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
Westkost [7]
3 years ago
7

Kingston Development Corp. purchased a piece of property for $2.79 million. The firm paid a down payment of 15 percent in cash a

nd financed the balance. The loan terms require monthly payments for 15 years at an annual percentage rate of 7.75 percent, compounded monthly. What is the amount of each mortgage payment?
A. $22,322.35
B. $23,419.97
C. $23,607.11
D. $24,878.15
Business
1 answer:
Anni [7]3 years ago
4 0

Answer:

A. $22,322.35

Explanation:

The monthly mortgage payment which shall be paid by the Kingston Development Corp for the property shall be determined using the the following mentioned formula:

Amount to be financed=R[(1-(1+i)^-n)/i]

In the given question:

Amount to be financed=85%*$2,790,000=$2,371,500

R=monthly payments to be made today=?

i=interest rate per month=7.75/12=0.646%

n=number of payments involved=15*12=180

$2,371,500=R[(1-(1+0.646%)^-180)/0.646%]

R=$22,325.07

So based on the above calculation, the answer shall be A. $22,322.35

You might be interested in
What are two ways someone could earn money on a real estate investment? 1.) Residents pay to have the floors cleaned. 2.) Owner
zaharov [31]
Owner could sell a property he or she fixed up.
Residents pay rent to the owner.
8 0
3 years ago
Read 2 more answers
One guide to choosing a leadership approach uses a series of questions. For example, "Is decision quality highly important?" or
Sauron [17]

Answer: Vroom and Yetton's normative decision model.

Explanation:

The Vroom–Yetton normative decision model is a situational leadership theory of industrial and organizational psychology that was developed by Victor Vroom, in collaboration with Phillip Yetton and later with Arthur Jago. The situational theory argues the best style of leadership is contingent to the situation.

Regarding decision making, the Vroom-Yetton model suggests that being autocratic, seeking advice, considering alternative approaches before a decision is made, informing a group on an issue, and letting that group develop the solution without forcing your own ideas are all important at times.

5 0
4 years ago
Which is an example of a withholding you might see on your pay stub.
snow_tiger [21]

Both A and B (Health Insurance and Retirement Savings) are an example of a withholding you might see on your pay stub.

<h3>Further explanation </h3>

A withholding tax is the income tax paid to the government by the payer of the income rather than by the recipient of the income. Withholding allowance is an exemption that reduces how much income tax of an employer deducts from an employee's paycheck.

A pay stub also known as a paycheck stub or pay slip is the document that itemizes how much employees are paid. It is that outlines the details of their pay of each pay period.

The pay stub include:

  • Gross wages (the amount you earn before deductions)
  • Tax deductions (federal, state, and local taxes, social security, medicare)
  • Other deductions (health insurance, life insurance)

Both A and B (Health Insurance and Retirement Savings) are an example of the withholding you might see on your pay stub. Health insurance is the insurance against illness, accident, injury, poisoning also life threatening conditions.

<h3>Learn more</h3>
  1. Learn more about health insurance brainly.com/question/10257913
  2. Learn more about retirement savings brainly.com/question/10344819
  3. Learn more       about withholding tax brainly.com/question/13401026

<h3>Answer details</h3>

Grade:        9

Subject:  business

Chapter:  pay stub

Keywords:  pay stub, health insurance, withholding tax, retirement savings,  paycheck

3 0
3 years ago
Read 2 more answers
My boss does not get the technical aspect of the job my group is trying to complete. I understand the intricacies of the project
Setler79 [48]

The given situation is called as “Expectation Management”

<u>Explanation: </u>

"The management of expectations is one of the most powerful weaponry in psychological warfare. In managing expectations people instinctively disregard other people's thoughts and then use the technique intentionally, considering own ideas as they reveal them to other people."

The manager knows just well the essence of your venture, his point of view is a little different from yours and you have to understand his point of view (or even more) because he wants to comprehend yours.

Therefore, the manager is less involved in the execution and the technical aspects of operation than can the performance and how it works to meet its organizational goals. And that's how you should refer to the manager. Clearly, your ability to provide is limited, depending on how many hours you work every day.  

Any requests he makes, create scope, calculate the cost (how fast), and ask him to give priority to other demands. On this basis, you can determine when you can provide what.

6 0
4 years ago
Which is the most liquid form of money?
dalvyx [7]
The answer is A - I just took the test!
8 0
3 years ago
Read 2 more answers
Other questions:
  • Sailmaster makes high-performance sails for competitive windsurfers. Below is information about the inputs and outputs for one m
    5·1 answer
  • Which of the following is regulated by the FLSA? A. Affirmative action B. Health and safety procedures C. Labeling of food produ
    12·2 answers
  • Just For Me is a line of hair care products for pre-teenage girls, that is, girls between the ages of eight and twelve. This is
    5·1 answer
  • Explain how global economic concerns could impact the operating environment of a business? (2 Marks)
    9·1 answer
  • Assume that a war breaks out abroad, and foreign investors choose to invest more in a large safe country, the United States. The
    12·1 answer
  • Landrum voluntarily assigns his transferable interest in a partnership to McClendon. This act does not by itself result in the d
    8·1 answer
  • Cecelia’s government provides for her basic needs. In return, Cecelia works in the factory downtown, as she always has since the
    14·2 answers
  • How important are the development of the many management theories<br>​
    15·1 answer
  • Are there items that would receive the same share?​
    12·1 answer
  • Which curve shifts and in which direction when the following events occur in the domestic car market?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!