Answer:
i. How much do you owe on the loan today?
- remaining principal balance = $484,331.31
ii. How much interest did the firm pay on the loan in the past year?
- during year 2, $23,458 was paid in interests ($28,833.33 was paid in interest during year 1).
iii. Suppose starting next year (fourth year) the loan rate jumps to 7.2% APR. What is the remaining balance? What will be the monthly payment?
- the remaining balance at the beginning of year 4 is $475,916
- the new monthly payment will be $3,375.72
Explanation:
I prepared two amortization schedules using an excel spreadsheet. The principal on the loan was $500,000. The first one has a fixed 4.8% APR for the whole 30 years. In the second one, the APR changes to 7.2% at the beginning of year 4.
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
pdf
</span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
pdf
</span>
Answer: psychographic
Explanation:
Psychographics is the marketing method whereby the consumers are studied based on their psychological characteristics like the interests, desires, lifestyle choices, values, goals, etc.
Psychographics focuses on the values and the emotions of the consumers by understanding them so that the marketing of goods can be done more accurately.
Total Asset Turnover -Net sales / Revenue divided by Average Total Cost
Explanation:
Total Asset turnover helps to know :-
1. Financial Condition - Which means how much profit the company has earned and what are there Retained Earnings.
2. Desirable Ratios - Depending upon the company type and size ratios are decided which helps them to make a standard comparison.
Total Asset turnover helps to compare the efficiency of the company through figures which would give them a direction to increase there sales volume.
Answer:
62,400 units
Explanation:
The computation of the equivalent units for conversion cost is shown below:
= Started and completed units × completion percentage + closing inventory units × completion percentage
where,
Started and completed units is
= 65,000 units - 6,500 units
= 58,500 units
So the equivalent units is
= 58,500 units × 100 + 6,500 units × 60%
= 58,500 units + 3,900 units
= 62,400 units
The 3/5 finished means 60% is finished
