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Lynna [10]
3 years ago
14

Joe Chin bought a house for $180,000. He made a 20% down payment. Joe secured a loan for the balance of the purchase price at 6.

5% interest for 15 years. What will be the monthly payments on the loan? (do not use commas or dollar signs in your answer)
Business
1 answer:
dusya [7]3 years ago
4 0

Answer:

the monthly payment is $910.18

Explanation:

The computation of the monthly payment is shown below:

Given that

PV = $180,000 - 20% of $180,000 = $144,000

NPER = 15 × 120 = 360

RATE = 6.5% ÷ 12 = 0.541666%

FV = $0

The formula is shown below:

=PMT(RATE;NPER;PV;FV:TYPE)

The present values comes in negative

After applying the above formula, the monthly payment is $910.18

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2 years ago
The current price of xyz stock is $50.00. dividends are expected to grow at 7% indefinitely and the most recent dividend was $1.
muminat
1/50+7 = 9.0 so the answer is 9.0
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3 years ago
Demand is not the same as quantity demanded. What factors will change the demand for a good?
DochEvi [55]

Answer:

Other factors that shift demand curves. Income is not the only factor that causes a shift in demand. Other things that change demand include tastes and preferences, the composition or size of the population, the prices of related goods, and even expectations.

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2 years ago
Johnston Company wants to double production of Product X from 1,000 units to 2,000 units. The variable manufacturing cost per un
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Answer: C - $30,000

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7 0
3 years ago
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Answer:

Option B Strategic Plan

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