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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.

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Department A had no Work-in-Process at the beginning of the period, 1,400 units were completed during the period, 400 units were
OLEGan [10]

Answer:

The total cost of the departmental Work-in-Process Inventory at the end of the period = $ 8200

Explanation:

                                  Units           % of                             EUP

                                                   Completion         D.Materials    Conversion

                                                                                                         Costs

                         No Of Units

Completed            1400              100                1400                  1400

<u>Units In Process      400               50%               400                    200  </u>

<u>Total                       1800                                   1800                     1600</u>

Ending Inventory Valuation

Working:

Direct Materials = $( 25,200/ 1800 )*400= $5600

Conversion Costs= ($ 20800/1600)*200= $2600

Total Ending Inventory Costs= $5600+$2600= $ 8200

Direct materials (1,800 at $14.00) $25,200

Direct labor 12,480

Factory overhead 8,320

Total Manufacturing Costs    $ 46000

4 0
3 years ago
Durango, Inc. purchased a parcel of land for $450,000. It paid attorney fees of $3,000 to verify title to the land. In addition,
Crank

Answer:

D. $460,500

Explanation:

Given that

Cost of parcel of land = 450000

Legal fees = 3000

Broker's fees = 7500

Therefore,

Amount recorded as cost of parcel of land is

Cost of parcel of land + legal fees + brokers fee

= 450000 + 3000 + 7500

= $460,500

When purchasing land, fees like commissions, legal fees, bank fees, title fees and other expenses added before the land can be used are considered as part of the land's cost. Hence the answer.

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3 years ago
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What can communicators do to ensure facts, rather than vague impressions, are shared?
mars1129 [50]

I believe the answer is: Use concrete language with specific detail

Concrete language refers to a form of language that give clear understanding regarding the content of the message to the audiences. Expert communicators tend to do this by making sure that the term or lingo that they use is appropriate and could easily be received by the audiences.

7 0
4 years ago
If Vernon and his parents forget to file the FAFSA, what are the consequences?
butalik [34]
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3 0
4 years ago
Prime Company began operations in January, 2019, by issuing 5,700 shares of 9%, cumulative, $65 par value preferred stock and 25
8090 [49]

Answer:

Preference dividend = 9% x $65 x 5,700 shares

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Explanation:

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6 0
3 years ago
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