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
goblinko [34]
3 years ago
9

Rob Grier, a friend of yours, has recently purchased a home for $125,000, paying $25,000 down and the remainder financed by a 10

.5%, 20-year mortgage, payable at $998.38 per month. At the end of the first month, Rob receives a statement from the bank indicating that only $123.38 of principal was paid during the month. At this rate, he calculates that it will take over 67 years to pay off the mortgage. Is he right?
Business
1 answer:
KonstantinChe [14]3 years ago
7 0

Answer:

No

Explanation:

Rob is considering their principal payment will be 123.38 everytime.

<u>It will increase through time while interest payment decrease.</u>

Month  Beg Cuota Rate Interest Principal payment Ending

1 100,000 998.38 0.00875 875                 123.38 99,877

2 99,877 999.38 0.00875 873.92           125.46 99,751

3 99,751 1000.38 0.00875 872.82          127.56 99,624

4 99,624 1001.38 0.00875 871.77          129.67 99,494

5 99,494 1002.38 0.00875 870.57           131.81 99,362

6 99,362 1003.38 0.00875 869.42           133.96 99,228

<u>The cuota and rate keep at the same level.</u>

But the interest decrease, because each time the principal is lower, giving place to a higher repayment.

The loan will repay at 20 year as state in the mortgage

You might be interested in
Mateo has a passion for collecting old watches. He's particularly interested in those from the 1920s because they have a history
hammer [34]

Answer:

D. Authenticity

Explanation: Authenticity describes the genuineness or real nature of something. Mateo wants to ensure that every watch purchases must be those from 1920s and are original. For him,authentic products are his priority and watchword mainly because he has some specific quality connected with the watches manufactured from the 1920s and must be original. Taking the watches to an appraiser is for the appraiser to help in verifying the authenticity of the watches.

4 0
3 years ago
Read 2 more answers
Gross domestic product (gdp) is the total market value of all intermediate and final goods and services produced by an economy i
MrMuchimi
A. true
the gross domestic product acts as a quantitative measure of an economy's economic activity on an annual basis

7 0
3 years ago
According to theory, sales employees compensated based on commissions should be more motivated than if paid a straight hourly wa
andrezito [222]

Answer:

Expectancy Theory

Explanation:

The expectancy theory basically talks about how individuals will behave or react in a certain way because they are motivated and as a result choose to act in accordance or react to specific situations due to what they expect the results to be.

8 0
3 years ago
Read 2 more answers
Which of the following has given consumers unprecedented power to express likes and dislikes, compare prices, find the best deal
STatiana [176]

Answer:

The correct answer is letter "A": Digital technology.

Explanation:

When talking about commerce, digital technology has allowed buyers and sellers from different parts of the world find and offer goods and services without the need to physically meet. The transaction also includes all the steps and efforts necessary to deliver consumers the product at the door of their houses.

Besides, digital technology has allowed consumers to express their ideas massively based on the experience they had with the digital vendors and price so other prospective consumers have an idea of the service provided by the merchant is good or if they should look for a different seller.

8 0
3 years ago
Inventories are part of investment and therefore included in gdp because
Natasha_Volkova [10]

Answer:

Explanation:

Inventories are part of investment and therefore included in GDP because firms produce goods and these goods may be unsold at the time GDP is computed

The value added method of calculating GDP recognizes inventory. Value added from raw materials to work in process and to finished goods are part of what goes into the computation of GDP

7 0
3 years ago
Other questions:
  • What are five ways of organizing a company?
    9·1 answer
  • Suppose the total market value of all the final goods and services produced in the country of Rushya was $8 billion in 2008 (mea
    14·1 answer
  • Bonita Industries had the following information at December 31: Finished goods inventory, January 1 $120000 Finished goods inven
    12·1 answer
  • If a check written and paid by the bank for $638 is incorrectly recorded on the company’s books at $683, the appropriate treatme
    12·1 answer
  • Karen is a financial analyst. At work, she uses logic to reason and solve novel financial problems. This is an example of _____.
    6·1 answer
  • 1. Why is it extremely important to read the fine print of your W-4 form?
    13·1 answer
  • Sawchuck Consulting has been profitable for the last 5 years, but it has never paid a dividend. Management has indicated that it
    12·2 answers
  • Broker A is involved in an exclusive right to sell listing with his seller client, Seller S. After receiving the property condit
    5·1 answer
  • Question 7 Suppose that Jaxon Corporation has three products: Red, Black, and White. Red has the highest contribution margin per
    9·1 answer
  • when a company will reduce the number of projects they have to manage internally to only core projects and send noncritical proj
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!