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vazorg [7]
3 years ago
5

Bob got a 30 year Fully Amortizing FRM for $1,500,000 at 4%, except with non-constant payments. For the first 2 years Bob will p

ay $1,250 per month. The loan will become a fully amortizing mortgage after 2 years. What will be the balance on this mortgage after 2 years
Business
1 answer:
ikadub [295]3 years ago
5 0

Answer:

$1,593,535.83

Explanation:

Future Value of mortgage determines the future value of a mortgage after payments have been made, at a regular frequency, charged a regular rate of interest, compounded at payment dates.

DATA

PV = $1,500,000

N = 24

r = 0.04/12

PMT = $1250

FV =?

Solution

PV = (PMT/r)*[1 – 1/(1 + r)^N] + FV/(1 + r)^N

1,500,000 = (1250/(0.04/12)) * (1 – 1/(1 + 0.04/12)^24) + FV/(1 + 0.04/12)^24

1,500,000 = 28785.31353687 + 0.92323916 FV

FV = (1,500,000 - 28785.31353687)/ 0.92323916

FV = $1,593,535.83

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Answer: Megacities

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Mr. and Mrs. Atoll are planning a party for 10 people and want to make sure they have enough soda for everyone to have two bottl
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Answer:

C. One case of 24 sodas at $18.50

Explanation:

The key is in the unit cost per bottle.

A. Each bottle of soda costs $1.50

B. 6 bottles sodas at $5.00 = $5.00/6 bottles = $ 0.83 per bottle

C. This options represent the lowest cost for each bottle of soda. If We divide $18.50 by 24 the unit cost is $0.77 per bottle.

Besides, 24 bottles is an enough amount for the guests, guaranteeing at least two bottles per guest as Mr. and Mrs. Atoll want.

D. Although the unit cost is the same as option C, the amount exceeds what is really needed for the party. This option involves incurring unnecessary expense.

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3 years ago
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New college graduates still looking for their first jobs would be classified in the BLS data as.
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Answer:

<h2>Frictional unemployment</h2>

Explanation:

People remain temporarily unemployed when they leave their old jobs for the job which is better for their preference and skills, this type of unemployment is called frictional unemployment. It also includes the students who have graduated and are still unemployed. Economists consider it to be good for the economy as finding as job which matches their skills takes time and when such a job is found it allows people to fully utilise their skills.

8 0
3 years ago
Analyze the transactions of a business organized as a proprietorship described below and indicate whether the transaction increa
Molodets [167]

An accounting transaction is a business activity or event that causes a measurable change in the accounting equation is described below.

Explanation:

  • Owner's Equity Assets Liabilities Decreased Increased
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  • Paid employees salaries. Decreased increased Received cash from customer in payment on account Decreased d
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7 0
3 years ago
Cooperative San José of southern Sonora state in Mexico makes a unique syrup using cane sugar and local herbs. The syrup is sol
Snezhnost [94]

A hastily prepared report for the Mixing Department for April appears below:

Units to be accounted for:

Work in process, April 1 (materials 90% complete;

conversion 80% complete) 30,000

Started into production 200,000

Total units to be accounted for 230,000

Units accounted for as follows:

Transferred to next department 190,000

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Cost Reconciliation

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Total cost to be accounted for $ 925,000

Cost accounted for as follows:

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Transferred to next department 805,600

Total cost accounted for $ 925,000

Management would like some additional information about Cooperative San José's operations .

To know more about cost reconciliation visit:

brainly.com/question/24149196?

#SPJ4

4 0
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