Yummy Foods purchased a two-year fire and extended coverage insurance policy on August 1, 2016, and charged the $4,320 premium t
1 answer:
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Answer:
$4235350.
Explanation:
Given: Estimated fair value of the equipment= $1000000.
Estimated fair value of the building= $7000000.
Estimated fair value of the land= $2000000.
One Purchase price of equipment, building and land= $6050500.
First finding the allocated percentage share of building.
Total amount shared by building, land and equipments=
∴ Total amount shared by building, land and equipments=
Allocated percentage share of building=
⇒ Allocated percentage share of building=
∴ Allocated percentage share of building=
Now, calculating amount would the company record the building.
Amount recorded for the building=
⇒ Amount recorded for the building=
∴ Amount recorded for the building= .
Hence, amount that company would record for building is $4235350.
Answer:
20 years mortgage:
maximum loan $ 209, 371.16
interest paid $ 150,628.84
30 years mortage
maximum loan $ 250,187.4216
interest paid $ 289,812.58
Explanation:
20 years mortgage:
C 1,500.00
time 240 (20 years x 12 months)
rate 0.005 ( 6% annual / 12 months per year)
PV $209,371.1575
Quota x number of cuotas - principal = total interest
1,500 x 240 - 209,371.16 = 150628.84
30 years mortgage
C 1,500.00
time 360
rate 0.005
PV $250,187.4216
Quota x number of cuotas - principal = total interest
1,500 x 360 - 250,187.42 = 289,812.58