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Gre4nikov [31]
3 years ago
5

Suppose a potential home buyer is interested in taking a fully amortizing $500,000 mortgage loan that has a term of 30 years and

a fixed mortgage rate of 5.25% payable monthly. What is the total interest and principal paid over the first five years (60 payments)
Business
1 answer:
pav-90 [236]3 years ago
4 0

Answer:

Principal $500,000

Interest payment is $69,580

Explanation:

Loan Payment Includes the principal and interest payment.

Loan Payment per month = r ( P ) / 1 - ( 1 + r )^-n

r = rate per period = 5.25% per year = 5.25%/12 per month

n = number of payments = 60 months

P =  Loan Amount = $500,000

P = 5.25%/12 ( $500,000 ) / 1 - ( 1 + 5.25%/12 )^-60

P = $9,493 per month

Total Payment = $9493 x 60 = $569,580

Principal Payment = $500,000

Interest Payment = $569,580 - $500,000 = $69,580

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Charlie is a manager who, every week, has to review and approve reports, monitor the performance of subordinates, set the vision
Illusion [34]

Charlie is a manager who, every week, has to review and approve reports, monitor the performance of subordinates, set the vision and goals for the team, set the structure for the team, and communicate with executives. However, Charlie seems to be in meetings all of the time and has little time to review and approve reports. Charlie is most likely experiencing a hard time at work

<h3>Who is a manager?</h3>

A manager is a leader who have people who directly reports to him. He is charged with the duty of supervision am ensuring that a company goal and objective is achieved.

Therefore, Charlie seems to be in meetings all of the time and has little time to review and approve reports. Charlie is most likely experiencing a hard time at work.

Learn more on manager below

brainly.com/question/24708179

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6 0
2 years ago
Suppose Ms. Smith sells her 2018 Honda Fit next year. The original cost of the
Greeley [361]

Answer:

C

Explanation:

Cost=10000

Accumulated depreciation=3000

Sales price=9000

Net value=10000-3000=7000

Gain=9000-7000=2000

7 0
3 years ago
Deluxe Building Services offers custodial services on both a contract basis and an hourly basis. On January 1, 2015, Deluxe coll
algol [13]

Answer:

Since there is not enough room here, I prepared the financial statement effects template on an excel spreadsheet that I attached.

a)

January 1, unearned revenue

Dr Cash 30,150

    Cr Unearned service revenue 30,150

b)

January 31, accrued services

Dr Unearned service revenue 5,025

    Cr Service revenue 5,025

c)

January 31, service revenue from hourly custodial work

Dr Accounts receivable 570

    Cr Service revenue 570

Download pdf
4 0
3 years ago
If the minimum wage increased in the city limits of Louisville, but did not increase across the river in Indiana, what effect mi
8_murik_8 [283]

Answer:

PART A

(1) Increase in demand for employment in Louisville than in Indiana.

(2) Migration of workers from Indiana to Louisville.

(3) A higher standard of living in Louisville than in Indiana.

(4) High cost of doing business in Louisville than in Indiana.

PART B

(1) increase in population of workers in Louisville.

(2) Increase in inflation in Louisville

(3) High standard of living in Louisville.

PART C

(1) Migration of the workforce from Indiana

(2) Reduced population of workers in Indiana.

Explanation: Minimum wage is an Economic term used to describe the lowest amount of money below which no worker who is employed within an economy should be paid.This term is usually concerned with those employed in the formal sectors of the economy in both the Private and public sectors, it is usually legally approved.

THE HIGHER THE MINIMUM WAGE IN AN ECONOMY THE HIGHER THE RATE OF MIGRATION FROM OTHER ECONOMIES INTO THE ECONOMY.

7 0
3 years ago
Moss and Barber organize a partnership on January 1. Moss’s initial net investment is $75,000, consisting of cash ($17,500), equ
Olegator [25]

Answer:

journal entries are as given below

Explanation:

solution

journal entries are as

first we get here investment by Moss

date                 account title                                 debit             credit

January 01       cash                                             $17500

                        equipment                                   $82500

                        note payable                                                     $25000

                        Angela Moss capital                                         $75000

and now we get investment by barber

date                 account title                                 debit              credit

January 01       cash                                              $31250

                        autumn barber capital                                       $31250

4 0
3 years ago
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