Answer:
a) $347,760
b) $197,760
c) $199
Explanation:
a)
The Loan is paid by 240 (20 x 12 ) equal installments. These Installments include the principal and interest payment portion. Total payment to be made including interest and principal will be as follow:
Total amount = Installment amount x Numbers of installment = $1,449 x 240 = $347,760
b)
Amount Paid over the principal amount is the cost of interest on the loan
Cost of Interest = $347,760 - $150,000 = $197,760
c)
First payment of $1,449 includes the interest and principal amount. We will separate both as follow
Interest portion = $150,000 x 10% x 1/12 = $1,250
Principal Portion = $1,449 - $1,250 = $199
$199 is applied to principal.
Answer:
38 minutes
Explanation:
Wait time + the travel time = 38 minutes so I think that is the answer
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The issue of fairness underscores the goal of economic equity. Americans want their economic system to be fair and just. The goal of economic freedom is to allow each member of society to make choices, and to be more equal,somebody has to pay more taxes than the others.
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Free enterprise means people can run their business in the way they see fit.
In a free enterprise system, the products and services offered and the prices they are sold at are totally controlled by competition, supply and demand in the market and not controlled by government regulations.