Jason has a Visa credit card and the Annual Percentage Rate is 18%, what is the rate he will be charged interest on per month?

Ms. Towne is buying a home for $250,000 and is putting down 20% cash on the purchase. She is financing the rest with a 30-yr, fi

kipiarov [429]

Answer:

$180

Explanation:

the monthly payment = principal / annuity factor

principal = $250,000 x 80% = $200,000
PV annuity factor, 360 periods, 0.38542%= 194.4995527

monthly payment = $200,000 / 194.4995527 = $1,028.28

in total, you will pay $1,028.28 x 360 = $370,180.80, so total interests = $370,180.80 - $200,000 = $170,180.80

the biweekly payment = principal / annuity factor

principal = $250,000 x 80% = $200,000
PV annuity factor, 780 periods, 0.178%= 421.62071

monthly payment = $200,000 / 421.62071 = $474.36

in total, you will pay $474.36 x 780 = $370,000.80, so total interests = $370,000.80 - $200,000 = $170,000.80

During the 30 year period, you will be able to save $170,180.80 - $170,000.80 = $180 in interests

3 0

3 years ago

Teagan Company uses Departmental Overhead allocation to allocate its manufacturing overhead costs. It has identified two depart

Sunny_sXe [5.5K]

Answer:

Machining:

Allocated MOH= $603

Assembly:

Allocated MOH= $450

Explanation:

Giving the following information:

Machining:

Allocates overhead using machine-hours

Estimated manufacturing overhead: $670,000

Estimated machine-hours= 10,000

Assembly:

Allocates overhead using direct labor hours.

Estimated manufacturing overhead: $450,000

Estimated direct labor hours= 15,000 hours

First, we need to calculate the estimated manufacturing overhead rate for each department:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machining:

Estimated manufacturing overhead rate= 670,000/10,000= $67 per machine hour

Assembly:

Estimated manufacturing overhead rate= 450,000/15,000= $30 per direct labor hour.

Job 601:

Machining Department: 9 Machine Hours

Assembly Department: 15 DL hours

To allocate overhead we use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Machining:

Allocated MOH= 67*9= $603

Assembly:

Allocated MOH= 30*15= $450

5 0

3 years ago

Question 3

lozanna [386]

Answer:

OD All are signs of a serious gambling problem.

5 0

3 years ago

A preferred share of Coquihalla Corporation will pay a dividend of $8 in the upcoming year and every year thereafter; that is, d

ki77a [65]

Answer:

Intrinsic value is $114.30

Explanation:

Given:

Dividend paid = $8

Required rate of return = 7% or 0.07

There is no growth in dividends.

Calculate price of preferred share using DDM as shown below:

Price of preferred share = Dividend paid ÷ Required rate of return

= 8 ÷ 0.07

= $114.28 or $114.3

Therefore, price of preferred share is $114.30

6 0

3 years ago

Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: Number o

gladu [14]

Answer:

$303

Explanation:

The computation of the absorption costing unit product cost is shown below:

= Direct materials per unit + Direct labor per unit + variable manufacturing overhead per unit + Fixed manufacturing overhead per unit

= $149 + $112 + $7 + $35

= $303

Working note:

The Fixed manufacturing overhead per unit is measured below:

= Fixed manufacturing overhead ÷ Number of units produced

= $301,000 ÷ $8,600 units

= $35

6 0

3 years ago