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jarptica [38.1K]
3 years ago
15

Elaine takes out a $100,000 mortgage on December 1, 1997. Elaine will repay the mortgage over 20 years with level monthly paymen

ts at an effective annual interest rate of 8%. The first payment is due January 1, 1998. After making her 120th payment, Elaine does not make any new payments for the entire next year. Elaine starts making revised monthly payments, of amount P, beginning January 1, 2009. The amount P is such that Elaine will pay off the loan in the original, 20-year term—that is to say, her last payment will be due December 1, 2017. Determine P.
Business
1 answer:
Dmitrij [34]3 years ago
8 0

Answer:

I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89

I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.

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In 2012, Teller Company sold 3,000 units at $300 each. Variable expenses were $210per unit, and fixed expenses were $120,000. Th
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Answer:

Teller's break-even point in sales dollars for 2012 is $400,000

Explanation:

The formula to compute the break even point in dollars is shown below:

Break even point (in dollars) = (Fixed expenses) ÷ (contribution ratio)

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And, the contribution ratio equals to

= (Contribution per unit)  ÷ (sales per unit) × 100

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Contribution is = Selling price - variable cost per unit

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Now put the values to the above formula

So, the ratio would be

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= $120,000 ÷ 30%

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3 years ago
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Answer:

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3 years ago
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Answer:

400

Explanation:

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Qd    = -15 + P

45 - 2P = P - 15

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3 years ago
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Answer:

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