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icang [17]
3 years ago
15

You are a business loan has a variable interest rate next month the annual rate will jump from 6.3% to 7.8%. Your balance is 1,6

20,000 how much your monthly payment go up
Business
1 answer:
sweet [91]3 years ago
3 0

Answer: $‭2,025‬

Explanation:

Your monthly payment based on the rate of 6.3% per annum is:

= (6.3% * 1,620,000 ) / 12 months

= 102,060‬ / 12

= $‭8,505‬

Now that the rate has gone up to 7.8% per annum, the payment is:

=  (7.8% * 1,620,000 ) / 12 months

= ‭126,360‬ / 12

= $‭10,530‬

Payment went up by:

= ‭10,530‬ - 8,505

= $‭2,025‬

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The allegheny corporation purchased machinery for
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6 0
4 years ago
Saving money is a(n) ____________________, because it involves less consumption in the present, but the ability to consume more
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5 0
4 years ago
Clark Company sells 8% bonds having a maturity value of $5,000,000 for $5,421,236. The bonds are dated January 1, 2017, and matu
avanturin [10]

Answer:

attached table

Explanation:

We use goal seek of excel to determinate the market rate:

Which is the rate that discounting the coupon payment and maturity matches the 5,421,236 we receive for the bond:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 200,000.000

time 10

rate 0.<em>030117724</em>

200000 \times \frac{1-(1+0.0301177235440986)^{-10} }{0.0301177235440986} = PV\\

PV $1,705,016.0533

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   5,000,000.00

time   10.00

rate  <em>0.030117724</em>

\frac{5000000}{(1 + 0.0301177235440986)^{10} } = PV  

PV   3,716,219.95

PV c $1,705,016.0533

PV m  $3,716,219.9467

Total $5,421,236.0000

Now, we determiante the schedule by doing as follow:

carrying value x market rate = interest expense

cash outlay per period: face value x coupon rate

the amortization will be the difference

after each payment we adjust the carrying value by subtracting the amortization

3 0
3 years ago
Shady lawyer. Brice had a number of ethical issues come up in law school involving alleged cheating but managed to graduate beca
Pie

Answer:

A. Brice has caused Susie to experience duress

Explanation:

Based on the information given BRICE HAS CAUSED SUSIE TO EXPERIENCE DURESS is true regarding Brice's attempt to obtain additional fees based on the fact Brice is threatening , Forcing and persuading Susie to do things against her will by threatening to report her due to her failure to pay income tax because she said that Brice does not have the legal right to obtain the money from the estate unless she kept her mouth shut and agree to the terms of the contract, which inturn makes Brice to attempt to collect additional fees based on Sam divorce case in return for not reporting her.

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3 years ago
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