<span>Represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income.

the formula is y=Pb B + Pw W
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Hope that helped!

3 0

4 years ago

Cassidy is planning to obtain a loan from her bank for $210,000 for a new home. the bank has approved cassidy’s loan at a fixed

Grace [21]

Cassidy's approximate monthly payment stands at $1420. if Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.

<h3>What is the payment monthly?</h3>

The monthly payment is the quantity paid per month to pay off the loan in the time period of the loan. When a loan is taken out it isn't only the top amount, or the original payment loaned out, that needs to be repaid, but also the good that accumulates.

<h3>What is a loan amortization schedule?</h3>

It is described as the systematic method of representing loan payments according to the time in which the principal amount and interest exist mentioned in a list manner

It is given that:

Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.
A fixed annual interest rate of 2.7% compounded monthly for 15 years.

The formula is:

$P=F_{P} (i)/1-(1+i)^{-1}$

Plug all the values in the above formula:

$P=210000(2.7/12)/1-(1+(2.7/12)^{-15*12}$

$1420.

Hence,

Cassidy's approximate monthly payment stands at $1420.

To learn more about monthly payment, refer

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4 0

1 year ago

Which of the following would be most likely to lead to higher interest rates on all debt securities in the economy?

frutty [35]

Answer:

The correct answer is a) The economy moves from a boom to a recession

Explanation:

The fiscal policy used by the federal reserve is the use of government spending and tax policies to contract or expand the economy.

If the Federal Reserve of the United States increases the interest rates it carries a contract policy of the economy. It is used to reduce the inflation and the economy moves from a boom to a recession

4 0

3 years ago

Jay John Inc. recently paid a $40,000 installment on its 20-year mortgage. Out of the $40,000 total payment, $12,000 went toward

weqwewe [10]

Answer:

Explanation:

The journal entry is shown below:

Interest expense A/c Dr $28,000

Mortgage payable A/c $12,000

To Cash A/c $40,000

(Being the installment is paid for cash and the remaining balance is debited to the interest expense account)

Simply we debited the interest expense and mortgage payable account and credited the cash account as cash is paid

5 0

4 years ago