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Semenov [28]
3 years ago
13

You borrowed $185,000 for 30 years to buy a house. The interest rate is 4.35 percent, compounded monthly. If you pay all of your

monthly payments as agreed, how much total interest will you pay on this mortgage
Business
1 answer:
Afina-wow [57]3 years ago
5 0

Answer:

$495,614.80

Explanation:

The interest paid will be the total amount paid minus the principal amount.

The amount paid after 30 years using compound interest will be

the future amount. Interest rate is compounded monthly . There are 12 compounds in a year, equivalent to 360 after 30 years.

interest is 4.35 per year or 4.35/12 per month

FV = P x ( 1+ r)N

Fv = 185,000 x ( 1+ 0.3625/100)360

Fv = 185,000 x (1.003625)30

Fv = 185,000 x 3.67899783

Fv = 680,614.60

Interest paid will be = $,614.80 - $185,000.00

=$495,614.80

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Advances in technology like the creation of cheap, lightweight laptops has allowed workers to work from almost anywhere. Please
andriy [413]

Answer:

Got this from the same website you used

Explanation:

Advances in technology like the creation of cheap, lightweight laptops have allowed workers to work from almost anywhere. TRUE.

5 0
2 years ago
Why should you memorize your social security number rather then carry your social security card in your wallet? Explain why you
kakasveta [241]

Answer:

Hmm.

Explanation:

  • Why should you memorize your social security number rather than carry your social security card in your wallet?

One big reason why you should NOT carry your social security number on you is that you could get robbed at ANY moment. And if someone has your Social security number, then they could slander your name.

  • Explain why you will need to provide your social security number to employers.

You will need to provide your social security number to employers because they need to make sure that you are you.

<em>'Why do employers need my social security number? If an employer decides to extend you an offer, they will eventually need your social security number to verify your identity and work authorization and perhaps to complete a background check. However, they don't need it in the initial hiring phase.'</em>

4 0
3 years ago
The restaurant's total cost is a mixed cost that depends on customers served. The restaurant's management uses the high-low meth
harina [27]

Answer:

$29,390

Explanation:

For computing the total cost first we have to determine the variable cost per customer and the fixed cost which is shown below:

Variable cost Per Customer is

= (High total cost - low total cost) ÷ (high number of customer served - low cost of customer served)

= ($28,934 - $28,241) ÷ (14,100 - 11,214)

= $0.24

Now

Fixed cost is

= High cost - (high number of customer served × variable cost per customer)

= 28,934 - (14,100 × 0.24)

= $25,550

So, the total cost for 16,000 customers is

= Fixed cost + variable cost

= $25,550 + (16,000 × $0.24)

= $29,390

7 0
3 years ago
(1 point) Sam is applying for a single year life insurance policy worth $69,800.00. If the actuarial tables determine that she w
zepelin [54]

Answer:

The expected value might go down by $308.

Explanation:

Find the expected value of life insurance if the premium is $393.00

Do (393) * (0.99) - (69800) * (0.01)

The answer will be:

(393) * (0.99) - (69800) * (0.01) = -308

6 0
3 years ago
Kinh tê chính trị mục đích của công thức k=c+v
Fynjy0 [20]

Answer:

Explanation:

.

8 0
3 years ago
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