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3 years ago

The schedule showing how monthly mortgage payments are split into principal and interest is called a(n) Group of answer choices

Business

2 answers:

allochka39001 [22]3 years ago

7 0

Answer:

Amortization schedule.

Explanation:

Amortization schedule is is a table that's shows periodic payments that is made on a loan. It shows the principal and the interestbthat is paid for each period till the loan is completely paid off at the end of its term.

Usually initial payments comprise more of the interest to be paid and less of principal amount (for example principal of $7 and interest of $78).

Later payments are made up of more of the principal and less of interest (for example principal of $80 and Interest of $5)

Percentage of interest component decreases while percentage component of principal increases.

Aleks04 [339]3 years ago

6 0

Answer: amortization schedule

Explanation: mortgages are long-term loans (it is a type of amortized loan) that are designed to help one buy a house and in addition to repaying the principal on the loan, one also pays interest in regular installments over a period of time to the lender with the home and land serving as collateral. The amortization schedules or tables display the exact amount of principal and interest that make up each payment. It helps keep monthly payments equal while changing the relative amount of principal versus interest in each payment made. Typically, the longer the amortization schedule, the more affordable the monthly payments, however, more interests are paid in the long run due to the length of time.

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You are planning your retirement in 15 years. You plan to retire with $3,000,000 and your retirement account earns 4.8% compound

Maslowich

Answer:

The retirement fund will last for 33 years and 7 months

Explanation:

We need to solve for time in an ordinary annuity

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C $15,000.00

rate 0.004 (4.8% divide by 12 month)

PV $3,000,000

time n

$15,000 \times \frac{1-(1+0.004)^{-n} }{0.004} = 3,000,000\\$

we clear for n as much as we can and solve

$(1+0.004)^{-n}= 1-\frac{3,000,000\times0.004}{15,000}$

$(1+0.004)^{-n}= 0.20$

now we use logarithmic properties to solve for n:

$-n= \frac{log0.2}{log(1+0.004)$

-403.16

this will be a value in months so we divide by 12 to get it annually

403/12 = 33,5833

we convert the residual to months:

0.5833 x 12 = 6.996 = 7 months

6 0

3 years ago

Harriet's Wimsey is a bookstore for people who love mysteries. How would a complete set of P. D. James mystery novels, a first e

adoni [48]

Answer:

E. as current assets

Explanation:

As we know that the

Balance sheet records the total assets, total liabilities and the stockholder equity

Where

The total assets comprises of current assets, tangible assets, and the intangible assets

And, the total liabilities comprises of current liabilities and the long term liabilities

In the given scenario, the purchase of the newest Dorothy Cannell book be listed on the store's balance sheet. So here, the newest Dorothy Cannel book represent the current asset side of the balance sheet

5 0

3 years ago

Can we get negative cost of equity? and what does it represent?

Dovator [93]

Yes u can get negative cost of equity

8 0

4 years ago

Read 2 more answers

Suppose that the federal reserve decides to decrease the money supply with a $300 sale of treasury bills. Complete the tables th

ANEK [815]

The monetary base is a liability, whereas Treasury notes are assets.

tables that represent the financial position of the federal reserve and commercial banks after this open-market operation:

A $ 300, B $ 300, C $ -300, D $ 300

a negative sign use for reduced values.

<h3>What do we mean by asset?</h3>

A resource having economic worth that a person, business, or nation owns or manages with the hope that it will someday be useful is referred to as an asset. A company's balance sheet lists assets. They are acquired or produced to raise a company's value or improve the operations of the company. Physical commodities like equipment, real estate, raw materials, and inventories are considered assets. Intangible objects like patents, royalties, and other forms of intellectual property are also considered assets.

To know more about asset visit:

brainly.com/question/13848560

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3 0

2 years ago

Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning invento

lakkis [162]

Answer:

Ending inventory cost= $5,556.92

Explanation:

Giving the following information:

Mar. 1 Beginning inventory 900 $ 7.26

Mar. 10 Purchase 520 7.76

Mar. 16 Purchase 452 8.36

Mar. 23 Purchase 510 9.06

Units sold= 1,760

<u>Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the costs of the last units incorporated into inventory:</u>

<u></u>

Units in ending invnetory= 2,382 - 1760= 622

Ending inventory cost= 510*9.06 + 112*8.36

Ending inventory cost= $5,556.92

3 0

3 years ago