Cassidy's approximate monthly payment stands at $1420. if Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.
<h3>What is the payment monthly?</h3>
The monthly payment is the quantity paid per month to pay off the loan in the time period of the loan. When a loan is taken out it isn't only the top amount, or the original payment loaned out, that needs to be repaid, but also the good that accumulates.
<h3>What is a loan amortization schedule?</h3>
It is described as the systematic method of representing loan payments according to the time in which the principal amount and interest exist mentioned in a list manner
It is given that:
- Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.
- A fixed annual interest rate of 2.7% compounded monthly for 15 years.
The formula is:
![P=F_{P} (i)/1-(1+i)^{-1}](https://tex.z-dn.net/?f=P%3DF_%7BP%7D%20%28i%29%2F1-%281%2Bi%29%5E%7B-1%7D)
Plug all the values in the above formula:
![P=210000(2.7/12)/1-(1+(2.7/12)^{-15*12}](https://tex.z-dn.net/?f=P%3D210000%282.7%2F12%29%2F1-%281%2B%282.7%2F12%29%5E%7B-15%2A12%7D)
$1420.
Hence,
Cassidy's approximate monthly payment stands at $1420.
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There will be inadequate liabilities.
What Does Sales Revenue Mean?
Sales revenue is the money a business makes from selling products or offering services. Sales and revenue can, and frequently are, used interchangeably to refer to the same thing in accounting. It is significant to remember that revenue does not always equate to money received. One part of sales revenue may be paid in cash, and the other part may be paid on credit using methods like accounts receivable.
Either the gross revenue total or the net revenue amount can be used to represent sales revenue on the income statement. All deductions for product returns, the potential for undelivered items, and the cost of bad debt are all included in net revenue.
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Answer:
The correct answer is: $12,000
Explanation:
uncollectible debt = 6% of net sales
= 6/100 × 200,000
= 0.06 × 200,000 = $12,000
Therefore, $12,000 will be removed (debited) from the bad debt expense because it is uncollectible, and it is added (credited) to the Allowance for Doubtful accounts as bad debt to be paid for in the bad debt reserve account.
Answer:
I would say A or D. But I'm leaning towards D - patterns created to attract young and affluent customers.