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kogti [31]
4 years ago
8

Ben and Carla Manchester plan to buy a condominium. They will obtain a $154,000, 25-year mortgage at 6.5 percent. Their annual p

roperty taxes are expected to be $2,796. Property insurance is $1,416 a year, and the condo association fee is $125 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9-9. (Round time value factor to 2 decimal places and final answer to the nearest whole number.)
Business
1 answer:
enyata [817]4 years ago
8 0

Answer: Total Monthly Payments = $1515.82

Explanation:

Present Value = $154000

n = 25 x 12 = 300

r = 6.5%/12

Payments = rPv/(1 - (1 + r)^-n)

Payments = 0.065/12 x (154000)/(1 - (1 + 0.065/12)^-300)

Payments = 834.166667/0.8022229250

Payments   = 1039.819037 = $1039.82.

Mortgage Loan Payments = $1039.82

Taxes per month = 2796/12 = $233

insurance per month = 1416/12 = $118

condo association = $125

Total Monthly Payments = 1039.82 + 233 + 118 + 125 = $1515.82

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Sweet Sue Foods has bonds outstanding with a coupon rate of 5.44 percent paid semiannually and sell for $1,930.36. The bonds hav
tigry1 [53]

Answer:

Current yield=5.6%

Explanation:

<em>The current yield is the proportion of the current price of a bond earned as annual  interest payment.</em>

<em>Current yield = annual interest payment/bond price</em>

<em>Annual interest payment = coupon rate × face value</em>

                                          = 5.44% × $2000

                                          = $108.8

Current yield

= annual interest payment/price

= $(108.8/1,930.36) × 100

= 5.6%

Note we used the annual interest payment nothwithstanding that interests are paid semi-annually

6 0
4 years ago
Both the Government and the contractor have the option of going to court to resolve disputes between them. True False
julia-pushkina [17]

Answer:

True

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

A contractor can be defined as a self employed individual or business entity that provides services or work for another for an agreed fee.

This ultimately implies that, a contractor is a non-employee of the organization he provides services or work for. Some examples of a contractor are consultants, engineers, lawyers, accountants, auditors, doctors etc.

Basically, the government of a country usually employs the services of contractors for the execution of public projects and works.

Hence, both the Government and the contractor have the option of going to court to resolve disputes between them.

7 0
3 years ago
Which of the following statements about the W-2 form is TRUE?
ohaa [14]

Answer:

I believe it it the second option.

Explanation:

8 0
3 years ago
A for of advertising that touts the benefits of a specific good or service is called?
Romashka [77]
It's product advertising
4 0
3 years ago
The two regions with the highest risk of social unrest are:
Serggg [28]

Answer:Sub-Saharan Africa and the middle East-North Africa region.

Explanation: Over the past two decades their have been lot of social unrest in the middle East, Sub-Saharan Africa and North African chiefly due to activities of Religious extremists and rebel groups, For instance, in Nigeria (which is in Africa) there have been activities of Boko haram terrorist group which have displaced a lot of people living in the affected states and causing death and injury of many. Also, Syria suffered unrest due to activities of rebellious groups. All these activities and more puts these region at a very high risk of social unrest .

6 0
3 years ago
Read 2 more answers
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