Since you are paying 20% up front, you are paying $45000 up front (.20*225000) which means you are borrowing
225000-45000 = $180,000.
Hopefully, you've learned the formula for figuring out the payment for an amortization problem. It is as follows:
A=P [(1+R/n)nt *R/n] / [(1+R/n)nt -1] A is the amount for each payment, P is the principal, r is the rate, n is the number of payments per year and t is the time in years
So A = 180000 [(1+.065/12)12*30 * .065/12] / [(1+.065/12)360 -1]
A = 180000 [ .037872239/5.991797982]
A = 1137.72
So you will have 360 payments of 1137.72. So over the 30 years, you will pay 360 * 1137.72 = $409,579.20 and you only borrowed 180,000, which means when you subtract them, you'll have 229,579.20 in interest.
Hope this helped.
Answer:
C Liabilities are understated, and net income is overstated.
Explanation:
To accrue for interest expense, the required entries are;
Debit Interest expense (p/l)
Credit Accrued Interest (B/s)
Being entries to recognize accrued interest expense.
If this is not posted, liabilities and expenses for the period would be understated. As such, net income would be overstated.
Hence the right answer is C Liabilities are understated, and net income is overstated.
An international business is any firm that engages in cross-border trade or investment.
What is cross-border?
A cross border trade or investment is a trade or investment involving two or more countries where the parent company based in one country establishes another business in another country.
International businesses which are also known as the multinational companies transcends beyond one country since diversification of investments and trade is key to enhancing overall business performance
Find out more about international business on:brainly.com/question/14690606
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Answer:
Amortization table
Opening liability Installments Interest Principal payment Closing liability
139,108 18000 1211 16788.92498 122,319
122,319 18000 1043 16956.81423 105,362
105,362 18000 873 17126.38238 88,235
88,235 18000 702 17297.6462 70,938
70,938 18000 529 17470.62266 53,467
53,467 18000 354 17645.32889 35,822
35,822 18000 178 17821.78218 18,000
18,000 18000 0 0 0
Bill Gates (1955-), is a well-known American entrepreneur, investor. Gates launched Microsoft and has been on the Forbes since 1987. He was born and raised in Seattle, Washington and still currently lives in Seattle.
