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
kirill115 [55]
3 years ago
13

You need a 35-year, fixed-rate mortgage to buy a new home for $295,000. Your mortgage bank will lend you the money at an APR of

5.9 percent. However, you can only afford monthly payments of $1,350, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $1,350

Business
1 answer:
Anika [276]3 years ago
8 0

Answer:

$434,780.69

Explanation:

The computation of the large the ballon payment would be is determined by using the future value formula i.e. to be shown in the attachment

Provided that

Present value = $295,000

Rate of interest = 5.9% ÷ 12 months  = 0.49166%

NPER = 35 years × 12 months = 420 months

PMT = $1,350

The formula is shown below:

= -FV(Rate;NPER;PMT;-PV;type)

So, after applying the above formula, the future value is $434,780.69

You might be interested in
According to Colorado Real Estate License Law, how long is an agent responsible for maintaining client confidentiality?
Morgarella [4.7K]

Answer:

Three years from the expiration of the contract .

Explanation:

5 0
3 years ago
The first letter of a word that means a waiting line, as at a ticket counter, movie, or bank:
oee [108]
The answer to this question is: Q
Many business use the word Queque to indicate a wating line. The word first originated from a programming language.
The word is used to describe the task that must be processed after the data that is currently processed is finished, and many businesses adopt this word after it got popular.
7 0
3 years ago
Patents are an example of which of the following?
Kitty [74]

Answer: Option (B) is correct.

Explanation:

Correct option:  limited-life intangible assets.

Patents are considered as a intangible assets. Patents are the intellectual property that a owner can use to exclude others from making, selling and coping technology but for a limited number of years.

In most of the nations patent rights fall under the civil law and if a person wants to take benefit of their patent right then he have to sue someone for infringing the patent to enforce his right.

6 0
3 years ago
What tends to cause structural unemployment?<br> Economics
Yuri [45]

Answer:

Structural unemployment occurs because workers lack the requisite job skills or live too far from regions where jobs are available and cannot move closer. Jobs are available, but there is a serious mismatch between what companies need and what workers can offer.

Explanation:

4 0
2 years ago
Jeff was in a department store standing near a clothing rack. Store security felt that he was acting suspiciously because he was
liraira [26]

Answer:

c. No; the facts of this situation do not provide reasonable grounds for a stop and search. Any attempt to do so by store security could result in a claim of false imprisonment.

Explanation:

According to the situation described in the question above, store security has no right to stop and search for Jeff. Therefore, the letter c is the most correct answer to this question.

Jeff's actions in the store do not provide sufficient reasons for there to be any kind of stop and research, as the facts in the situation do not provide enough information about an illegal act, so if store security forces a situation there could be legal damage to the store .

Therefore, it is essential that stores adopt a theft prevention strategy, with an effective security system and a team prepared to carry out correct approaches.

4 0
2 years ago
Other questions:
  • Jerry lost his credit card and instead of reporting it right away, he decides to continue looking for it believing he could find
    6·2 answers
  • A(n)__________ is a team intentionally composed of employees from different departments of an organization.
    13·2 answers
  • Based on the financial information and henry’s Preferred lifestyle what do you recommend for Henry - should he rent the apartmen
    13·1 answer
  • Everett, Miguel, and Ramona are partners, sharing income 1:2:3. After selling all of the assets for cash, dividing losses on rea
    11·1 answer
  • How might an economist gather empirical data to test the proposed relationship between money and the price level?
    7·2 answers
  • Evaluate a. "If banks increase their excess reserves, the monetary base will increase. If the monetary base increases, the money
    14·1 answer
  • The elements of professionalism contains_ attributes.
    5·1 answer
  • Why should you investigate the regular interest rate of the card along with the introductory offer?
    9·1 answer
  • Sarasota’s Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers.
    13·1 answer
  • Kim-Lee founded a software development company at the age of 27. Over time, he developed the company into a multibillion-dollar
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!