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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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KATRIN_1 [288]

Right click the last data point and select "Set as Total"

<h3>What is accumulated total?</h3>

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Right click the last data point and select "Set as Total".

To learn more about accumulated total refer to:

brainly.com/question/13131255

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5 0
1 year ago
If people's trust in the banking system is reduced due to a surge in bank failures, the money expansion resulting from a new dep
rewona [7]

Answer:

b) decline

Explanation:

If people's trust in the banking system is reduced due to a surge in bank failures, the money expansion resulting from a new deposit will <u>decline</u>. This happens because people lost trust and hastily withdrawn their money deposited with the bank.

4 0
2 years ago
Many people have strong negative reactions to pop-up, pop-behind, interstitial, and rich media ads. Assume you are the director
julsineya [31]

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3 0
3 years ago
At year end, CurlZ, Inc.'s inventory consists of 370 bottles of CleanZ at $3 per bottle and 270 boxes of DyeZ at $10 per box. Ma
sasho [114]

Answer:

$3,270

Explanation:

Inventory should be value at lower of cost and market value.

Bottles of CleanZ:

Cost of inventory = Bottles of CleanZ × Price per bottle

                             = 370 × $3

                             = $1,110

Market value of inventory:

= Bottles of CleanZ × Market value per bottle

= 370 × $3.20 per bottle

= $1,184

Lowest of cost and market value of inventory is $1,110.

Boxes of DyeZ:

Cost of inventory = Boxes of DyeZ × Price per box

                             = 270 × $10

                             = $2,700

Market value of inventory:

= Boxes of DyeZ × Market value per box

= 270 × $8 per box

= $2,160

Lowest of cost and market value of inventory is $2,160.

Therefore, the DyeZ. CurlZ should report its inventory at:

= Lowest of cost and market value of inventor for (CleanZ + DyeZ)

= $1,110 + $2,160

= $3,270

3 0
3 years ago
What are two variables needed to calculate demand?
Ostrovityanka [42]
<span>"Price and quantity" are the two variables that are needed to calculate demand.


Demand refers to the amount or quantity that a man is both willing and ready to consume at each cost in a given time period, by keeping every single other thing consistent. When Price and quantity shift conversely by keeping all different things constant, it refers to the law of demand. </span>
7 0
2 years ago
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