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dsp73
3 years ago
14

Amanda Rice has just arranged to purchase a $640,000 vacation home in the Bahamas with a 20 percent down payment. The mortgage h

as a 7 percent APR compounded monthly and calls for equal monthly payments over the next 30 years. Her first payment will be due one month from now. However, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of Year 8. There were no other transaction costs or finance charges. How much will Amanda’s balloon payment be in eight years
Business
1 answer:
DedPeter [7]3 years ago
7 0

Answer:

$458,197

Explanation:

I prepared an amortization schedule using an excel spreadsheet (which I attached).

purchase price $640,000

down payment $128,000

mortgage principal $512,000

APR 7%

monthly payment $3,406.35

principal's balance at the end of year 8 (month 96) = $458,197

Download pdf
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Compute the Work-in-Process transferred to the finished goods warehouse on April 30 using the following information:
malfutka [58]

Answer:

$1,100

Explanation:

Computation for the Work-in-Process transferred to the finished goods warehouse on April 30

Work-In-Process Inventory, April 1 300

Direct materials used in production 225

Direct labor costs incurred 400

Manufacturing overhead costs 350

Less Work-In-Process Inventory, April 30 ($175)

Work-in-Process transferred to the finished goods warehouse $1,100

Therefore the Work-in-Process transferred to the finished goods warehouse on April 30 will be $1,100

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3 years ago
Which change is illustrated by the shift taking place on this graph?
pantera1 [17]

Answer:

i just took this quiz its B

Explanation:

7 0
3 years ago
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A large increase in the supply of hd-tv sets occurs simultaneously with a smaller decrease in its demand. as a result the equili
zhenek [66]
The answer to this question is :<span>decrease, increase
When Demand decreases, it indicates that consumer now is less willing to buy that certain products.
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7 0
3 years ago
As you get closer to needing the money from an investment, what happens to your risk tolerance
Sedbober [7]

Risk tolerance gets lower and lower as you get closer to needing the money from your investment.

If you don't need the money for 50 years, you are more likely to take risks in the stock market or other higher risk investments in return for higher rewards. If you need the money tomorrow, you will not be willing to risk it all in the stock market because even though it <em>could </em>double, you might lose it all.

8 0
2 years ago
If he wanted the cash award of each of the five prizes to be $45,000 and his estate could earn 7% per year, how much would he ne
Stels [109]

Answer:

The answer is $3,214,285.71

Explanation:

Price of each award is $45,000

And there are 5

Therefore, we have 5 x $45,000

=$225,000.

So, $225,000 is the future value.

Rate of return(r) in 7% and it is being assumed that it is forever.

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=$3,214,285.71

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3 years ago
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