Answer:
The Estimated Monthly Mortgage Payment
= $2,810.81
Explanation:
Data and Calculations:
House price = $475,000
Down payment = $100,000
Percentage of down payment = 21.05% ($100,000/$475,000 * 100)
Finance period = 15 years = 180 months (15 * 12)
Nominal annual interest compounded monthly = 4%
The estimated monthly mortgage payment using an online finance calculator:
Monthly Pay: $2,810.81
House Price $475,000.00
Loan Amount $380,000.00
Down Payment $95,000.00
Total of 180 Mortgage Payments $505,946.54
Total Interest $125,946.54
Mortgage Payoff Date Jan. 2036
Answer:
The answer is C.
Explanation:
In a competitive market, all firms produce identical goods and services. No firm or seller can influence the prevailing market price. To increase their revenue, firms must increase their outputs.
In this industry, firms make economic profit(revenue minus accounting cost minus implicit cost) in the short run but this economic profit reduces to zero in the long run because more firms that are attracted by the short run profit can enter the industry freely. Firms can also exit with little or no cost.
Answer:
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