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Ronch [10]
3 years ago
6

David borrows $230,000 to buy a house. The mortgage rate is 4.5 percent and the loan period is 25 years. Payments are made month

ly. If John pays the mortgage according to the loan agreement, how much total interest will John pay
Business
1 answer:
tiny-mole [99]3 years ago
3 0

Answer:

EMI  

Loan Amount 230000

Interest rate per period 0.00375

Number of periods 300

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,  

EMI= Equal Monthly Payment

P= Loan Amount  

R= Interest rate per period

N= Number of periods    

= [ $230000x0.004 x (1+0.004)^300]/[(1+0.004)^300 -1]

= [ $862.5( 1.004 )^300] / [(1.004 )^300 -1

=$1278.4147  

Total payment = $1278.4147*300

=$383524.41  

Interest payment = total payment - laon amount

                             =$383524.41-230000  

Interest payment  =$1,53,524.41

Explanation:

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Which of the following statements are reasons why operations management is important?
mafiozo [28]

Answer: D. All of these are reasons why operations management is important.

Explanation: Operation management is concern with converting materials and labor efficiently into goods and services for profit maximization. It is the administration of business principles in creating the highest level of efficiency within an organization.

Efficient and productive operation drives the economic well being of nations, Operations management is responsible for much of the value created by organizations and a key source of competitive differentiation among firms, are reasons why operation management is important.

7 0
3 years ago
On March 1, 2021, Bearcat lends an employee $20,000. The employee signs a note requiring principal and interest at 9% to be paid
almond37 [142]

Answer:

Debit interest receivable $1,500

Credit interest revenue $1,500

Explanation:

Adjust entries are used in accounting to record accrued revenue or expense at the end of an accounting period.

On March 1, 2021, Bearcat lends an employee $20,000. The employee signs a note requiring principal and interest at 9% to be paid on February 28, 2022.

We are to calculate the adjustment at December 31, 2021.

We need to calculate interest accrued at year end. The loan would have stayed for 10 months.

Interest= principal* rate* time

Interest= 20,000* 0.09* (10/12)

Interest = $1,500

So we will debit interest receivable for $1,500 and credit interest revenue.

5 0
3 years ago
Not adjusting the amounts reported in the financial statements for inflation is an example of which basic principle of accountin
Kaylis [27]

Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.

What is Monetary unit?

The monetary unit principle stipulates that only transactions that may be stated in terms of a currency should be documented. In other words, non-quantifiable items shouldn't be recorded in the financial statements of a company. Money has become a common measurement unit in accounting over time.

Therefore,

Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.

To learn more about monetary unit from the given link;
brainly.com/question/13415456

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8 0
2 years ago
On January 1, 2004, Kay Inc. issued its 10% bonds in the face amount of $400,000, which mature on January 1, 2014. The bonds wer
DaniilM [7]

Answer:

Unamortized discount is $43,700

Explanation:

Unamortized bond discount=original bond discount-amortization to date

original bond discount is $46,000

Amortization =interest  payable-interest expense

interest payable=$400,000*10%*6/12

                            =$20,000

Interest expense=$354,000*10%*6/12

                             =$17,700

amortization of discount=$20,000-$17,700

                                        =$2300

unamorized bond discount=$46000-$2300

                                            =$43,700

The unamorized bond discount at the end of the first six months is $43,700

                     

3 0
3 years ago
Stag Corp. will pay dividends of $4.75, $5.25, $5.75, and $7 for the next four years. Thereafter, the company expects its growth
Natalka [10]

Answer:

$69.41

Explanation:

Given that

D1 = 4.75

D2 = 5.25

D3 = 5.75

D4 = 7

g = 7% or 0.07

R = 15% or 0.15

Therefore,

D5 = D4 (1 + g)

= 7 × 1.07

= 7.49

Also,

P4 = D5/g × R

= 7.49/0.15 × 0.07

= 93,625

Thus,

P0 = 4.75/1.15 + 5.25/(1.15)^2 + 5.75/(1.15)^3 + 7/(1.15)^4 + 93.625/(1.15)^4

= $ 69.41357

Approximately

= $ 69.41

4 0
3 years ago
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