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Alex73 [517]
2 years ago
15

You just acquired a home mortgage for 30 years in the amount of $184,500 at 4.65 percent interest, compounded monthly. How much

of the first payment will be interest if the loan is repaid in equal monthly payments
Business
1 answer:
alex41 [277]2 years ago
7 0

Answer:

EMI=P*r * (1+r)^n/(1+r)^n-1

Where EMI= equal monthly installments

P=Principal amount

r=rate of interest

n=numer of periods

Explanation:

P=$184,500

r=4.65%/12=.3875%

n=30*12=360

EMI=$184,500*.3875%*(1+.3875%)^360/((1+.3875%)^360-1)

EMI=$951

Interest in first monthly installment=$715

Principal Amount in first monthly installment=$236

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Answer:

$17,000

Explanation:

Leker's Old Property Adjusted Tax Basis = $20,000

To calculate the new basis, subtract the $3000 recieved in cash from the new property.

New Tax Basis; $20,000-$3,000= $17,000

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Answer:

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The amount Raul wants to invest on obtaining a seat on board of directors is $294,412.8

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