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
Advocard [28]
3 years ago
11

(3) Suppose you are buying your first condo for $145,000, and you will make a $15,000 down payment. You have arranged to finance

the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?

Business
1 answer:
Colt1911 [192]3 years ago
4 0

Answer:

Explanation:

In the given question, we have to find out the monthly payment. In this case, the interest rate is divided by 12 months and the years are multiplied by the 12 months

So,

The interest rate would be = 6.5% ÷ 12 months = 0.541%

The total months would be = 30 years × 12 months = 360 months

And, the present value would be equal to

= First condo amount - down payment

= $145,000 - $15,000

= $130,000

The calculation is shown in the spreadsheet. Kindly find the attachment

You might be interested in
The Economic Landscape of Oceania World Geography Unit 7:__________Australia, New Zealand, and the Pacific Islands
kykrilka [37]

Answer:

The Economic Landscape of Oceania World Geography are catching seals and whales, Trading wood and meats.

5 0
3 years ago
You have 40 years left until retirement and want to retire with $5 million. Your salary is paid annually, and you will receive $
Marat540 [252]

Answer:

16.67%

Explanation:

Calculation to determine what percentage of your salary must you save each year

First step is to calculate the Annual savings

Annual savings=$5 million*[(10%-3%)/(1+0.1)^40-(1+0.03)^40]

Annual savings=$5 million*0.07/(1.1^40-1.03^40)

Annual savings=$8333.88

Now let determine the percentage of the salary you must save each year

Proportion of savings=$8333.88/$50,000

Proportion of savings=0.1667*100

Proportion of savings=16.67%

Therefore the percentage of your salary that you must save each year is 16.67%

5 0
3 years ago
What factors are involved when there is an interaction between a person and an experience?
olganol [36]

Answer:

The correct answer is letter "A": sociocultural factors.

Explanation:

Sociocultural factors represent the behavior of societies in different matters and how they can affect individuals. They are mainly driven by the difference among people in the same community and how they interact. Those factors could be <em>religion, ethnicity, </em>and <em>culture</em> to mention a few.

5 0
2 years ago
Mount Company incurred a total cost of $8,600 to produce 400 units of pulp. Each unit of pulp required 5 direct labor hours to c
Sophie [7]

Answer:

The correct answer is option (B).

Explanation:

According to the scenario, the given data are as follows:

Total cost = $8,600

Total units = 400 Units

Direct labor hour per unit = 5

Variable cost = $1.50

So, we can calculate the fixed cost by using following formula:

Fixed cost = Total cost - Total Direct labor cost

Where, Total direct labor cost = $1.50 × 5 × 400 = $3,000

By putting the value in the formula, we get

Fixed cost = $8,600 - $3,000

= $5,600

5 0
3 years ago
If Papa John's wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct:
Jobisdone [24]

Answer: (A) Experimental research

Explanation:

 The experimental research is one of the type of method that helps in determining the different types of data by using the scientific approach and it also control all the scientific variable information that can controlled all the manipulated data or information in the system.

The main purpose of the experimental research is that it helps in establish the relationship of the two variables and also used for the investigation purpose.

 According to the given question, the papa john wanted to determine re different coupons on the pizza sales unit and he basically needs for conducting the experimental research.

Therefore, Option (A) is correct.  

7 0
2 years ago
Other questions:
  • Tanner Company, a subsidiary acquired for cash, owned equipment with a fair value higher than the book value as of the date of c
    5·1 answer
  • White Lion Homebuilders has a current stock price of $22.35 per share, and is expected to pay a per-share dividend of $2.03 at t
    10·1 answer
  • Consider a 10​-year bond with a face value of $ 1 comma 000 that has a coupon rate of 5.1 %​, with semiannual payments. a. What
    5·1 answer
  • Joseph has just accepted a job as a stockbroker. He estimates his gross pay each year for the next three years is $35,000 in yea
    13·1 answer
  • Cadmia and Rhodia specialize in the production of electronics and pharmaceutical products respectively. They are considered the
    11·1 answer
  • To confirm the official requirements for becoming a cosmetologist, you should check with ______________________.
    11·1 answer
  • g you are deciding between a conventional air conditioner and a high efficiency (High SEER) unit. The high efficiency unit costs
    5·1 answer
  • Robert just found out that he is going to be unemployed within a month because his factory has invested in a robotic factory lin
    12·1 answer
  • I’ll give 20 points to the best answer !!!
    12·1 answer
  • You bought two new CDs with the last $30 in your checking account, and your next payday is on Monday. What is the opportunity co
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!