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Blizzard [7]
4 years ago
12

Seven years ago, Carlos took out a 30-year mortgage for $185,000 at 5.6 percent. He has made all of the monthly payments as agre

ed. What is his current loan balance
Business
1 answer:
marin [14]4 years ago
6 0

Answer:

Remaining balance of loan after 7 years ( today ) = $ 164,619.6

Explanation:

amount of mortgage = $ 185,000

original term of loan 30 years * 12 = 360 months

interest rate = 5.6 % * 1/12 =0.4666% per month

monthly payment = amount oa mortgage * i /[ 1- (1+i)^-n ]

= $ 185,000 * 0.4666% / [ 1- ( 1 +0.4666%)^-360 ]

= $ 863.21 / [ 1 - 0.187148 ]

= $ 863.21 / 0.812852

= $ 1061.95

after 7 years, that means 84 months, remaining term = 360 months - 84 months = 276 months

remaining balance of loan = amount of loan * ( 1+ i )^n - monthly payment * [ {( 1 + i )^n - 1 } / i ]

remaining balance of loan after 7 years ( 84 months ) = [ $ 185,000 * ( 1+0.4666%)^84 ] - $ 1061.95 * [ {(1+0.4666%)^84 - 1} / 0.4666 ]

= [ $ 185,000 * 1.47850 ] - $ 1061.95 * ( 0.47850 / 0.4666% ]

= $ 273,522.5 - $ 1061.95 * 102.55

= $ 273,522.5 - $ 108,902.9

= $ 164,619.6

remaining balance of loan after 7 years ( today ) = $ 164,619.6

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g The shareholders' equity of Diakovsky Company at the beginning and end of 20X6 totaled $16,000 and $21,000, respectively. Asse
Pavel [41]

Answer:

$38,000

Explanation:

The accounting equation shows the relationship between the various elements of the balance sheet which are assets, liabilities and equity. The equation is as shown below;

Assets = Liabilities + Equity

At the beginning of 20x6

$25,000 = liabilities + $16,000

Liabilities = $25,000 - $16,000

= $9,000

If liabilities increases by $8,000

At the end of 20x6,

Liabilities = $9,000 + $8,000

= $17,000

Total Assets = $17,000 + $21,000

= $38,000

5 0
3 years ago
Why are conflicts of interests a problem in business? (Select the best answer.)
labwork [276]
They can lead to unethical behavior.
8 0
3 years ago
Read 2 more answers
Regardless of the criteria differences among different types of projects, the most important criterion for project selection isH
Soloha48 [4]

Answer:

a. The project's fit to the organization strategy

Explanation:

The project should be chosen according to how the organization competes in market or what the strategy is in general terms. This is the upward of all other criteria. Now let's look at other criterias:

Project sampling methods play an important role in the initial phase of the project. Let's look at the 5 most important criteria:

1) Chance of Success: Not all projects will be successful in any company. Therefore, when selecting a project, the majority of project managers take into account opportunities that may arise and use the criteria for selecting a project. The sponsors want the project managers to be as successful as they want it to be.

2) Availability of data: Is the information ready for the project? If not, can it be collected easily? Most project managers and sponsors know that the information they need for a project is rarely analyzed.

3) Profitability: Any project is for any material gain or profit. At the same time, in addition to the monetary benefits, customer satisfaction, increased productivity, and overall engagement with the company; increases the scope of work and more.

4) Comfortable Time: There is always a perfect time to start a project. Conformity is contextual. I mean both start and end, according to the timeline and the timetable. An important project must be closed on time. First of all, it should be planned to close in time. Must be covered in time to close.

5) Resource Availability: Not all organizations make a laundry list because everything seems to be a Business or Customer Priority. Even the largest and richest organizations have limited resources. The resource is not exhausted, it has not been determined to engage or surrender anywhere else.

Each project considered depends on the decision to invest its resources to achieve a certain result - start a new IT initiative; design of a new building; or an updated human resources program. On the other hand, decisions to use an external source, an ongoing project, to wait for more resources, or to opt-out generally, must also be considered in order to achieve the desired result. When a project is incompatible with the values of the organization; the expected ROI has not been reached or, in extreme cases, does not endanger the health of the company; Leaving the project can be the most rewarding way of doing things.

3 0
3 years ago
Lily wants to maximize her benefit of consuming apples and bananas, given her fixed budget of $10 for these two fruits. The pric
JulijaS [17]

In order to derive Lily's demand curve for bananas, we need to solve the buyer's problem for her multiple times and find the optimal number of bananas, when price of a bananas is at a different level each time.

Explanation:

The demand curve is an intractable economic diagram that indicates the connection between an overall market demand for commodity quantity and market price.

The market demand graph is the convergence of all private market demand curves. This indicates the quantity expected by all people at different prices. For eg, the quantity expected by all advertisers at 10 dollars per day is 150 lattes.

4 0
4 years ago
Hedging transactions in an active future market have zero.<br> A. True<br> B. False
Evgen [1.6K]

Answer:

A. True

Explanation:

Hedging transactions can be described as derivative that are purchased in order to reduce investment risk of investments by using options, futures or forward contracts as insurance.

A futures market refers to a central financial exchange where standardized futures contracts are bought and sole as defined by the exchange.

Generally, positive net present value (NPV) is yielded by hedging. But the NPV will be zero or even slightly negative as when the market becomes active about the future.

Based on this explanation, the correct option is <u>A. True</u>. That is, hedging transactions in an active future market have zero.

7 0
3 years ago
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