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lana [24]
3 years ago
15

.Given the following information on an interest-only mortgage, calculate the monthly mortgage payment. Loan amount: $56,000, Ter

m: 15 years, Interest Rate: 7.5%.
Business
1 answer:
Lyrx [107]3 years ago
8 0

Answer:

The monthly loan interest = $350

Explanation:

<em>Loan amortization (repayment mortgage)</em>

A repayment mortage is such that a mortgage is repaid using a series of equal installments . Each installmet pays the interest accrued and a portion of the loan

<em>Interest only-mortgage</em>

On the other hand, under an interest only mortgage the borrower is required to pay only the interest due on the loan monthly , the principal can be paid in a lump sum at the end of the loan period.

The advanatage of an interest only mortgage is that it makes mortgage very accessible and affordable. However, the borrower will still be owing the principal amount of the mortgage at the end of the loan period, which might mean a cash flow pressure.

We can work out the monthly pay for an interest only mortgage as foolws:

Monthly repayment =( Loan amount× rate (%) × year)/(year × 12)

The monthly loan interest = (56,000× 7.5% × 15)/12×15

                                    =$350

The monthly loan interest = $350

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Marta_Voda [28]

Answer:

A. Final sales price reduced by cost to complete after split-off.

Explanation:

Net realizable value (NRV) is explained here to be the value of an asset that can be realized upon the sale of the asset, less a reasonable estimate of the costs associated with the eventual sale or disposal of the asset. It is a common method used to evaluate an asset's value for inventory accounting. NRV is a valuation method used in both Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).

Many business transactions allow for judgment or discretion when choosing an accounting method.

A conservative approach means that the accountant should use the accounting method that generates less profit and does not overstate the value of assets.

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3 years ago
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Sloan [31]

Answer:

Explanation:

1 5 6

7 0
2 years ago
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The 20% off sale is a better deal than the $200 rebate or $150 coupon for the $1,500 dining set. the porters budgeted $1,250 for
Sonbull [250]

Answer:

the answer is $ 300

Explanation:

because by subtracting 1,500 - 1,200 it gives us 250 and the only one who gives us a similar pressure is multiply (1,500) (. 20) it gives us 300

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3 years ago
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If an individual investor uses the services of a broker to buy and sell stocks that are currently being traded in the stock mark
sergejj [24]

Answer:

a. False

Explanation:

A "primary transaction" refers to the selling of <em>new stocks and bonds</em> for the first time towards the public. A great example of this is the "Initial Public Offering" <em>(IPO)</em> which allows "public share issuance."

On the other hand, a "secondary transaction" refers to the<em> trading of investors among themselves.</em> There is no involvement of the issuing companies here. So, this means that if an investor uses the services of a broker to buy and sell stocks that are currently being traded in the stock market,<u> the transaction</u><u> doesn't directly involve the issuing compan</u><u>y.</u> This kind of transaction is then called "secondary."

So, this explains the answer.

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A company's board of directors votes to declare a cash dividend of $1.65 per share of common stock. The company has 33,000 share
umka21 [38]

Answer:

E) $45,375

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This is because Authorized shares are the total shares that the company can issue.

There is a difference between issued and outstanding shares of 500 shares, this may be because these shares are currently held by the company itself and thus dividends are payable only on outstanding shares

This gives us 27,500 * 1.65 = $43,375

4 0
3 years ago
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