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Scorpion4ik [409]
4 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]4 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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The Western and Pacific Railroad has two divisions, the Western Division and the Pacific Division. The company recently invested
erik [133]

Answer:

$3,286,722

Explanation:

Allocate the improvement cost on the basis of <em>miles traveled</em> by the respective divisions.

<u>Western Division </u>

improvement cost = (890,000 / (890,000+1,520,000)) × $8,900,000

                              = 890,000 / 2,410,000 × $8,900,000

                              = $3,286,722

7 0
4 years ago
In the specific factors model, a country's production possibility frontier is ________ because of ________." a straight line; di
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Answer:

a curved line; diminishing marginal returns

Explanation:

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The production possibility frontier is defined as the maximum combination of two products that can be produced by a country. The PPF tends to be curved because of the law of diminishing returns. As more of one factor of production is added it will result in reduced output of the product over time.

7 0
3 years ago
When targeting customers of the consumer population to market a
Delicious77 [7]

Answer:

The correct answer is A

Explanation:

Demographics information is the term which is described as the statistical data regarding the characteristics of the population like income, age and gender.

When the data assembles regarding the ages of the people and the genders, it would be an example of the information to be assembled regarding demographics.

Therefore, when the company want to target the customers of the consumer population to the market, the kind of the segmentation will help the company is the demographic information.

4 0
4 years ago
A company pays $20,000 for the rights to a well with 5 million gallons of water. If the company extracts 250,000 gallons of wate
Anestetic [448]

Answer:

b. $1,000

Explanation:

In this question we have to apply the unitary method which is shown below:

Given that

Payment = $20,000

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So, the total depletion would be

= (Payment × extracted gallons) ÷ (Number of gallons of water)

= ($20,000 ×  250,000 gallons) ÷ (5,000,000 gallons)

= $1,000

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Pani-rosa [81]

Answer:

A. The firm is growing.

Explanation:

6 0
3 years ago
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