the main thing which Friedrich von Hayek believed was a prerequisite to private enterprise was property rights.

Read more about property rights here:
brainly.com/question/14106012

6 0
2 years ago
The Fed announced in September 2013 that it would postpone winding down its monetary stimulus until the economic recovery was st
kolezko [41]

Answer:

A) interest rates will rise.

Explanation:

When the FED buys US securities it is carrying out an expansionary monetary policy. It reduces the interest rate of US securities so that more investors are willing to sell their US securities to the FED since their rate of return is very small.

If the FED stops buying back US securities, it means that they will stop their expansionary monetary policy, so the FED will start to increase US securities' interest rates. That way investors will be willing to keep their US securities and will not sell them since their rate of return has increased. This increase in the interest rate will lower the price of US securities and decrease the money supply.

3 0
3 years ago
Simon Software Co. is trying to estimate its optimal capital structure. Right now, Simon has a capital structure that consists o
lidiya [134]

Answer:

14.35%

Explanation:

Simon Software Co

rs= 12%

D/E = 0.25

rRF= 6%

RPM= 5%

Tax rate = 40%.

We are going to find the firm’s current levered beta by using the CAPM formula which is :

rs = rRF+ RPM

12%= 6% + 5%

= 1.2

We are going to find the firm’s unlevered beta by using the Hamada equation:

=bU[1 + (1 −T)(D/E)]

Let plug in the formula

1.2= bU[1 + (0.6)(0.25)]

1.2=(1+0.15)

1.2= 1.15bU

1.2÷1.15

1.0435= bU

We are going to find the new levered beta not the new capital structure using the Hamada equation:

b= bU[1 + (1 −T)(D/E)]

Let plug in the formula

= 1.0435[1 + (0.6)(1)]

=1.0435(1+0.6)

=1.0435(1.6)

= 1.6696

Lastly we are going to find the firm’s new cost of equity given its new beta and the CAPM:

rs= rRF+ RPM(b)

Let plug in the formula

= 6% + 5%(1.6696)

= 14.35%

3 0
3 years ago
Your auto insurance policy has a 200 monthly premiumand a 700 deductible. what is the maximum you will have to pay out of pocket
Alexus [3.1K]
$700 at any given time, but that is presuming that you have paid your monthly premiums every month without fail until the accident occurs.
4 0
3 years ago
Other questions:
  • If sellers do not adjust their quantity supplied at all in response to a change in price, the price elasticity of supply is
    13·1 answer
  • CalPERS, the California Public Employees Retirement System, manages over 240 billion dollars in assets. As an example of shared
    13·1 answer
  • A $300,000 bond was redeemed at 98 when the carrying value of the bond was $292,000. the entry to record the redemption would in
    15·1 answer
  • Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylen
    14·1 answer
  • While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only______ of
    9·1 answer
  • Ted is trying to decide what cost of capital he should assign to a project. Which one of the following should be his primary con
    15·1 answer
  • Monica wants to sell her share of an investment to Barney for $80,000 in 5 years. If money is worth 6% compounded semiannually,
    10·1 answer
  • Work in process inventory increased by $20,000 during the current year. Cost of goods manufactured was $180,000. Total manufactu
    12·1 answer
  • Practicing smiling and shaking hands with friends and family can help to ease your nerves before an interview or first meeting w
    5·1 answer
  • An underdeveloped economy in which communities use simple tools and traditional methods to harvest and hunt for food is called a
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!