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
vlabodo [156]
3 years ago
5

Mr. Bell buys a home for an unspecified amount. He pays a down payment of $20,000 and finances the remainder for 15 years with l

evel end-of-month payments of $1,692. The annual effective interest rate for the first five years is 4%, and thereafter it is 6%. Mr. Bell sells the house just after making his 100th mortgage payment. The selling price is $258,000. How much money will Mr. Bell get at closing? (Remember, the loan holder is paid first, and then Mr. Bell receives the balance of the inflow from the resale.)
Business
1 answer:
vampirchik [111]3 years ago
8 0

Answer:

$146,105.22.

Explanation:

First, find the monthly interest rate from an effective rate of 6%

Rate = (1.06) ^ (1/12) - 1 = 0.00486755

Present value = 1692 [1 - (1.00486755) ^ - (180-100)] / 0.00486755 = 111,894.78  

At closing = 258,000 - 111,894.78 = $146,105.22

You might be interested in
What are examples of cocurricular education? Check all that apply.
DENIUS [597]

a CTSO for students taking marketing classes

a club providing hands-on laboratory experience for students taking a science class

an agricultural organization for students in an agricultural school

4 0
2 years ago
Read 2 more answers
A company wishes to raise $170 million by issuing 20-year annual coupon bonds. Each bond will have a face value of $1,000; coupo
Margarita [4]

Answer:

The answer to the question is B I51,753 bonds

Explanation:

The present price of the bond and the total amount to be raised of $170m were used in arriving at the number of bonds to be issued.

n 20  

Coupon 6.60%  

YTM 7.7%*1000=77  

FV 1000  

PV ($1,120.25)  

The current price of the bond   $1,120.25  

Total amount to be raised   $170,000,000  

Number of bonds to be issued=total amount /bond price    151,752 approx...151753

Find attached spreadsheet with formulas so as to be able to follow through.

Download xlsx
6 0
3 years ago
Which idea is explicitly stated in the article "what a bad flu season could cost the us economy"?
geniusboy [140]
C. Some sources say the flu vaccine could lessen negative affects on the economy.
- Apex
4 0
3 years ago
Read 2 more answers
A vendor has learned that, by pricing caramel apples at $1.25, sales will reach 111 caramel apples per day. Raising the price to
Wittaler [7]

Solution:

Slope = y2 - y1 / x2 -x1

slope = 81 - 111 / $2.00 - $1.25

slope = -30/$0.75

So every $0.75 increase causes a decrease of 30 sales.

So the rise over run or slope of the line is -30/0.75 = -40/1

Start forming the equation:

y = mx + b

y = -40x + b

Substitute one of the points to find the y-intercept:

81 = -40(2) + b

Isolate for the y-intercept:

b = 161

So,

y = -40x + 161

7 0
3 years ago
The government of the United States is worried that the inflation rate is too high. What fiscal policy would the US government a
balandron [24]

Answer: decrease government spending

Explanation:

Since government spending leads to employment generation and business activity which in turn increases incomes and spending. A decrease in government spending will keep demand and consequently inflation in check.

3 0
3 years ago
Other questions:
  • In a market, consumers get extra benefits called _____, while businesses receive extra benefits known as _____. consumer surplus
    8·1 answer
  • Rovinsky Corporation, a company that produces and sells a single product, has provided its contribution format income statement
    8·1 answer
  • Suppose an oligopolistic producer assumes its rivals will ignore a price increase but match a price cut. In this case the firm p
    8·1 answer
  • Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $3,000 in the bank and leave it there: (Do not ro
    12·1 answer
  • Explain whether you agree or disagree with the following statement.
    15·1 answer
  • Last year, Capriana Corporation (CC) had sales of $200 million, and its inventory turnover ratio was 5.0. The CC’s current asset
    11·1 answer
  • (Money matters)
    9·1 answer
  • Have you ever bought an item you didn't plan to? If yes, why do you think that happened?​
    12·2 answers
  • Producing output at the lowest possible total cost per unit of production is: Multiple choice question.
    7·1 answer
  • Prior to renewal, a licensee must complete ________ credit hours of approved continuing education courses, _______ of which must
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!