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gavmur [86]
4 years ago
14

Five years ago you took out a 30-year mortgage with an APR of 6.5% for $200,000. If you were to refinance the mortgage today for

20 years at an APR of 4.25%, how much would your monthly payment change by?
Business
1 answer:
Oksi-84 [34.3K]4 years ago
6 0

Answer:

-$104.79

Explanation:

Current Mortgage Payment:

P/Y = 12,

N = 360,

I/Y = 6.5,

PV = $200,000,

Solve

for PMT = $1,264.14

Current Mortgage Balance:

P/Y = 12,

N = 300,

I/Y = 6.5,

PMT = $1,264.14,

Solve

for PV = $187,221.9

New Mortgage Payment:

P/Y = 12,

N = 240,

I/Y = 4.25,

PV = $187,222.54,

Solve

for PMT = $1,159.35

Current Payment - New Payment

= $1,159.35- $1,264.14

= -$104.79

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Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets
ArbitrLikvidat [17]

Answer:

The direct Labor for planning the budget of May would be closest to = $ 6.4 * 6900 = $ 44160

Explanation:

The direct Labor for planning the budget of May would be closest to = $ 6.4 * 6900 = $ 44160

The direct Labor for planning the budget of 6,900 units would be = $ 6.4 * 6900 = $ 44160

The direct Labor for planning the budget of 6,850 units would be = $ 6.4 * 6850 = $ 43840

So the difference between the budgeted direct labor and actual direct labor would be =$ 43840- $43,370 = $ 470

So the difference between the budgeted direct labor  for estimated output and actual direct labor would be = $ 44160- $43,370 = $ 790

3 0
3 years ago
A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the
Artemon [7]

Answer:

+$183,000

$0

+$183,000

Explanation:

Total assets increased by ($298,000 - $115,000) $183,000.

Total liabilities has no change

Total shareholder equity increased by ($298,000 - $115,000) $183,000.

4 0
3 years ago
Blossom, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $4,700 from sales $201
Nataly [62]

Answer:

Analysis of the Big Bart line discontinuity

Opportunity Costs :

Sales                                                        ($201,000)

Savings :

Variable Costs                                          $175,000

Fixed Costs ($30,700 - $19,800)              $10,900

Financial Advantage / (Disadvantage)     ($15,100)

Conclusion :

Do not eliminate / discontinue Big Bart line.

Explanation:

The results show that closing Big Bart line results in a contribution towards fixed cost being lost to the amount of $15,100. Therefore leaving the entire company in a worse off position.

7 0
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Svet_ta [14]

Answer:

Resources Mobilization Theory

Explanation:

It is theory of social movements that argues success movements gain traction by acquiring and successfully using resources to their advantage to achieve their goals.

7 0
4 years ago
If an error is recorded in a journal entry,
stiv31 [10]

Answer:

(D) all of these.

Explanation:

Accounting errors do occur when making journal entries. In such a case, if one is spotted, corrections are usually done by an accounting staff who is more experience and they are done as soon as they are discovered to avoid forgetting. The errors should not be erased, however, the accountant draws a strikethrough on the erroneous entry and writes the correct one above the cancelled error. Therefore, all the choices given are correct.

8 0
3 years ago
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