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
Andre45 [30]
3 years ago
9

John House has taken a $250,000 mortgage on his house at an interest rate of 6 percent per year. If the mortgage calls for 20 eq

ual, annual payments, what is the amount of each payment?
Business
1 answer:
stiks02 [169]3 years ago
8 0

Answer:

$21,796.14

Explanation:

Use the Time Value of Money techniques to calculate the amount of each installment (PMT)

PV = $250,000

i =  6 %

n = 20

P/yr = 1

FV = $0

PMT = ?

Using a Financial calculator to input the values as above, each annual instalment/payment will be $21,796.14.

You might be interested in
Talk about your experience as a leader of a team at school?
Lera25 [3.4K]
It was very good I lead them army of students at a football team
8 0
3 years ago
Read 2 more answers
Daniel has decided to open his own bakery using locally sourced ingredients and supplies. He provides income and jobs to local s
Svetllana [295]

Answer:

This is an example of Invisible Hand.

Explanation:

The invisible hand concept describes the individual effort in providing benefit to overall society by his untiring efforts. The market force that helps the demand and supply of goods in a free market to reach equilibrium automatically and providing benefits to its own people.

6 0
3 years ago
A customer who is age 75 has been taking RMDs (Required Minimum Distributions) each year from his Traditional IRA in cash. This
ahrayia [7]

Answer:

Taking his RMD in form of shares in a depressed market is a good investment decision. As the price will bound back and he will make more money.

Explanation:

When a traditional IRA holder gets to the age of 72 years he is entitled to required minimum distribution payments. This is not obtainable with other IRA plans.

RMD can be taken as cash or as shares. There is not tax difference between the two options.

Normally cash is better since it is easier to get access to and the beneficiary gets the exact dollar amount.

However when there is a depressed stock market, taking RMD in shares is a better option. Shares are bought and sold when prices appreciate.

This is a better option than selling shares at the low market price.

4 0
3 years ago
We have the following data for a hypothetical open​ economy: GNP​ = ​$14 comma 00014,000 Consumption​ (C) = ​$7 comma 5007,500 I
sergij07 [2.7K]

Answer: $5,300

Explanation:

Private Saving refers to money that households did not consume nor pay as taxes so the formula is;

= Output - Consumption - Taxes

= 14,000 - 7,500 - 1,200

= $5,300

Public Saving refers to money that the government got as revenue but did not spend so the formula is;

= Taxes - Government Spending

= 1,200 - 1,200

= $0

Total Saving (Private + Public Saving)

= 5,300 + 0

= $5,300

8 0
3 years ago
A summer camp that offers one-week programs faces the challenges of long queues as parents try to check in their children each S
jeka57 [31]

Answer:

(i) the average time parents wait decreases

(ii) the maximum time the parents wait decreases

(iii) the average number of parents waiting to check in their child decreases

<u>(i), (ii) and (iii) are all correct</u>

Explanation:

The guardians and students sit tight in the line for check-in procedure and afterwards they really check=in. Here, the guardians and youngster are the customer though the staff which is helping the guardians and students are the server. With restricted servers and numerous customers, the line length builds which implies there are more guardians in the line which results into increment in the hanging tight time for each parent and thus the normal holding up time. Further, with longer lines the greatest holding up time is additionally higher.  

In this way, by including more staff for check=in, the quantity of customers can be expanded to take into account a similar number of patients. The line gets partitioned into numerous servers which results into each of the 3 advantages.

6 0
3 years ago
Other questions:
  • A stock has an expected return of 11.85 percent, its beta is 1.24, and the expected return on the market is 10.2 percent. What m
    7·1 answer
  • Suppose you are shipping 1,000 pounds of product to a customer location that is 500 miles away from you. The customer calls you
    9·1 answer
  • Which agricultural worker cuts down trees with chain-saws?
    11·2 answers
  • Please help me please
    13·1 answer
  • Your friend is having trouble saving money. How can you teach them the “pay-yourself-first principle”? Do you think this is an i
    10·1 answer
  • "A company offers ID theft protection using leads obtained from client banks. Four employees work 40 hour a week on the lead, at
    5·1 answer
  • Theresa, a cash basis taxpayer, purchased a bond on July 1, 2013, for $10,000, plus $400 of accrued interest. The bond paid $800
    11·1 answer
  • A vacant lot that measures 100 feet wide by 125 feet deep is listed at a price of $250 per front foot. The broker will collect a
    15·1 answer
  • Without creating a separate business organization, Roy starts up Sole Savers, a new, pre-owned auto sales enterprise. Roy is
    8·1 answer
  • These people perform many of the activities required to move products efficiently from producers to consumers or industrial buye
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!