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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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Oldham Corporation bases its predetermined overhead rate on a variable manufacturing overhead cost of $4.00 per machine-hour and
Rzqust [24]

Answer:

$21.42

Explanation:

The computation of fixed component in the predetermined overhead rate is shown below:-

Fixed component in the predetermined overhead rate = Fixed Overhead ÷ Machine Hours

= $87,822 ÷ 4,100

= $21.42

Therefore for computing the fixed component in the predetermined overhead rate we simply divide the fixed overhead by machine hours.

And all the other information i.e given is not relevant. Hence, ignored it

5 0
3 years ago
Yolanda's Coffee Shop makes a blend that is a mixture of two types of coffee. Type A coffee costs Yolanda $4.25 per pound, and t
vovangra [49]

Answer:

she used type A coffee is 62 pounds

Explanation:

given data

Type A coffee costs = $4.25 per pound

type B coffee costs = $5.60 per pound

this month Yolanda made = 155 pounds

this month total cost = $784.30

to find out

How many pounds of type A coffee did she use

solution

we consider here that this month type A coffee used = x

and type B coffee used = y

so equation will be

x + y = 155       ..................1

and cost equation

4.25 x + 5.60 y = 784.30       ...............2

now from equation 1 we get y

y = 155 - x     .........................3

put this value in equation 2

4.25 x + 5.60 y = 784.3

4.25 x + 5.60 ( 155 - x) = 784.3

solve this equation we get

x = 62

so she used type A coffee is 62 pounds

3 0
3 years ago
Identify each of the following statements about linear programming problems as true or false, and then justify your answer.
nika2105 [10]

Answer and Explanation:

a. The given statement is true as the corner point at the objective function should be feasible solution which is no longer as compared with the value for every adjacent CPF solution as compared with its optimal

b. The given statement is false as the solution can be an edge

c. The given statement is true as it shows the direct relation between the two things

3 0
3 years ago
Why has caricom produced limited improvements in interregional trade??
Kobotan [32]

CARICOM or the <span>Caribbean Community and Common Market solely reason for existence is to promote the economic integration to guarantee the benefits and shared equitably. The mainly cause for CARICOM in producing limited improvements is because majority of the English speaking  country illustrates the division </span><span>deep linguistic in Caribbean </span>

3 0
3 years ago
In January, 2006, Findley Corporation purchased a patent for a new consumer product for $720,000. At the time of purchase, the p
bezimeni [28]

Answer:

b. $360,000.

Explanation:

Data provided in the question

Purchase value of the patent = $720,000

At the time of purchase, the patent life is 15 years

And, the useful life of the patent is 10 years

So, the amortization expense recorded value is

= $720,000 ÷ 10 years × 5 years

= $360,000

The five years is counted from the year 2006 to the year 2011

8 0
3 years ago
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