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Montano1993 [528]
2 years ago
6

4. You want to take out a fully-amortizing 30-year mortgage. You can afford monthly payments of $600 each. The interest rate is

9%. How much money can you borrow?
Business
1 answer:
iragen [17]2 years ago
3 0

Answer: $74569

Explanation:

Based on the information given in the question, the amount that can be borrowed is explained below:

Present value of annuity will e calculated as:

= 600 × [1-(1+0.09/12)^-(12 ×30)] / (0.09/12)

= 600 × [1-(1+0.0075)^-(360)] / 0.0075

= 600 × 1-(1.0075)^-(360)] / 0.0075

= 600 × [1-0.0678860074] / 0.0075

= 600 × 124.282

= 74569

The amount that can be borrowed is $74569

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On October 1, 2014, Mann Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life
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Answer:

The correct answer is A.

Explanation:

Giving the following information:

On October 1, 2014, Mann Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life and $20,000 salvage value at the end of its useful life.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= 60,000/5=12,000

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Public saving is negative when:A. there is a government budget surplus.B. there is a government budget deficit.C. the government
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Answer: Option (B) is correct.

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3 years ago
Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal places.)
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7 0
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Zigmanuir [339]

Answer:

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