<span>Political Socialization The induction of individuals into the political culture; learning the underlying beliefs and values on which the political system is based. gener gap A distinctive pattern of voting behavior reflecting the differences in views between women and men.Democracy the opportunity to take part in the nation's governmental and policy making processes and to have some say in determining how he or she is governed, including the right to vote in elections.</span>
Answer:
a. Assuming that fixed payments are to be made monthly for three years and that the loan is fully amortizing, what will be the monthly payments? What will be the loan balance after three years?
- monthly payment = $997.95
- principal balance after 36th payment = $145,090.59
b. What would new payments be beginning in year 4 if the interest rate fell to 6 percent and the loan continued to be fully amortizing?
- monthly payment = $905.34
c. In (a) what would monthly payments be during year 1 if they were interest only? What would payments be beginning in year 4 if interest rates fell to 6 percent and the loan became fully amortizing?
a. $875
b. $935.98
Explanation:
A 3/1 adjustable rate mortgage is a 30 year mortgage where the interest rate is fixed for the first 3 years, and then it can vary.
I prepared an amortization schedule that shows the first 3 payments with a 7% interest rate and then the rest of the payments will carry a 6% interest rate.
The monthly payment for the first 36 months is $997.95 (principal balance after 36th payment $145,090.59), then it decreases to $905.34 per month.
See amortization schedule 1
if the monthly payments only covered interest expenses during the first 3 years, they would be $150,000 x 7%/12 = $875
then the monthly payments would be $935.98.
See amortization schedule 2
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
pdf
</span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
pdf
</span>
Answer:
Explanation:
The journal entry is shown below:
1st July Debit Prepaid insurance $13620
Credit Cash $13620
31st December Debit Insurance expenses $2270
Credit Prepaid insurance $2270
Insurance expense was calculated as:
= $13620/3 years × 6months/12months
= $4540 × 1/2
= $2270
Answer:
d. $100,000
Explanation:
<u><em>Ronaldo Soccer Shop</em></u>
<u><em>Income Statement</em></u>
Sales $100,000;
Cost of goods sold $46,000,
Operating expenses $34,000,
Interest expense $15,000,
Income tax expense $2,000,
Net Income $3,000
The vertical analysis of the income statement is performed by dividing each of these income statement line items by the total sales.
Vertical Analysis ( income Statement) = (Income Statement Item/ Total Sales )* 100
The financial statement that reports whether the business earned a profit and also lists the revenues and expenses is called the Income Statement.
Financial Statements basically are written records that tell the financial position of a company over a particular time period. Financial Statements are audited by Government agencies or accountants. Income statements mainly focus on the company's revenues and expenses during a certain time period.
When the expenses are subtracted from the revenue, the statement produces a company's profit which is called net profit. The income Statement covers a range of time, which is a year for annual financial statements and a quarter for quarterly financial statements.
Income statements provide an overview of net income, expenses incurred, revenue, and earnings per share. The income Statement is also referred as a profit and loss statement. Therefore the income statement tells the profit, revenue and expenses.
You can learn more about income statement at
brainly.com/question/15169974
#SPJ4
