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Stells [14]
3 years ago
12

You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current mo

nthly payment is $ 2 comma 356 and you have made every payment on time. The original term of the mortgage was 30​ years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 7.500 % ​(APR). How much do you owe on the mortgage​ today? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.)
Business
1 answer:
Serhud [2]3 years ago
7 0

Answer:

$320,244.92

Explanation:

We must first determine the principal of the loan and we can do that by using the present value of an annuity formula:

PV = monthly payment x annuity factor

  • monthly payment = $2,356
  • PV annuity factor, 360 periods, 0.625% = 143.01763

PV = $2,356 x 143.01763 = $336,950

Once we have calculated the principal, we can prepare an amortization schedule. I used an excel spreadsheet to do it. Four years and 8 months is the same as 56 monthly payments. The principal's balance after the 56th payment is $320,244.92

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The following information relates to Moran Co. for the year ended December 31, 2020: net income $1,245.7 million; unrealized hol
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Answer:

a. Other Comprehensive income for 2020 = Unrealized holding loss = -$10.9 million

b. Comprehensive income for 2020 = Net income - Unrealized holding loss = $1,245.7 million -$10.9 million = $1,234.8 million

c. Accumulated other comprehensive income at December 31, 2020 = Accumulated other comprehensive income - Other Comprehensive income for 2020 = $57.2 million - $10.9 million = $46.3 million

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3 years ago
Mrs. Jones always wanted a white picket fence in front of her house. Mr. Jones, her husband, wants a fence around the entire hou
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Answer:

The dimensions for the entire area will give the cheapest cost for the entire fence are 40 feet in front, 100 feet on each side, and 40 feet on bottom.

Explanation:

Since Mrs. Jones always wanted a white picket fence in front of her house, and Mr. Jones, her husband, wants a fence around the entire house including a decently-sized lawn in the front and a garden in the back, and the fence border should look like a rectangle, and I have calculated that he would need to fence off an area of ​​4,000 square feet in order to fit all these things, and he wants to appease his wife and at least build the white picket fence in front of the house, and he plans to build the rest of the fence with chain link, a cheaper material, given that a white picket fence costs $ 7 per foot and a chain link fence costs $ 4 per foot, to determine what dimensions for the entire area will give the cheapest cost for the entire fence, the following calculation should be performed:

Area of ​​a rectangle = base times height = Z x Y = 4,000

80 x 50 = 4,000

40 x 100 = 4,000

20 x 200 = 4,000

20 x 7 x 2 + 200 x 4 x 2 = X = 280 + 1600 = 1880

40 x 7 x 2 + 100 x 4 x 2 = X = 560 + 800 = 1360

80 x 7 x 2 + 50 x 4 x 2 = X = 1120 + 400 = 1520

Therefore, the dimensions for the entire area will give the cheapest cost for the entire fence are 40 feet in front, 100 feet on each side, and 40 feet on bottom.

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3 years ago
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Answer:

1.

April 30

No entry​ required

This is because Cruz​'s attorney is certain it is remote that Cruz will lose this lawsuit.

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Working = 360,000 * 4%

= $14,400

July 28

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CR Cash $6,400

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3 years ago
In a large open economy, what is the source of the demand for loanable funds?.
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In a large open economy, the source of the demand for loanable funds comes from domestic investment and net capital outflow.

<h3>What is an Open economy</h3>

An open economy refers to a type of economy where not only domestic factors but also entities in other countries participate in trade of goods and services.

Trade in an open economy can be in the form of managerial exchange, technology transfers, and all kinds of goods and services.

Learn.more about an open economy at brainly.com/question/23160076

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Answer:

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