Under a periodic inventory system: ______.a. the current inventory available for sale is always known. b. the merchandise invent
1 answer:
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Answer:
Ans. A) $9,314.45
Explanation:
Hi, first we have to bring to present value the monthly payments to be made for 30 years (360 months). In order for this to be useful, we have to convert this annua compounded monthly rate (6.25%) to an effective rate, that is 6.25% / 12 = 0.5208%. Now, when we find this present value, we are going to substract it from the price of the house and that is the value of the down payment. But let´s just go ahead and do it together.
We have to use this formula to bring to present value the $1,595.85 monthly payments, for 30 years (360 months) at a rate of 6.25% (0.5208% monthly).
It should look like this
Now, let´s go ahead and find the down payment.
So, the answer is a). $9,314.45
Best of luck.
Answer:
-5/6
Explanation:
Fist find the common denominators of the two
Then you that minus sign in front of the fraction that means its negative
although theres an addition sign where subtracting fractions.
given it's in this order the fraction will be negative
:D