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
tensa zangetsu [6.8K]
3 years ago
12

You purchase a $325,000 town home and you pay 25 percent down. You obtain a 30-year fixed-rate mortgage with an annual interest

rate of 5.75 percent. After five years you refinance the mortgage for 25 years at a 5.1 percent annual interest rate. After you refinance, what is the new monthly payment (to the nearest dollar)
Business
1 answer:
Vilka [71]3 years ago
7 0

Answer:New Monthly Payments  = $1613.81

Explanation:

Present Value = $ 325000( 1 -0.25) = 243750

n = 30 x 12 = 360

R = 5.75%/12

Monthly payments (30 year Bond) = rPV/(1 - (1+R)^-n)

Monthly payments (30 year Bond) =(0.0575/12 x 243750)/ (1 - (0.0575/12^-30))

Monthly payments (30 year Bond) = 1167.9687338/ 0.1335983624

Monthly payments (30 year Bond) = 8742.38810013 = 8742.39

Balance of the loan in 5 years

Balance = PV(1+r)^n - P((1+r)^n -1)/r

Balance = 243750(1 + 0.0575)^5 - 8742.39((1 + 0.0575)^5 - 1)/0.0575

Balance = 322363.9769 - 49036.27513 =273327.70177

Balance = 273327.70

New Monthly Payments = (0.0510/12 X 273327.70 )/ (1 - (1 + 0.510/12)^-300)

New Monthly Payments = 1161.642725/ 0.7198130660

New Monthly Payments = 1613.811684 = $1613.81

You might be interested in
When you arrive for your job interview, the interviewer greets you with a warm handshake and a smile. While you speak, he smiles
denis23 [38]

Answer:

b. He is actively engaged in your interview.

Explanation:

In most cultures, smiling implies friendliness. In the United States, nodding and maintaining consistent eye contact show interest and engagement in a conversation and respect for the speaker. By combining these three nonverbal behaviors, the interviewer is expressing active, positive interest in your interview.

7 0
2 years ago
Concord Company uses the FIFO method to compute equivalent units. It has 4000 units in beginning work in process, 20% complete a
Andrej [43]

Answer:

67,840 units

Explanation:

The computation of the equivalent units for material by using the FIFO method is shown below:

<u>Particulars       Unit       Percentage completion   Equivalent units</u>

Opening

inventory       4,000 units     50%                          2,000 units

Completed

& transferred

(67,000

- 5,800)        61,200 units    100%                         61,200 units

Closing  

inventory      5,800 units      80%                         4,640 units

Total                                                                       67,840 units

8 0
3 years ago
Gloria is a broker for Jan. Jan is not satisfied with Gloria's work, so she fires her by email three months into a six-month ter
Blababa [14]

No, Gloria can not legally continue to work for Jan, because Jan has withdrawn her consent for Gloria to act on her behalf.

<h3>What is meant by consent?</h3>

Consent refers to the parties' mutual comprehension of the terms of the agreement. The contract requires the voluntary assent of both parties. If there are certain mistakes, or if one party attempts to deceive or pressure the other, consent will not be considered voluntary or genuine.

The importance of consent in business-

  • Regardless of how you phrase it, consent helps us be more successful marketers.
  • It makes us "ethical" marketers who recognize that acting morally will increase our chances of success in addition to ensuring that we abide by the law.

The three sorts of consent that an organization may get are as follows:

  1. Explicit Consent: An individual must be given a clear choice regarding whether to agree or object to the collection, use, or disclosure of their personal information in order to give their explicit consent.
  2. Implicit Consent: Implied consent is consent that isn't explicitly given by a person but is instead inferred from their behavior and the specific facts and circumstances surrounding the scenario (or, in certain cases, from their silence or inactivity).
  3. Opt-out Consent: Organizations do not need to get the user's consent before collecting and using their personal data if they have an opt-out consent.

To know more about laws and regulations important for employers, here

brainly.com/question/26463698

#SPJ4

4 0
2 years ago
"In the past few years, McDonald’s has made a lot of changes to its menu, adding more healthy choices and more higher-priced ite
Andreas93 [3]

Answer: This can be explained as follows:-

Explanation: MCdonalds change in menus and adding more healthy choices does brings change in the traditional value chain of the company.

In traditional times company was mainly focused towards the taste of the product and  to make the service as fast and as efficient as possible but now the company is taking care of the health of its customers. Company wants to attract new customer base of health conscious people. In traditional times company's aim was to make quick service to get the tables ready every time a customer walks in but today company wants to make the restaurant a place where people can sit and enjoy their meal for a while and company is taking help of technology in this.

3 0
3 years ago
The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the followi
Elanso [62]

Answer:

the Cash Received from Customers is $548,400

Explanation:

The computation of the cash amount received by the customers is as follows:

Cash Received from Customers is

= Sales + Decrease in Accounts Receivables

= $516,400 + $32,000

= $548,400

hence, the Cash Received from Customers is $548,400

We simply applied the above formula so that the correct value could come

And, the same is to be considered

7 0
3 years ago
Other questions:
  • Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2015, 125 share
    7·1 answer
  • Pell is the principal and Astor is the agent in an agency coupled with an interest. In the absence of a contractual provision re
    10·1 answer
  • Economics is the study of how evenly goods and services are distributed
    9·1 answer
  • Rami Essaid worked for a large computer security firm. As part of his employment agreement, he had been told about and initialed
    12·1 answer
  • A process currently services an average of 50 custom-ers per day. Observations in recent weeks show that its utilization is abou
    13·1 answer
  • A decrease in the price of domestically produced industrial robots will be reflected in Group of answer choices both the GDP def
    11·1 answer
  • The marginal propensity to consume is the:
    8·1 answer
  • 2. Jamie Lee and Ross are estimating that they will be putting $40,000 from their savings account toward a down payment on their
    9·1 answer
  • How can we develop desicion making skill on ourselves​
    9·1 answer
  • When analyzing segment attractiveness, one of the three factors to consider is the segment’s strategic fit to the company’s
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!