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Bad White [126]
3 years ago
6

A home mortgage loan closed on July 1 for $165,000 at 4.5% interest amortized over 30 years at $836.03 per month. Using a 360-da

y year, what would the interest portion of the payment be on a payment made August 1
Business
1 answer:
hichkok12 [17]3 years ago
8 0

Answer:

$618.75

Explanation:

It is important to remember that amortized payments include an interest portion and a capital repayment portion towards the principle. In the early payments the interests amounts are usually larger than the portion of the capital repayments. This changes as the years progress towards maturity of the loan

Thus said, interest   portion of the payment be on a payment made August 1 can be calculated as follows :

Annual Interest = $165,000 × 4.5% × 360/360

                           = $7,425

From July 1 to August 1 we have a period of 30 days

Therefore,

Interest accrued = $7,425 × 30/360

                             = $618.75

Conclusion :

The interest portion of the payment  on August 1 is $618.75

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the seller must lower the price by 12.5%

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In order to establish criminal liability of the directors of a corporation:
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a prosecutor must establish that the directors had criminal intent

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In preparing a company's statement of cash flows using the indirect method, the following information is available: Net income $
Svetlanka [38]

Answer:

See below

Explanation:

Net income during the year

$59,000

Adjustments:

Depreciation

$27,000

Changes in current assets and liabilities

Less:

Increase in accounts receivables

($32,000)

Increase in inventories

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2 years ago
The use of teams is becoming increasingly prevalent in the U.S. workplace, partly because of the many benefits associated with t
Sauron [17]

Answer:

Better customer satisfaction

Greater employee job satisfaction

Lower employee turnover

Explanation:

Work teams can be defined as the group of employees that work together to accomplish a certain task or project. These teams are the most effective when expert advises are needed and required to accomplish a project which needs different set of skills. These teams are trained so they can meet the customers needs and wants successfully. They can understand customers well in order to meet their requirements which definitely will make them happy and satisfied and in some cases they can be delighted and over delighted.

When employees will work in work teams, they will interact with different workers having different set of skills, therefore, they can complete the tasks and project quite efficiently, which will ultimately make them satisfied. When employees will be satisfied at the work, they will not think about leaving the organization which in turn will result in lower employees turnover.

7 0
3 years ago
Cullumber Company’s 12/31/21 balance sheet reports assets of $11450000 and liabilities of $4890000. All of Cullumber’s assets’ b
Arturiano [62]

Answer:

$4,392,000

Explanation:

For computing the cost of the goodwill, first we have to calculate the fair value of the net asset which is shown below:

The fair value of net asset = Asset balance + fair value of land  - liabilities balance

= $11,450,000 + $690,000 - $4,890,000

= $7,250,000

And, the acquire value is $11,642,000

So, the goodwill would be  

= $11,642,000 - $7,250,000

= $4,392,000

4 0
3 years ago
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