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Scorpion4ik [409]
3 years ago
9

Kathy fields wants to buy a condominium selling for $95,000. The bank is requiring 20% down and is charging 9.5% interest for a

25 year loan. determine the amount required down payment and the amount of the monthly payment for the principal and interest.
Business
1 answer:
tatuchka [14]3 years ago
3 0

Answer:

The down payment is 19000 and monthly payment is 664.009

Explanation:

The purchase price of condominium = $95000

Down payment = 20%

Interest charged  = 9.5 %

Time period = 25 years

Down payment amount =  95000 × 20% = 19000

Remaining loan amount = $76000

Below is the calculation of monthly payment:

\text{Present vlaue of annuity} =\frac{A(1-(1+r)^{-n})}{r} \\A = monthy \ installment \\76000 = \frac{A(1-(1+ 0.095/12)^{-25\times 12})}{ 0.095/12} \\A(0.906112) = 601.667 \\A = 664.009

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Real per capita GDP in Singapore in 1960 was about $450, but it doubled to about $900.00 by 1977. a. What was the average annual
aleksandrvk [35]

Answer:

4.16%

Explanation:

to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):

future value = present value x (1 + r) ⁿ

  • future value = 900
  • present value = 450
  • n = 17
  • r = ?

900 = 450 (1 + r)¹⁷

(1 + r)¹⁷ = 900 / 450 = 2

1 + r = ¹⁷√2 = 1.0416

r = 1.0416 - 1 = 0.0416 or 4.16%

6 0
3 years ago
A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of its sales is donated
GuDViN [60]

Answer: The correct answer is "Cause-related marketing".

Explanation: This is an example of <u>Cause-related marketing.</u>

Cause-related marketing is a type of corporate social responsibility activity, for which a business promotion campaign has a dual purpose: to increase profitability and improve society.

In this case, the supermarket chain seeks to increase its sales, promoting that 1% of these will be donated to local after-school programs for underprivileged youth.

3 0
3 years ago
Masterson Company's budgeted production calls for 68,000 units in April and 64,000 units in May of a key raw material that costs
Finger [1]

Answer:

The budgeted materials needed in units for April = 67000 litres

Explanation:

The budgeted  production for April = 68000 units

The budgeted  production for may = 64000 units

The cost of raw material per unit = $1.70 per unit

It is given that at the end of each month the inventory should be = 25%

The April 1 inventory = 17000 units

Now calculate the material required for April production:= [ Materials needed + ending inventory requirements - beginning inventory available ]= [ 68000 + (64000 × 25%) – 17000 ] = 67000 Litres

Therefore, the budgeted materials needed in units for April = 67000 litres

7 0
3 years ago
Molave Furniture Company plans to launch a new website. Lila, the company's CIO, thinks that the company can better reach its cu
Kisachek [45]

Answer:

<u>e-commerce</u>.

Explanation:

When Molave ​​Furniture Company wants to launch a new website to customize the ability for customers to shop online and thereby increase sales, it is an e-commerce promotion strategy.

In order for Lila to be able to effectively promote e-commerce, it is essential that the focus is on optimizing the customer experience, the site must be easily accessible, as well as a logistics service that ensures agility in receiving goods, as well as a efficient after sales service to answer questions and resolve purchase related issues.

4 0
3 years ago
Your friend wants to open a clothing shop. A necessary capital resource is a
saw5 [17]

Answer: Your friend wants to open a clothing shop. A necessary capital resource is a <u>place to open the shop.</u>

Explanation: Capital is the element constituted by money and infrastructure, which are needed to take advantage of human and natural resources in the productive process, considered as essential by the capitalists, since without money and other economic resources, companies cannot settle and industries, because they need it to have facilities, furniture, machinery, buy raw materials, pay staff, and so on.

6 0
3 years ago
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