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Dima020 [189]
3 years ago
7

You want to take out a $125,000 mortgage. The interest rate on the mortgage is 5%, and the loan is for 30 years. How much will y

our monthly payments be
Business
1 answer:
Alex787 [66]3 years ago
4 0

Answer: $671.03

Explanation:

The monthly payment will be an annuity because it will be constant. The loan amount will be the present value of the loan.

Periodic interest rate of loan = 5%/12 = 5/12%

Loan period = 30 * 12 months = 360 months

Present value of annuity = Annuity *  ( 1 - ( 1 + rate) ^ -number of periods) / rate

125,000 = Annuity * ( 1 - ( 1 + 5/12%)⁻³⁶⁰) / 5/12%

125,000 = Annuity * 186.2816170

Annuity = 125,000 / 186.2816170

= $671.03

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Which person(s) should decide upon the problem statement the team will be working toward? The team’s leader
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8 0
3 years ago
Penny is paid a gross wage of $2,648.00 on a monthly basis. She is single and is entitled to 2 withholding allowances. How much
Damm [24]

Answer:

The combined wage bracket tables in Exhibits 9-3 and 9-4 is missing hence I will use 2014 tax year

answer :

a) Federal income tax withheld

 = 75.6 + ( 1989.60 - 944 )*15%  = $232.44

b) social security

 6% * 1989.6 = $119.38

c) Medicare

1.45% * 1989.6 = $28.85

Explanation:

For a single individual

Two withholding allowance = $329.20 * 2  = $658.40

Gross Pay = $2648

withholding allowance = $658.40

Subject to withholding = $2648 - $658.40 = $1989.60

a) Federal income tax withheld

 = 75.6 + ( 1989.60 - 944 )*15%  = $232.44

b) social security

 6% * 1989.6 = $119.38

c) Medicare

1.45% * 1989.6 = $28.85

6 0
3 years ago
The developing economies' share of the global gross domestic product (GDP) from 2003 to 2017 is shown in the following table.
shepuryov [24]
The quadratic function that best models the developing economies' share of the global GDP as a function of the number of years
3 0
3 years ago
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 13,
Anit [1.1K]

Answer:

Incremental income for Sale as scrap  is $36,400 and Rework is $46,200

Explanation:

                                                              Sale as scrap         Rework

Sales of reworked units (13000*8.2)                                  $106,000

Sales of scrap units (13000*2.8)            $36,400

Cost to rework units (13000*4.6)                                         ($59,800)

Opportunity cost of not making new units

Incremental income (loss)                      $36,400              $46,200

6 0
3 years ago
Radoski Corporation's bonds make an annual coupon interest payment of 7.35% every year. The bonds have a par value of $1,000, a
mylen [45]

Answer:

The answer is 2.71 percent

Explanation:

The interest payment is annually.

N(Number of periods) = 12 years

I/Y(Yield to maturity) = ?

PV(present value or market price) = $1,470

PMT( coupon payment) = $73.5 ( [7.35 percent x $1,000)

FV( Future value or par value) = $1,000.

We are using a Financial calculator for this.

N= 12; PV = -1470 ; PMT = 73.5; FV= $1,000; CPT I/Y= 2.71

Therefore, the Yield-to-maturity of the bond annually is 2.71 percent

7 0
3 years ago
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