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3 years ago

Find the monthly payments for 250,000 mortgage to pay it off in 15 years if interest rate is 6% compounded monthly g

Business

1 answer:

Kobotan [32]3 years ago

6 0

Answer:

The monthly payments for $250,000 mortgage is $2,109.64.

Explanation:

Mortgage value = $250,000

Period of years = 15

Interest rate = 6% compounded monthly

Using an online calculator,

The remaining balance is $250,000.00. The monthly pay is $2,109.64 for 15 years or 180 months. It will result in interest expense of $129,735.57.

The Original Payoff Schedule

Monthly Pay $2,109.64

Total Payments $379,735.57

Total Interest $129,735.57

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Your Group has just been stranded in the wilderness in the middle of a snowstorm in mid-January. You are dressed for the winter,

Salsk061 [2.6K]

Answer:

You will need:

knife

Lighter

Rope

Map

Warm clothes

4 0

3 years ago

Andrews Co. can purchase 20,000 units of Part XYZ from a supplier for $18 per part. Andrews' per unit manufacturing costs for 20

trapecia [35]

Answer:

The answer is: Continue to make — $60,000 advantage.

Explanation:

We have to compare the current total costs with the total costs of buying the parts from a supplier.

Current costs

total variable manufacturing $240,000
Supervisor's salary $60,000
Depreciation $20,000
<u>Allocated fixed overhead $140,000</u>
Total current cost: $460,000

Costs of buying the parts

total purchase price $360,000
Allocated fixed overhead $140,000
<u>Depreciation $20,000</u>
total costs for buying the parts $520,000

Since buying the parts from a supplier is $60,000 more expensive than continue manufacturing ($520,000 - $460,000), Andrews Co. should continue as it is.

3 0

4 years ago

Lusk Company produces and sells 16,100 units of Product A each month. The selling price of Product A is $31 per unit, and variab

Andrews [41]

Answer:

decrease by $56,600 per month

Explanation:

The impact on the net operating income would be shown below:

In the first case,

Sales ( $31 × 16,100 units) = $499,100

Variable expenses ($25 × 16,100 units) = - $402,500

Fixed expenses = - $111,000

Net loss = - $14,400

And, the fixed cost not avoidable cost is $71,000

So, the net income decreased by

= $71,000 - $14,400

= $56,600

if the product A is discontinued

6 0

4 years ago

The Chart Company has a process costing system. All materials are added when the process is first begun. At the beginning of Sep

Mnenie [13.5K]

Answer:

58,560 units

Explanation:

The computation of the equivalent units of production for the conversion cost is shown below:

We know that,

Ending work in progress inventory = Units started - units completed

6,100 units = 61,000 units - units completed

So, units completed = 61,000 units - 6,100 units = 54,900 units

It is given in the question that 3 ÷ 5 means 60% ending work in progress inventory units is completed,

So completed units = 6,100 × 60% = 3,660 units

So,the equivalent units of production equals to

= Units completed + completed units in ending inventory

= 54,900 units + 3,660 units

= 58,560 units

6 0

4 years ago

In its 20X3 financial statements, Cris Co. reported interest expense of $85,000 in its income statement and cash paid for intere

IgorLugansk [536]

Answer:

The answer is: D) $32,000

Explanation:

In 20x3, Cris. Co. paid in cash $68,000 for interest, including $15,000 of interest from 20x2.

The amount of cash paid for 20x3 interests = $68,000 - $15,000 = $53,000

Interest payable = interest expense 20x3 - cash paid for 20x3 interests

interest payable = $85,000 - $53,000 = $32,000

3 0

3 years ago