1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gregori [183]
3 years ago
8

The loan officer at 2nd National Bank tells Lana she can afford a monthly payment of $1,900 on her new home loan. Assuming this

is an interest-only loan, and the principal balance is $410,000, what interest rate is Lana getting?
Business
1 answer:
Olegator [25]3 years ago
3 0

Answer:

5.56%

Explanation:

Annual payment = Monthly payment * 12

Annual payment = $1,900 * 12

Annual payment =  $22,800

So, she can afford to pay $22,800 in a year

The interest rate is Lana getting = Annual payment / principal balance

= $22,800 / $410,000

= 0.0556

= 5.56%

You might be interested in
Suppose a farmer in Georgia begins to grow peaches. He uses​ $1,000,000 in savings to purchase​ land, he rents equipment for ​$5
Sidana [21]
Answer :


A. 305,000


B. 370,000
3 0
3 years ago
Pls help me and thank you
Studentka2010 [4]
The answer is C! hope this helped!
6 0
3 years ago
Read 2 more answers
On Amazon, when the customer is ready to make a purchase, the database ____ manages the entire process
UkoKoshka [18]

Answer:

Management system

Explanation:

<u>A database management system which is abbreviated as DBMS, is a system software which is used for creating as well as managing databases.</u> DBMS provides the users and the programmers with systematic way to create, update, retrieve and manage the data.

<u>DBMS makes possible for the end users to read, create, delete and update data in the database.</u> DBMS serves essentially as an interface between database and the end users or application programs and also ensures that the data is consistently organized as well remains accessible easily.

4 0
3 years ago
A product sells for $275 per unit, and its variable costs are 68% of sales. The fixed costs are $345,600. What is the break-even
OleMash [197]

Ratio of contribution margin = ($275 - $187)/$275 = 32%

Break-even point in sales dollars = $345,600/0.32 = $1,080,000.

<h2>What is Break-even point?</h2>

The amount (total sales revenue) or output level (total units produced) at which a business has recouped all variable and fixed costs is known as the break-even point.

  • As a result of Total Cost Equals Total Revenue, there is no profit or loss at break-even.
<h3>How do you determine the break-even point in sales volume?</h3>

Three values must be known in order to calculate a company's breakeven threshold in sales volume:

  • a fixed price: Rent is one example of a cost that is not related to sales volume.
  • varying expenses costs, such as the price of producing the good, that are based on sales volume
  • Price at which the product is sold.

learn more about breakeven point at: <u><em>https://brainly.in/question/31484328?msp_srt_exp=6&referrer=searchResults</em></u>

#SPJ4

7 0
2 years ago
Read 2 more answers
What would you do if you can stop time
Arlecino [84]

Answer:

Tbh if I could stop the time

I would do anything to get the time back to normal since it will probably  be boring doing it yourself with no help if you know what I mean :)

Explanation:

Hoped this helped :)

5 0
3 years ago
Read 2 more answers
Other questions:
  • Social media is which of the following?
    8·2 answers
  • Simon and his managers are discussing the unemployment, inflation, and interest-rate trends that might affect their chain of san
    8·1 answer
  • PLEASE HELP ASAP!!!! CORRECT ANSWERS ONLY PLEASE!!!!
    13·1 answer
  • On March 1, 2018, Beldon Corporation purchased land as a factory site for $65,000. An old building on the property was demolishe
    10·1 answer
  • Goodwill is a. Seldom reported because it is too difficult to measure. b. Generally smaller for small companies and increases in
    7·1 answer
  • You want to be able to withdraw $45,000 each year for 25 years. Your account earns 4% interest. a) How much do you need in your
    9·1 answer
  • 5. Describe two risks involved in banking, and explain how banks can protect against those risks. (2
    15·1 answer
  • Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following ann
    10·1 answer
  • Explain the term <br>tourist ​
    5·2 answers
  • Suppose $20,000 is deposited into an account paying 4.5% interest, compounded annually. How much money is in the account after f
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!