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pentagon [3]
3 years ago
8

A home mortgage with monthly payments for 30 years is available at 6% interest. The home you are buying costs $120,000, and you

have saved $12,000 to meet the requirement for a 10% down payment. The lender charges "points" of 2% of the loan value as a loan origination and processing fee. This fee is added to the initial balance of the loan. What is your monthly payment?
Business
1 answer:
Alex17521 [72]3 years ago
4 0

Answer: $858.67 Monthly Repayment

Explanation:

Total Loan = $120,000

Less Initial deposit of $12,000

Balance loan= $108,000

Add 2% originating & Processing fee = $120,000 * 2% = $2,400

Total Loan = $108,000+$2,400 = $110,400

Int accrued for 30 years on $110,400 * 6% = $6,624 * 30=$198,720

Total loan plus Int = $110,400+$198,720= $309,120/360(30*12) = 858.6666

Monthly payment = $858.67

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Assume that the cost of aluminum used by​ soft-drink companies increases. Indicate which of the following statements describing
spayn [35]

Answer:

a. false

b. true

c. true

d. false

Explanation:

a. The first statement is false as the demand for the soft drink do not declines

b. The second statement is true as the quantity demanded decreased

c The third statement is true as the supplied decreased

d. The fouth statement is false as the quantity suppied do not decline

Therefore the option b and C are correct and option A and D are incorrect

5 0
3 years ago
Choose the method of pay that would result in the most earnings for one month on sales of $40,000. A. Straight commission of 7.
sleet_krkn [62]

The method of pay that would result in the most earnings is method 1.

<h3>What method of pay would result in the most earnings?</h3>

In order to determine which method of pay would yield the highest earnings, the total amount that would be earned using each method of pay has to be determined.

Method A = 7.5% x $40,000 = $3000

Method B = $1600 + (2.5% x $40,000) = $2,600

Method C = (5% x $30,000) + (6% x 10,000) = $2,100

Method D = (4% x $25,000) + (8% x $15,000) = $2,200

To learn more about pay, please check: brainly.com/question/11946555

8 0
2 years ago
You need $120,000 to start your business. You plan to invest $54,000 in the business and obtain financing from outside investors
bonufazy [111]

Answer:

45%

Explanation:

=

54/120

8 0
3 years ago
An investor company uses the equity method to account for its investment in 25% of the outstanding common stock of an investee c
masya89 [10]

Answer:

Option A is correct.

<u>A decrease in the Equity Investment account</u>

Explanation:

Dividend received amount decreases the investment account. Net income interest in investee account is added to the investment account.

4 0
3 years ago
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 13,
Anit [1.1K]

Answer:

Incremental income for Sale as scrap  is $36,400 and Rework is $46,200

Explanation:

                                                              Sale as scrap         Rework

Sales of reworked units (13000*8.2)                                  $106,000

Sales of scrap units (13000*2.8)            $36,400

Cost to rework units (13000*4.6)                                         ($59,800)

Opportunity cost of not making new units

Incremental income (loss)                      $36,400              $46,200

6 0
3 years ago
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