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
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

You might be interested in
What is the purpose of the pre-accident plan?
Natalija [7]
Having an established plan reduces the confusion that sometimes occurs with an accident. ... As part of the pre-accident planning, assign specific roles or duties to key personnel. These employees control specific aspects of the accident response to keep a handle on the situation. In short form, it is t<span>o establish procedures which result in preventing </span>accidents<span>.</span>
7 0
3 years ago
What is a characteristic of Cloud computing?​
Arisa [49]
Cloud computing services are paid for based on consumption. The business model is analogous to the utility, the rental car, or the hotel industries, where users don’t own any of the infrastructure (power/cars/rooms) and pay only for the services they consume on a monthly basis. Similar to the examples mentioned, cloud computing resources are available on-demand. That’s my three sentence synopsis of the business concept behind cloud computing, but I also see it as a technical change in the way IT resources are delivered and consumed.

Hope this helps!
8 0
3 years ago
An existing partner wants to contribute property having a basis less than its FMV for an additional interest in a partnership. a
tino4ka555 [31]

Answer:

He should not contribute the property to the partnership.

Explanation:

There is an ensuing loss if the partner contributes the property to the partnership instead of a gain.  Partnerships recognize the basis of contributed capital.  They usually compare the fair market value with the book value to determine if a loss has been incurred or a gain made. However, the tax consequences of the contributed property will be allocated to the partner making the property contribution.

8 0
3 years ago
If a payment cap is applied and the required payment does not cover the interest expense, the unpaid interest is added to the lo
spin [16.1K]

The condition when a payment cap is applied and the required payment does not cover the interest expense, the unpaid interest is added to the loan thereby increasing the loan balance even though the required payment is being made, is known as a negative amortization.

<h3>What is negative amortization?</h3>

A condition where the amount owed by an individual keeps adding even after the repayments are done is known as negative amortization.

Such condition of a negative amortization arises as the amount being repaid does not fully or partly cover the interest amount.

Hence, the significance of negative amortization is aforementioned.

Learn more about negative amortization here:

brainly.com/question/22232264

#SPJ1

6 0
2 years ago
Sanchez Company has 48,000 shares of 7% preferred stock of $100 par and 92,000 shares of $50 par common stock issued and outstan
galina1969 [7]

Answer:

Check Explanation.

Explanation:

The following parameters are given for dividends of three years;

Year 1 = $497,000, Year 2 = $490,000 Year 3 = $524,000.

The number of shares= 48,000 of 7%, preferred stock = $100 par and 92,000 shares of $50 par common stock issued and outstanding.

Therefore,

Year one:

=> Amount Distributed = $497,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = 497,000 - 336,000 = 161,000.

=> Preferred divided per share = 336,000/ 48,000 = $ 7.

=> Common dividend = Common dividend/ 92,000 shares = 161,000/ 92,000 shares =$ 1.75.

Year Two:

=> Amount Distributed = $490,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = 490,000 - 336,000 = 113,000.

=> Preferred divided per share = 336,000/ 48,000 = $ 7.

=> Common dividend = Common dividend/ 92,000 shares = 113,000/ 92,000 shares =$1.23.

Year Three:

=> Amount Distributed = $524,000.

=> Preferred dividend = 48,000 × 7% × $100 = 336,000.

=> Common dividend = $524,000 - 336,000 = 188,000.

=> Preferred divided per share = 336,000/ 48,000 = $7.

=> Common dividend = Common dividend/ 92,000 shares = 188,000/ 92,000 shares =$2.04

6 0
3 years ago
Other questions:
  • A company has an investment project that would cost $10 million today and yield a payoff of $15 million in 4 years.
    12·1 answer
  • Monique involves her staff as much as possible in decisions that affect guest services at the brainbook hotel. many of her emplo
    13·1 answer
  • When Hurricane Katrina shut down many oil refineries, the supply curve for oil
    12·2 answers
  • Suppose the demand for tacos decreases. What will happen to producer surplus in the market for tacos?
    15·1 answer
  • Most companies allocate facility-level activity costs directly to products for decision-making purposes.True or false?
    5·1 answer
  • Drag the tiles to the correct boxes to complete the pairs.Match the specifications to the criteria that the bank looks into befo
    7·1 answer
  • A medium-size skincare company based in Minnesota plans to expand operations into four countries in Europe. The company decides
    13·1 answer
  • If oregon passed a statue that prohibited liquor stores
    11·1 answer
  • Alfarsi Industries uses the net present value method to make investment decisions and requires a 15% annual return on all invest
    13·1 answer
  • During its first year of operations, Novak Corp. Had these transactions pertaining to its common stock. Jan. 10 Issued 26,000 sh
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!