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inna [77]
3 years ago
5

A 30-year $185,000 amortized mortgage loan has a fixed interest rate of 4.375% and fixed monthly payments. The monthly payment i

s $923.68. The beginning balance of the loan in the 30th month is $177,391.93. Calculate the ending balance of the loan at the end of the 30th month after this month's payment.
Business
1 answer:
dangina [55]3 years ago
7 0

Answer:

$177,114.99

Explanation:

The ending balance of the loan at the end of the 30th month after the monthly payment is the beginning balance at the beginning of the month plus the interest for the month minus the monthly payment.

Note that the interest expense for the month increases the loan balance while the monthly payment reduces the balance.

interest expense for 30th month=beginning balance*fixed interest rate/2

interest expense for 30th month=$177,391.93*4.375%/12

interest expense for 30th month=$646.74

monthly payment =$923.68

The ending balance of the loan=$177,391.93+$646.74-$923.68

The ending balance of the loan=$177,114.99

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patriot [66]

Answer: Nepotism

Explanation: Nepotism is an act of granting special privileges to one's friends and family especially during

recruitment or any other opportunity. It entails using one's power to secure juicy opportunities for one's relatives, especially when they are not qualified for such opportunity. Nepotism is also an act of partiality in order to favour one's friends or relative or candidate over others.

The word "nepotism" is an Italian word and it advanced from the Italian word for nephew. It originated in the mid 17th century when popes and other religious leaders were in the habit of displaying favouritism towards their family members at the expenses of others.

Types of nepotism.

• Nepotism at work place or employment nepotism.

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• Organizational nepotism.

3 0
2 years ago
Ellie has been working for an engineering firm and earning an annual salary of $80,000. She decides to open her own engineering
ASHA 777 [7]

Answer and Explanation:

The computations are shown below:

1. For annual implicit cost

= Earning annual salary + earned annual interest

= $80,000 + $500

= $80,500

2. For Annual accounting cost

= Explicit cost

= Direct expenses

= Office rent + rent of equipment + supplies + utilities + salary of a book keeper

= $15,000 + $3,000 + $1,000 + $1,200 + $35,000

= $55,200

3. For economic cost

= Accounting cost + implicit cost

= $55,200 + $80,500

= $135,700

4. For revenue

= Accounting profit + profit

= $55,200 + $50,000

= $105,200

5. For revenue

= Economic cost + profit

= $135,700 + $50,000

= $185,700

8 0
3 years ago
Suppose you own the patent for a new type of bicycle light, hence giving you a monopoly over the industry. If you lower the pric
Anettt [7]

Answer:

The correct option is C (marginal revenue is less than $9)

Explanation:

If the price of a commodity is lowered because you have some kind of monopoly over the industry, this shows that the marginal revenue is lower than the new selling price. This is simply because marginal revenue is that revenue gained when you produce one more unit of a product, and hence there is no way that this value would be greater than the new selling price. You would be selling at a loss if you do so.

3 0
3 years ago
Please help me. I have been stuck on this question. I can't seem to figure it out.
agasfer [191]

Answer:

Explanation:

no

5 0
2 years ago
Marin, Inc. had net sales in 2017 of $1,425,600. At December 31, 2017, before adjusting entries, the balances in selected accoun
patriot [66]

Answer:

$24,562

Explanation:

Dr Bad Debt Expense $24,562

Cr Allowance for Doubtful Accounts

[(0.11×$240,100)- $1,849] $24,562

7 0
2 years ago
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