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
A document in an auditor's working papers includes the following statement: "Our audit is subject to the inherent risk that mate
Y_Kistochka [10]

Answer: Option (2)

Explanation:

Engagement letter is referred to as an or known as an agreement for the services firm in order to provide the services to the client. This letter is known to be essentially an abbreviated agreement which defines services that are to be performed and also amount of the compensation that is to be paid. These letters are mostly required by the service firms that are engaged in the audit, tax, consulting, finance and legal advice.

7 0
3 years ago
How will an increase in labor productivity affect equilibrium in the labor market?
IRINA_888 [86]

We can actually infer here that an increase in labor productivity will affect equilibrium in the labor market in the following way: The demand for labor will increase and the equilibrium wage and quantity of labour will increase.

<h3>What is equilibrium?</h3>

Equilibrium refers to the state whereby opposing things are balanced in order to achieve a desired outcome.

If the labor productivity is increased, it will definitely affect equilibrium in the labor market in such a way that the demand of labor will increase.

Learn more about equilibrium on brainly.com/question/517289

#SPJ11

8 0
2 years ago
Larsen Corporation reported $200,000 in revenues in its 2021 financial statements, of which $66,000 will not be included in the
Anastaziya [24]

Answer:

$16,500

Explanation:

The computation of the deferred income tax liability for the year 2021 is shown below:

= Amount not included in tax return × enacted tax rate for 2022 year

= $66,000 × 25%

= $16,500

Simply we multiplied the amount not included with the enacted tax rate for 2022 year so that the correct amount could come

And, we ignored the other information given in the question

5 0
3 years ago
Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Activity Cost Pool Tota
asambeis [7]

Answer:

Meeting with clients= $175 per meeting hour

Explanation:

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Meeting with clients= 1,325,275/7,573

Meeting with clients= $175 per meeting hour

6 0
3 years ago
Unified Modeling Language (UML) Class diagrams describe the logical structure of a database system. True or False True False
Mashcka [7]

Answer:

True

Explanation:

The work of software developers is quite tough and confusing that is why the system of language was created to help them in their work. The system of language is known as a unified modelling language, it uses various diagrams to help them in solving various complex problems. This language provides a standard way to visualise the concepts that is why it is a logical structure of a database system.

8 0
3 years ago
Other questions:
  • Gordon Corporation produces 1,000 units of a part per year which are used in the assembly of one of its products. The unit cost
    9·1 answer
  • While discussing their marketing campaign for a new product, the members of the cross-functional team responsible for Carver Inc
    13·2 answers
  • Economics is different from other social sciences because it gives special emphasis to the study of ______; it is similar to oth
    5·2 answers
  • ​Smokey's Sandwich Shoppe paid​ $3,000 for a 2minusyear insurance policy on March​ 1, 2018. The accountant forgot to make any ad
    9·1 answer
  • Suppose that the Fed has decided to utilize the Taylor rule to implement monetary policy. If the actual federal funds rate targe
    7·1 answer
  • The mayor of Coast Town has determined that the best way to pay for the construction of a new library is to charge all residents
    13·1 answer
  • All your clients like to be listened to accurately. If your client is culturally different from you, it may be more difficult fo
    12·2 answers
  • Carol Beal is the export manager at Gudrun Sjoden USA, a licensed distributor for a Swedish designer. Carol has North America an
    8·1 answer
  • Heather and Alicia work at the same company, but in different departments. Heather is an individual contributor and she is respo
    7·1 answer
  • When it comes to market sizing, things tend to be a bit __________ for b2b sellers compared to b2c sellers.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!