Bernard Company's budgeted manufacturing overhead is $ 2 comma 700 comma 000. Overhead is allocated on the basis of direct labo
1 answer:
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Answer:
The correct answer is $1,067.38
Explanation:
According to the scenario, the given data are as follows:
House cost = $240,000
Down payment = 20% × $240,000 = $48,000
Amount of loan (p) = $240,000 - $48,000 = $192,000
Time period ( compounded monthly) (t) = 30 years × 12 = 360 months
Rate of interest = 5.31% = 0.0531
Rate of interest Monthly (r) = 0.0531 ÷ 12 = 0.004425
In this question, we use the PMT formula which is shown in the spreadsheet.
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the monthly payment is $1,067.38
Based on the correlational analysis of X and Y that is given, we can infer that there is a linear relationship between X and Y.
<h3>What does the correlation analysis show?</h3>The Pearson correlation coefficient shows if there is a linear relationship between given variables.
In the given table, the Pearson Correlation coefficient is not 0 for either variable which means that a linear relationship does in fact exist between the variables.
Find out more on the Pearson correlation coefficient at brainly.com/question/24084533.
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