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inysia [295]
2 years ago
7

The condominium at the beach that you want to buy costs $249,500. You plan to make a cash down payment of 20 percent and finance

the balance over 10 years at 6.75 percent.
What will be the amount of your monthly mortgage payment?
Business
1 answer:
Sliva [168]2 years ago
4 0

Complete question:

The condominium at the beach that you want to buy costs $249,500. You plan to make a cash down payment of 20 percent and finance the balance over 10 years at 6.75 percent. What will be the amount of your monthly mortgage payment?

a. $2,291.89

b. $2,809.10

c. $3,287.46

d. $3,412.67

e. $4,145.68

Answer:

$2,291.89 will be the amount of your monthly mortgage payment

Solution:

A mortgage interest is considered the principal balance.

Every month you spend a portion of your monthly mortgage payment in order to pay off another principal or mortgages debt and a portion of the monthly payments will be charged into interest on the loan.

249500 x 20%= 49900

Amount financed = 249500-49900 = 199,600

Enter  10×12      6.75/12    199,600                  0

            N               I/Y           PV       PMT     FV

                                                       -2,291.89

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In NIMS, resource inventorying refers to preparedness activities conducted _________ (of) incident response.
liubo4ka [24]

Answer:

The correct answer is a) outside

Explanation:

The Incident Resource Inventory System (IRIS) emphasizes the ability to check resources and share resource information with other agencies. The users can choose specific resources for mutual aid purposes based on specific requirements.

In NIMS, resource inventorying refers to preparedness activities conducted outside of the incident response.

4 0
3 years ago
Bourne Incorporated reports a cash balance at the end of the month of $2,395. A comparison of the company's cash records with th
Brilliant_brown [7]

Answer:

Increase in Cash/bank = $1000+ $26 = $1026

Decrease in Cash/bank = $76+$260 = $336

Explanation:

The entries for each transaction is as follows:

1- Bank service charges:

Service charges exp Dr $76

                               Bank  Cr $76

(Note: Bank has provided us with banking services, the charges of which is an expense for Bourne incorporated and the settlement of which will reduce our bank balance, a credit.)

2- NSF check from a customer:

Entry:

Acc receivable Dr $260

                        Bank Cr $260

(Note: A NSF check is a non-sufficient funds check which implies that the customer doesn't have sufficient funds to pay for whatsoever services rendered by us. Upon receipt of such a check we must have increased our bank and decreased our receivable but since it has been dishonored we need to reverse the entry by decreasing our bank and increasing our receivable balance until it's settled by the customer.)

3- Customer's note receivable collected by the bank:

Entry:

Bank Dr $1000

     Receivable Cr $1000

(Note: Bank has received a note against a receivable which results in an increase in our bank balance and decrease in or respective customer account and/or receivable.)

4- Interest earned:

Entry:

Bank Dr $26

   Interest income Cr $26

(Note: The money deposited by Bourne Incorporated has earned interest which by nature is an income for Bourne. So Bank is debited and interest income is credited to increase both bank and income simultaneously.)

4 0
3 years ago
When you view a selection at Amazon and see "Customers who bought this (item) also bought ...," you are seeing the application o
Dima020 [189]

Answer: collaborative filtering

Explanation:

Collaborative filtering is a technique thta helps to filter out the things that a user can like base on how other identical users react. Here, a small sample of the people with similar taste will be chosen from a larger group.

When you view a selection at Amazon and see "Customers who bought this (item) also bought ...," you are seeing the application of collaborative filtering.

5 0
3 years ago
Exercise 25-08 Pierre’s Hair Salon is considering opening a new location in French Lick, California. The cost of building a new
Bas_tet [7]

Answer: 14%

Explanation:

To calculate the Annual Rate of Return on such a project, you divide the Average net profit that the project is expected to make by the Average investment value.

This in effect compares future income to the investment in the project and so is a very useful tool in analysis.

Annual Rate of Return = Average Net Profit / Average Investment

Average Net Profit.

A new salon will normally generate annual revenues of $64,160, with annual expenses (including depreciation) of $40,500.

The net profit is revenue less expenses so,

= 64,160 - 40,500

= $23,660

Average Investment

The Average Investment is calculated by taking the average of the Initial Value of the project and it's ending value.

Initial value is $262,000 as that was the cost.

The Ending Value is the salvage value of $76,000.

= (262,000 + 76,000) / 2

= $169,000

The Annual Rate of Return is,

= 23,660 / 169,000

= 0.14

= <u>14%</u>

6 0
3 years ago
Haddon's matrix is useful for addressing injury issues because:
Alex787 [66]
Hey there,
The answer is <span>Models interaction of host, vector, and environment in the event.

Hope this helps :))

~Top
</span>
7 0
3 years ago
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