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2 years ago

Explain how the amount of a down payment affects your monthly mortgage payments.

Business

1 answer:

madam [21]2 years ago

7 0

Answer:

The more money you put down, the smaller your principal value becomes. Having a smaller principal value will make your monthly payments smaller.

Explanation:

The amount of a down payment you pay will affect your monthly mortgage payment. If you put a larger down payment on your mortgage/loan you will pay less in monthly mortgage payments. If you put a smaller down payment you will end up paying more monthly.

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A set of speakers may be purchased now for $1000 or by making a down payment of $150 and additional payments of $100 at the end

victus00 [196]

Answer:

the nominal annual interest rate on the payment plan is 15%

Explanation:

According to the question, a one-time payment for the speakers will cost $1,000

An installmental payment will have a $150 down payment and then another $100 fro ten subsequent months.

Calculating the total payment at tthe end of the payment plan will give

$150 + ($100 x 10months)

we have, $150 + $1,000 = $1,150.

This shows that at the end of the payment plan, the set of speakers would have cost $1,150 instead of $1,00 one-time payment.

Step 2:

To calculate the interest rate, we subtract the one-time price from the payment plan price and express it as a percentage of the one time price to get tthe interest rate.

$1,150-$1,000 = $150

then we have,

($150 ÷ $1,000) × 100%

= 0.15 × 100%

- 15%

The nominal annual interest rate is 15%.

Cheers.

4 0

3 years ago

Presented here are liability items for Skysong, Inc. at December 31, 2017. Accounts payable $298,300 FICA taxes payable $14,820

lord [1]

Answer:

Explanation:

The preparation of the liabilities section of Skysong's balance sheet is shown below:

Skysong, Inc.

Partial Balance Sheet

December 31, 2017

Liabilities

Current Liabilities

Accounts payable $298,300

FICA taxes payable $14,820

Notes payable (due May 1, 2018) $38,000

Interest payable $76,000

Unearned rent revenue $456,000

Income taxes payable $6,650

Sales taxes payable $3,230

Total Current Liabilities $893,000

Non - Current Liabilities

Bonds payable (due 2021) $1,710,000

Notes payable (due 2019) $152,000

Discount on bonds payable $77,900

Total Non -Current Liabilities $1,939,900

Total liabilities $2832,900

7 0

3 years ago

Another way to achieve the same goals as minimum wage and rent control (without keeping markets from reaching equilibrium levels

LekaFEV [45]

A.) personal income
with you using your own money nothing deducts or raises money for rent or wage.

8 0

2 years ago

Read 2 more answers

What challenges may arise if a U.S. project manager moves to a foreign country to manage a project for 5 years

inna [77]

Answer and Explanation:

The challenges that occurs is as follows;

1. Adaption of an outside atmosphere

2. Language related problem

3. Every person have different kind of understanding skills that is difficult also it must be adopted for explaining the project to the other people

So as per the given statement, the above represent the challenges that arise in the case when the project manager shifted to a foreign country for managing a project of 5 years

3 0

3 years ago

Alex axes Betty to death believing she is a tree trunk that he is splitting for firewood.

Romashka-Z-Leto [24]

Answer:

1: C. In most states, Alex would be found not guilty by reason of insanity.

2: C. fining the corporation.

3: D. shoot a man who is about to spray you with a water hose.

4: C. not guilty because he did not act on his plan.

5: C. a misdemeanor.

6: B. free because she acted under duress.

7: D. would have a conclusive presumption in his favor of not having been responsible.

8: D. have not engaged in a pattern of racketeering activity because they made only six sales.

9: A. the defendant's statements cannot be admitted as evidence.

10: C. arraigned

4 0

3 years ago