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faltersainse [42]

2 years ago

12

mackenzie burrows $300 000 from the bank on a 30 year mortgage. she is given an interest rate of 5.125% apr. how much in total i

nterest will she pay over the term of the loan if she does not make any additional payments

1 answer:

DanielleElmas [232]2 years ago

7 0

Answer:

$512.5

Explanation:

$300,000 / 30 years

= $10,000

$10,000 * 5.125%

= $512.5

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Owner's withdrawals:______.

MArishka [77]

Answer:

Owner's withdrawals:______.

a) decrease owner's equity.

Explanation:

The withdrawals made by the owner of an entity reduces his or her equity interest in the entity. Owner's withdrawals are transfers of cash from the business to its owner. They are not expenses of the business and do not appear in the income statement. Instead, withdrawals may occur when an organization is spinning off extra cash or when the owner has an immediate personal need for the funds. The forms of business organizations that allow for withdrawals by the owners are the partnership and the sole proprietorship.

8 0

2 years ago

The Draper Company is considering dropping its Doombug toy due to continuing losses. Revenue and costs data on the toy for the p

tiny-mole [99]

Answer:

Effect on income= -$22,000 decrease

Explanation:

Giving the following information:

Contribution margin $30,000

Fixed expenses ($40,000)

Net operating loss ($10,000)

<u>If a product line provides a positive contribution margin, generally it is convenient to continue production, at least in the short term.</u>

<u></u>

Effect on income= avoidable fixed costs - contribution margin

Effect on income= 8,000 - 30,000

Effect on income= -$22,000 decrease

5 0

3 years ago

Select the correct answer.

aalyn [17]

Answer:

c

Explanation:

usually when ppl have to reserve things it's usually booked

7 0

3 years ago

Read 2 more answers

ints) During 2018, Falwell Inc. had 500,000 shares of common stock and 50,000 shares of 6% cumulative preferred stock outstandin

Butoxors [25]

Answer: $4.34

Explanation:

The net income for diluted earnings per share will be calculated as:

Net income: $2,500,000

Less: preferred dividend: $300,000

= $2,200,000

To calculate the number of shares goes thus:

Total shares of stock options = 10,000 × 20 = 200,000 shares

Proceeds = 200,000 × $29

= $580,000

Shares of treasury stock will be:

= $580,000/$30

= 193,333 shares

Net shares added will be:

= 200000 - 193333

= 6667

Tge total shares for the diluted earnings per share will now be:

= 500,000 + 6667

= 506,667

The diluted earnings per share:

= $2,200,000/506667

= $4.34

8 0

3 years ago

You need a 30-year, fixed-rate mortgage to buy a new home for $210,000. Your mortgage bank will lend you the money at a 7.1 perc

miskamm [114]

Answer:

$573,963

Explanation:

First, calculate the present value of the loan payments using the following formula

PVA = PMT x [ ( 1 + r )^n - 1 ] / [ r ( 1 + r )^n)

PVA = $950 x [ ( 1 + 7.1%/12 )^360 - 1] / [ 7.1%/12 ( 1 + 7.1%/12 )^360)

PVA = $141,362.32

Now calculate the difference of Value of loan and the present value of loan payment

Difference = Loan value - PV of loan payment = $210,000 - $141,362.32 = $68,637.68

This te Ballon payment in present value term, We need to determine the value at the end of the loan term.

Hence we need to calculate the future value of this payment as follow

Future value = Present vale x ( 1 + Monthly Interest rate )^numbers of months

Future value = $68,637.68 x ( 1 + 7.1%/12 )^360

Future value = $573,963.09

Future value = $573,963

Hence the ballon Payment will be $573,963

7 0

2 years ago