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
svet-max [94.6K]
3 years ago
7

Suppose someone borrows $552,000 today to buy a house in Davis, CA. If the annual interest rate is 4%, with monthly compounding,

what should be the fair value monthly mortgage payment?
Business
1 answer:
galina1969 [7]3 years ago
4 0

Answer:

Monthly Repayment on Loan  = $2634.06

Explanation:

given data

principal =  $552,000

annual interest rate = 4% = 0.333% monthly

solution

for get here fair value monthly mortgage payment we consider here time period is 30 year = 360 months

so now we apply here Monthly Repayment on Loan formula that is

Monthly Repayment on Loan  = principal ×  \frac{r(1+r)^t}{(1+r)^t -1}    .................1

put here value and we get

Monthly Repayment on Loan  = 552000 × \frac{r(1+0.333)^{360}}{(1+0.333)^{360} -1}    

Monthly Repayment on Loan  = $2634.06

You might be interested in
(h) if you had $5,000 to start this company, which department would get the most funding? which department would get the least f
tatyana61 [14]
<span>If I were to start a business, the most money would be spent on hiring the right people for the job. The least money would be spent on advertising right off the bat because you need the vision of your newly-hired creatives to create the right advertising campaign for your business.</span>
4 0
3 years ago
Read the following actual bill. Sawtooth National Recreation Area and Jerry Peak Wilderness Additions Act Designates specified p
JulijaS [17]
The answer is "Amendments can be added to the bill in committee." This is because they can add some legal document to the bill and more programs to it. Programs such as building the subjects like c<span>emeteries and funerals, forests, land transfers, parks, recreation areas, and trails.</span>
8 0
3 years ago
g. You are deriving a gross income multiplier in the appraisal of a 14-unit apartment building. Market data is as follows: 16 un
liubo4ka [24]

The GIM suggested for the 14-unit property is 8.

Data and Calculations:

                                            16 units      12 units        4 units

Selling price                   $1,200,000  $960,000   $480,000

Gross income                    $150,000  $120,000      $48,000

Gross Income Multiplier               8               8                  10

A 14-unit apartment building's suggested GIM = 8                

A property's gross income multiplier (GIM) measures the property value by dividing the property's sale price by its gross annual rental income.

Thus, the GIM suggested for the 14-unit property is <em>8.</em>

Learn more: brainly.com/question/14477119

3 0
2 years ago
The electric utility rate for a facility during the months of May through October is 4.5 cents per kilowatt-hour for energy, $11
Minchanka [31]

Answer: $11564

Explanation:

Total units consumed for August = 96000

There's a peak demand of 624kw

Also, the May through October is 4.5 cents per kilowatt-hour for energy.

The August electric bill will then be:

= 96000 × 4.5/100 + 624 × 11.50 + 68

= (96000 × 0.045) + (624 × 11.50) + 68

= 4320 + 7176 + 68

= 11564

4 0
2 years ago
Which of the following is a variable expense?
Neporo4naja [7]

Answer:

car insurance

Explanation:

6 0
3 years ago
Read 2 more answers
Other questions:
  • Beta Corp., a gaming software company, had recently launched a new game. The target audience identified by the company was the a
    13·1 answer
  • Hyo runs an ice cream shop with her family. They just started letting customers fax in their ice cream orders. Sometimes the wri
    11·1 answer
  • Earley Corporation issued perpetual preferred stock with a 10% annual dividend. The stock currently yields 8%, and its par value
    7·1 answer
  • Bill is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenan
    7·1 answer
  • Is increasing the entrepreneurial orientation of a firm always a good thing? ​
    7·1 answer
  • A company purchased factory equipment for $590,000. It is estimated that the equipment will have a $59,000 salvage value at the
    12·1 answer
  • 1. It is said that a delay in critical path activity will delay the project, while a delay in a noncritical path activity will n
    15·1 answer
  • Classify each statement about the Federal Reserve System as either true or false.
    15·1 answer
  • Identify which method of overcoming objections did you use for each Boomerang. Question, Superior
    15·1 answer
  • The purposes of managerial accounting are to provide useful information to aid in?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!