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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

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Answer:

B) False

Explanation:

Chapter 4 of The China Study, called Lessons from China, the authors, Campbell and Dr. Campbell, state that a higher intake of animal protein was directly associated with higher rates of cancer, especially liver cancer.

The book advocates the need to substitute animal protein for vegetable proteins.

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Singapore banned the import, manufacture, and sales of chewing gum in the country since wads of gum were making a mess on sidewa
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Singapore way of governance is undisputed by their citizens based on the question. The statement shows that their is a definite harsh and strict way of rule in Singapore. Here is why,

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1. The state itself has a style of leadership that is somewhat harsh and autocratic.

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6 0
3 years ago
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The marketing concept
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3 years ago
Below is the complete list of accounts of Sooner Company and the related balance at the end of April. All accounts have their no
Cloud [144]

Answer:

Sooner Company

Trial Balance

For the month ended April 30, 202x

                                          Debit                 Credit

Cash                                $2,600

Accounts Receivable     $4,800

Prepaid Rent                   $6,100

Land                              $47,000

Accounts Payable                                      $3,000

Deferred Revenue                                      $1,650

Common Stock                                        $27,000

Retained Earnings                                    $19,750

Service Revenue                                      $24,100

Salaries Expense             $6,900

Supplies Expense             $8,100

Totals                              $75,500           $75,000

When you are preparing a trial balance, you must report the accounts with their normal balances, e.g. assets have a normal debit balance while equity has a normal credit balance.

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Even though the majority of people filing for bankruptcy due to medical bills have health insurance, their out-of-pocket expenses still end up being too high.
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