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
Citrus2011 [14]
3 years ago
5

How much TOTAL (principle and interest) will be paid over the life of the following loan: $185,000 loan; 7% annual interest (mon

thly payments); 30 years?
Business
1 answer:
Yuri [45]3 years ago
5 0

Answer:

$443,091.5

Explanation:

Given that,

Amount of loan, present value = $185,000

Annual rate of interest, r = 7% ÷ 12

                                         = 0.00583

Time period = 30 years

Therefore,

Monthly payments:

=\frac{r\times PV}{[1 - (1+r)^{-n}]}

=\frac{0.00583\times 185,000}{[1 - (1+0.00583)^{-30\times12}]}

=\frac{1,078.55}{[1 - (1.00583)^{-360}]}

= 1230.81

Total (principle and interest) will be paid over the life:

= Monthly payments × 360

= $1,230.81 × 360

= $443,091.5

You might be interested in
What are the set of rules that people need to follow while communicating at the workplace called?
Alex777 [14]
Code of conduct. This is a set of rules that everyone is expected to know and follow to the fullest extent.
7 0
3 years ago
Read 2 more answers
The Jameson Company just paid a dividend of $0.75 per share, and that dividend is expected to grow at a constant rate of 5.50% p
belka [17]

Answer:

Jameson's current stock price, P0 is  $18.62

Explanation:

Required rate of return = Risk free rate + Beta*Market risk premium.

                                       = 4.00% + 1.15*5.00 %

                                       = 9.75 %

Current stock price, P0

= Expected dividend per share/(Required rate of return - Growth in dividends)

= (0.75 + 5.50%*0.75)/(0.0975 - 0.055)

= $18.62

Therefore, Jameson's current stock price, P0 is  $18.62

5 0
3 years ago
Cloud nine, by caryl churchill, and the laramie project, by moises kaufman, are examples of a contemporary trend in which
ruslelena [56]

<u>Answer:</u>

<em>Cloud nine, by caryl churchill, and the laramie project, by moises kaufman, are examples of a contemporary trend in Political Sense.</em>

<u>Explanation:</u>

What is most exceptional about <em>Caryl Churchill's time traveling</em> satire Cloud Nine is that this insightful play about sexual legislative issues and restraint is <em>presently 36 years of age</em>, however it could have been composed for the current year.

Still a <em>difficult sex bowing play,</em> it asks us how far we think we have originated from the Victorians in our <em>dispositions about sex and character.</em>

7 0
3 years ago
In the 1970s, steve reich spent a month playing with and listening to drummers in
Andrew [12]
In Ghana. In the late spring 1970 Steve Reich went to Ghana to think about drumming. With a travel concede from the Special Projects division of the Institute of International Education, he advanced toward Accra keeping in mind the end goal to think about with Gideon Alorworye, the inhabitant ace drummer of the Ghana Dance Ensemble.
5 0
3 years ago
The ____ act criminalized securities fraud and stiffened penalties for corporate fraud.
Arte-miy333 [17]
I believe this is the Sarbanes Oxley act
3 0
3 years ago
Other questions:
  • When Jeff Bezos founded Amazon in 1994, he was laying the foundation for the world’s largest ________, because Amazon uses the I
    9·1 answer
  • You need a 30-year, fixed-rate mortgage to buy a new home for $250,000. Your mortgage bank will lend you the money at an APR of
    9·1 answer
  • A local business woman borrows $14,000.00 at $299.70 per month for 62 months, how much total
    9·1 answer
  • Dilthium batteries is a division of enterprise corporation. The division manufactures and sells a long-time
    13·1 answer
  • A manufacturing company uses 1000 non-returnable special pins a month, which it purchases at a cost of $2 each. The manager has
    15·1 answer
  • Your investment portfolio consists of ​$15 comma 000 invested in only one stocklong dashAmazon. Suppose the​ risk-free rate is 5
    7·1 answer
  • These financial statement items are for Snyder Corporation at year-end, July 31, 2017. Salaries and wages payable $2,580 Salarie
    5·1 answer
  • Misty and John formed the MJ Partnership. Misty contributed $50,000 of cash in exchange for her 50% interest in the partnership
    11·1 answer
  • All of the following are the ways property can be transferred at death, except by: Group of answer choices disclaimer. will. con
    7·1 answer
  • Use the drop-down menus to analyze the writing prompt. Format: Examine a Centers for Disease Control advertising campaign that p
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!