Answer:
$1,103.56
Explanation:
In this question, we use the PMT formula that is shown in the attachment. Kindly find it below:
Provided that
NPER = (82 - 66) × 12 = 192
Present value = $136,000
Future value = $0
Rate of interest = 6% ÷ 12 months = 0.5%
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the monthly payment is $1,103.56
Answer:
Future Value= $158,475.64
Explanation:
Giving the following information:
He saves $500 per month for 15 years and earns 7% by investing in the stock market through an index fund.
I assume we have to determine the value of the investment at the time of retirement.
<u>We need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit= 500
n= 15*12= 180
i= 0.07/12= 0.005833
FV= {500*[(1.005833^180) - 1]} / 0.006833
FV= $158,475.64
Answer:
$163,104
Explanation:
loan principal = monthly payment x PV annuity factor
monthly payment = $950
PV annuity factor, 0.4583%, 240 periods = 145.3726
loan principal = $950 x 145.3726 = $138,104
the price of the house = down payment + loan = $25,000 + $138,104 = $163,104
Answer:
b. Property tax revenue for an amount deferred because it was not available
Explanation:
Government statement of activities shows the various expenses and revenue that the government has within a given period. It is usually on accrual basis.
While statement of revenues, expenditure and change in fund shows revenue and expense items that have been incurred by the government. This is not based on accrual but actual revenue earned and expense incurred.
So property tax revenue for an amount deferred because it was not available. Will appear on government statement of activities but will not appear in statement of revenue, expense, and change of funds because no present revenue or expense is involved.
Answer and Explanation:
1. Marta cannot avoid the contract on the basis of a mistake of buying the house because she was supposed to inspect the house she was buying
2. Marta cannot sue Chelene for fraudulent misrepresentation because Chelene was not aware of the condition of the house. The elements in fraudulent misrepresentation are lacking : no intention to deceive, no misrepresentation of material facts
3. It would be Chelene's duty to reveal that there is defect in the house and if not the court would see this as misresprentation.
4. There was no undue influence from Chelene in selling the house and so Marta and Janis even she was alive cannot revoke the contract on this basis
