1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rudiy27
3 years ago
10

Alicia and Nick are buying a $725,000 home. They have been approved for a 5.25% APR, 30-year mortgage. They made a 20% down paym

ent. What will be their monthly payment over 30 years? Google “mortgage calculator” and find the monthly payment using that tool.
Business
1 answer:
UkoKoshka [18]3 years ago
6 0

Answer:

R=An*i : [1-(1+i)^-n]

R=580,000*0.0525/12 : [1-(1+0.0525/12)^-360]

R=3,202.78

Monthly payments =$ 3,202.78

Explanation:

Given

Home Cost=725,000

downpayment= 20% of 725,000

An=725,000 - 0.2 *725,000

An= 580,000

t=30 yrs

n=12 (monthly)

j=5.25% (interest rate)

--> i=j/m

i=0.0525/12

-->n=m*t

n=12*30

n=360

FInd monthly pmts ( R) =?

R=An*i : [1-(1+i)^-n]

R=580,000*0.0525/12 : [1-(1+0.0525/12)^-360]

R=3,202.78

You might be interested in
Green Cleaning purchased $500 of office supplies on credit. The company’s policy is to initially record prepaid and unearned ite
-Dominant- [34]

Answer:

Debit Office supplies, $500; credit Accounts payable, $500.

Explanation:

Purchase of supplies on credit will increase the supplies and increase the account payable balance as well. Supplies account is an asset account therefore it has debit balance and Account payable is a liability account so it has credit balance. To reflect the event following Journal entry is recorded.

Debit       Office supplies         $500

Credit      Accounts payable    $500

4 0
3 years ago
The City of Fairfield issued $100 million of 20-year, 6 percent coupon bonds (3 percent per semiannual period) for $89.32 millio
Rudik [331]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
Verizon is running two TV ads to attract new customers. Ad A is run once a week, and it costs $20 per showing. Ad B is run once
maria [59]

Answer:

TRUE The Statement is correct

Explanation:

We need to add up both advertizement contract to knwo the total acquisition cost of the advertizement.

<u>First contract cost:</u>

365 daysper year / 7 dayts per week = 52 week per year

52 week per year x $20 dolllar per weke = $1,040

<u>Second contract cost:</u>

12 months per year x $100 per month =       $1,200

Total acquisition cost: 2,240

4 0
3 years ago
RT is about to loan his granddaughter Cynthia $10,000 for 1 year. RT’s TVOM, based upon his current investment earnings, is 12%,
qaws [65]

Answer:

They should not be able to successfully negotiate the terms of this loan within these parameters.

Explanation:

It has been provided that RT earns 12% on his current investments and would not like to receive an interest rate of less than 12% on the loan he gives.

if RT gives a loan of $10,000 for one year, he would charge an interest rate of minimum 12%.  

Interest = $10,000*0.12

             = $1,200

RT requires $1,200 in interest.

It has been provided that Cynthia earns 8% on her investment.

If she borrows $10,000 and invests the amount for one year, she can earn 8% return on such amount.  

Earning = $10,000*0.08

             = $800

Cynthia is going to earn $800

RT requires a minimum of $1,200 as interest for 1-year loan he gives while Cynthia can pay a maximum of $10,000 as interest for 1-year loan she takes. there is mismatch between the minimum expectation to receive of lender and the maximum expectation to pay of borrower.

Therefore, They should not be able to successfully negotiate the terms of this loan within these parameters.

6 0
3 years ago
Diminishing returns are a reason that fixed costs remain constant. the marginal cost curve is upward sloping. the average fixed
Molodets [167]

Answer:

the marginal cost curve is upward sloping.

Explanation:

Utility can be defined as any satisfaction or benefits a customer derives from the use of a product or service.

This ultimately implies that, any satisfaction or benefits a customer derives from the use of a product or service is generally referred to as a utility.

Basically, the marginal utility of goods and services is the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.

For example, buying a candy stick and eating it may satisfy your cravings but eating another one (an additional or extra unit) wouldn't give you as much satisfaction as the first due to diminishing marginal utility.

In Economics, the law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.

Marginal cost can be defined as the additional or extra cost that is being incurred by a company as a result of the production of an additional unit of a product or service.

Generally, marginal cost can be calculated by dividing the change in production costs by the change in level of output or quantity. A marginal cost curve is upward sloping because of the law of diminishing returns.

4 0
3 years ago
Other questions:
  • If a company hires too many employees and discovers later that it can't afford them, it may have to do what?
    7·2 answers
  • The following cost data relate to the manufacturing activities of Chang Company during the just completed year:
    9·1 answer
  • For most young people, working full-time and going to school are substitutes: You tend to do one or the other. When it’s tough t
    7·1 answer
  • Consumer surplus is A. a buyer's willingness to pay for a good plus the price of the good. B. the amount a buyer is willing to p
    10·1 answer
  • What type of life policy covers two people and pays upon the death of the last insured?
    8·1 answer
  • Galvin grew up on a farm. He worked on his father’s farm and then inherited the business when his dad retired. For which career
    7·2 answers
  • nuary 1, Campanella Inc. issued $4,000,000, 8% bonds for $3,756,000. The market rate of interest for these bonds is 10%. Interes
    13·1 answer
  • Which of the following best explains the purpose of a supply schedule?
    11·2 answers
  • Matcha green tea is primarily cultivated by Japanese farmers. Suppose that Matcha green tea grows in popularity as its health be
    12·1 answer
  • Bonnie is writing a growth plan for her bicycle repair shop. She wants to pay off the loan for the building she uses for her bus
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!