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Amiraneli [1.4K]
3 years ago
15

A buyer with a $242,000 loan has a monthly principal and interest payment of $1,317.66. If $1,033.54 is interest, what’s the new

principal balance after the first payment is applied?
Business
1 answer:
Sladkaya [172]3 years ago
4 0

Answer:

$‭241,715.88‬

Explanation:

Loan amount = $242,000

1st Installment = $1,317.66

1st installment is divided into principal repayment + interest

= 1st installment = principal repayment + interest

= 1,317.66 = P.repaid + 1,033.54

Principal repaid = 1,317.66 - 1,033.54 = ‭284.12‬.

Therefore, outstanding principal = loan amount - P.repaid

= 242,000 - 284.12

= $241,715.88

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3 years ago
A bond that pays interest annually yields a rate of return of 7.50 percent. The inflation rate for the same period is 2 percent.
Jlenok [28]

Answer:

5.39%

Explanation:

Given that,

Bond that pays interest annually yields a rate of return = 7.50 percent

Inflation rate for the same period = 2 percent

Real rate = [(1 + nominal rate) ÷ (1 + inflation rate)] - 1

Real rate = [(1 + 0.0750) ÷ (1 + 0.02)] - 1

               = (1.075 ÷ 1.02) - 1

               = 1.0539 - 1

               = 0.0539 or 5.39%

Therefore, the real rate of return on this bond is 5.39%.

7 0
3 years ago
Two independent companies, Denver and Bristol, each own a warehouse, and they agree to an exchange in which no cash changes hand
Schach [20]

Answer and Explanation:

The journal entries are shown below

1.

On Denver books

Equipment Dr $17,000

Accumulated depreciation $60,000

Loss on sale of equipment $3,000

                  To Equipment $80,000

(Being equipment recorded)

On Bristol books

Equipment Dr $17,000

Accumulated depreciation $25,000

          To Gain on sale of equipment $10,500

          To Equipment $31,500

(Being equipment recorded)

2.

On Denver books

Equipment Dr $20,000

Accumulated depreciation $60,000

                  To Equipment $80,000

(Being equipment recorded)

On Bristol books

Equipment Dr $6,500

Accumulated depreciation $25,000

          To Equipment $31,500

(Being equipment recorded)

7 0
3 years ago
Dividends at FSL are expected grow at a rate of negative 5.4% per year (the dividends are getting smaller). The stock just paid
Crank

Answer:

$21.37

Explanation:

g = -5.4%

D0 = $3.93

D1 = D0 (1+g)

D1 = 3.93*(1-0.054)

D1 = 3.93*0.946

D1 = 3.71778

Investors require a return (ke) of 12%

P0 = D1/(ke - g)

P0 = 3.71778 / (12% - (-5.4%)

P0 = 3.71778 / (12% + 5.4%)

P0 = 3.71778 / 17.4%

P0 = 3.71778 / 0.174

P0 = 21.3665517

P0 = $21.37

So, the expected price of the stock next year is $21.37.

5 0
3 years ago
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