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
Margarita [4]
3 years ago
12

Suppose you have taken out a $400,000 fully amortizing fixed-rate mortgage loan that has a term of 15 years and an interest rate

of 3.75%. In month 1 of the mortgage, how much of the monthly mortgage payment does the interest portion consist of?
Business
1 answer:
kipiarov [429]3 years ago
4 0

Answer:

$1,250

Explanation:

interest on the first payment = principal x interest rate x time = $400,000 x 3.75% x 1/12 = $1,250

as you make monthly payments, the principal amount will start decreasing by monthly payment - interest, and that should also decrease the interest charged per month and increase the amount of principal paid each time.

You might be interested in
List four people who are likely to play a role in the induction of a new employee?​
RUDIKE [14]

Answer: The answer is personnel manager,Top level management such as Directors, Marketing manager, Safety officer

Explanation:

Induction is the process of introducing the new employees into the organization. During the induction process the new employees are acquainted with the policies, practices and general objectives of the organization. Induction is done with a view to generate the personal interest of the new employees in the organization and also to create the employees enthusiasm for the job and to ensure the employees loyalty to the organization. It involves the explanation of the issues such as history of the organization, products and services, General policies and practices, benefits such as insurance ,retirement and vacation, safety regulation .The following officers are likely to play a role in the induction of new employee

Personnel manager for personnel matters such as the benefits that will accrue to such employees such as insurance, retirement benefit and vacation benefits

Marketing manager to handle products and services offer to the target market by the organization

Top level management such as directors to handle matters such as Organization history and General policies and practices

Safety officer to handle matter such as the safety precaution to be taken by the new employees while doing their job

7 0
3 years ago
Coronado Company had the following department information for the month: Total materials costs $55000 Equivalent units of materi
aniked [119]

Answer:

10.9 per unit

Explanation:

Total manufacturing cost per unit= Material cost per unit + Conversion cost per unit

Material Cost per Unit= Total materials cos / Equivalent units of materials

Material cost per unit = 55000 / 10000 = 5.5

Conversion cost per unit = Total conversion costs / Equivalent units of conversion costs

Conversion cost per unit = 81,000 / 15000 = 5.4

Hence, Total manufacturing cost per unit = 5.5 +5.4 = 10.9 per unit

7 0
3 years ago
An investor, such as a bank, may prefer to invest in securities backed by a pool of mortgages purchased in the secondary market
kati45 [8]

Answer:

b. mortgage backed securities diversify credit risk for the investor.

Explanation:

An investor, such as a bank, may prefer to invest in securities backed by a pool of mortgages purchased in the secondary market rather than in an equal dollar amount of mortgage loans because <u>mortgage backed securities diversify credit risk for the investor.</u>

In Mortgage Backed Securities, credit risk is diversified as there are many borrowers and investors between whom credit risk diversifies. So that makes investor such as bank prefer the option.

8 0
3 years ago
For a given single sum invested at 8% for four years, how will the future value be affected if the compounding period is changed
Lorico [155]

Answer:

Future Value will increase

Explanation:

Future Value = Present Value (PV)*(1 + i)^n

<em>Let Amount  be $10,000</em>

<em>Interest = 12% compounded annually</em>

<em>Period = 4</em>

Future Value = $10,000 * (1 + 12%)^4

Future Value = $15,735.19

<em>Let Amount  be $10,000</em>

<em>Interest = 12% compounded quarterly</em>

<em>Period = 4 (4*4)</em>

Future Value = $10,000*(1 + 3%)^16

Future Value = $16,047.06

Conclusion: The future value will increase.

5 0
2 years ago
Ariel wants to compare the salaries for positions she was offered at two companies. What should she consider in this process?
german

Answer:

  • <em>She should research the cost of living of different locations to compare against the offered salaries.  </em>
  • <em>She should research the benefits included in each offer. </em>
  • <em>She should research the average salary of similar positions to see if the offers are fair. </em>

Explanation:

  • Remember, the cost living at the different locations is good basis to determine how much the actual value of he salary will be worth. For instance if location A pays her $5000 a month and her living expenses from the location takes about $4500, while location B pays her $3500 a month with a living expense of $1000, then she rather goes for location B she has more extra income.

  • Secondly, the benefits included in salaries is also to be considered. Does it includes medical insurance, transport allowance etc.?

  • Third the average industry pay level would also help Ariel know whether to accept any of the offers or not.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Fill in the blanks:1. ________ reduces the time, effort, and cost of recordkeeping while improving clerical accuracy. 2. _______
    8·1 answer
  • Assume that three identical units of merchandise were purchased during October, as follows: Units Cost October 5 Purchase 1 $5 1
    7·2 answers
  • Which choice best describes labor laws passed during the New Deal?
    11·2 answers
  • Why do bank panics worsen asymmetric information problems in credit markets?
    5·1 answer
  • Which of the following would most likely make the demand for an item more elastic?
    12·2 answers
  • What is 2×78 please help​
    12·1 answer
  • At the beginning of a recent year, JetBlue's assets were $6,549 million and its equity was $1,546 million. During the year, asse
    12·1 answer
  • The three variables which affect saving money are:
    12·1 answer
  • {20 pts}
    14·1 answer
  • A firm uses a standard costing system and allocates variable overhead costs based on direct labor hours. The annual budget proje
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!