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vodomira [7]
4 years ago
6

You plan to purchase a $360,000 house using either a 30-year mortgage obtained from your local savings bank with a rate of 8.60

percent, or a 20-year mortgage with a rate of 7.50 percent. You will make a down payment of 15 percent of the purchase price.
a. Calculate the amount of interest and, separately, principal paid on each mortgage. What is the difference in interest paid
Business
1 answer:
Ksivusya [100]4 years ago
7 0

Answer:

The total amount of interest for a 30-year mortgage 8.6%pa and  a 20-year with 7.5% pa is $548,855 and $285,628 respectively.

The monthly principal repayment for a 30-year mortgage 8.6%pa and a 20-year with 7.5% pa is $850 and $1,275 respectively, but the total is same as loan amount of $306,000.

Explanation:

The mortgage loan will be $306,000 (= 85% * $360,000)

Assuming the installment is monthly, then the interest and principal on each mortgage is as calculation attached

Download xlsx
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Brady corp. is considering the purchase of a piece of equipment that costs $20,000. projected net annual cash flows over the pro
katovenus [111]

Answer:

B

Explanation:

Payback period is the total time it takes an organization to recover the initial capital incurred in acquiring an asset.

It is expressed in years and fraction of years.

Initial investment    20,000

Year 1                                                 3000               17000

Year 2                                                 8000               9000

Year 3                                                 15,000

9000/15000= 0.6 years

The payback period = 2.6 years

5 0
4 years ago
True or False?
LiRa [457]
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3 0
3 years ago
The sale of a new brand of flavored water, taste funny, soared after it was used in many scenes in the latest blockbuster action
alexgriva [62]
Classical conditioning, in psychology, is when you are self-conditioned by an active stimulus. This means that your perspective on a thing is influenced by how people respond to it. In this case, many people would watch a blockbuster action movie. Depending on how it was used, people will be curious and tend to think that that flavored water must be really delicious based on how the actor responded to it.
4 0
3 years ago
What formula would you enter to find the difference between the two dates shown?
Pavlova-9 [17]

Answer:

Hello! Your answer is, Below!

Explanation:

I believe it could be =B2-C4

Hope I helped! Ask me anything if you have any questions! Brainiest plz! Hope you make an 100% and have a wonderful day! -Amelia♥

6 0
3 years ago
Gundy Corporation produces area rugs. The following per unit cost information is available: direct materials $15, direct labor $
AlexFokin [52]

Answer:

$67.2

Explanation:

With regards to the above,

Total unit cost = $15 + $9 + $6 + $8 + $4 + $6 = $48

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Since markup percentage is 40% or 0.40

Therefore,

Target selling price = $48 × (1 + 0.4)

= $48 × 1.4

= $67.2

Therefore the target selling price is $67.2

6 0
3 years ago
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