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Svet_ta [14]
2 years ago
15

You plan to purchase a $340,000 house using either a 25-year mortgage obtained from your local savings bank with a rate of 8.10

percent, or a 10-year mortgage with a rate of 7.10 percent. You will make a down payment of 20 percent of the purchase price.
a. Calculate the amount of interest and, separately, principal paid on each mortgage. What is the difference in interest paid?
b. Calculate your monthly payments on the two mortgages. What is the difference in the monthly payment on the two mortgages?
Business
1 answer:
larisa [96]2 years ago
5 0

Answer:

a. Interest under 10 year mortgage = CUMIPMT(7.1%/12, 10*12, 340000*80%, 1, 10*12, 0)

Interest under 10 year mortgage = 108662.44

Interest under 25 year mortgage = CUMIPMT(8.1%/12, 10*12, 340000*80%, 1, 25*12, 0)

Interest under 25 year mortgage = 363217.16

Difference in interest = 363217.16 - 108662.44

Difference in interest = 254554.72

b. Monthly payment under 10 year = PMT(7.1%/12, 10*12, 340000*80%)

Monthly payment under 10 year = 3172.19

Monthly payment under 25 year = PMT(8.1%/12, 25*12, 340000*80%)

Monthly payment under 25 year = 2117.39

Difference in the monthly payment = 3172.19 - 2117.39

Difference in the monthly payment = 1054.80

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In the competitive sports drink market, Gatorade pays very close attention to the activities of Powerade, a major __________ com
cricket20 [7]

Answer:

c. Brand competitor

Explanation:

Brand competitor -

It refers to the fued or competitive situation between any two companies or organization , producing similar types of goods and services , is referred to as brand competition.

Since , both the companies are always targeting each other .

Both the companies tries to adapt new and innovative method for their goods and services , in order to have better hand on the product .

Hence , from the given scenario of the question ,

The correct option is c. Brand competitor .

7 0
3 years ago
Quince Holman Corporation reports: Cash provided by operating activities $250,000 Cash used by investing activities 110,000 Cash
mash [69]

Answer:

Holman's ending cash balance is $350,000.

Explanation:

The Ending Cash Balance can be obtained by Preparing a Cash Flow Statement as follows :

<u>Quince Holman Corporation </u>

<u>Cash Flow Statement</u>

Net Cash from Operating Activities                                        $250,000

Net Cash from Investing Activities                                          ($110,000)

Net Cash from Financing  Activities                                        $140,000

Movement during the Year                                                     $280,000

Cash and Cash Equivalents at the Beginning of the year      $70,000

Cash and Cash Equivalents at the End of the year               $350,000

Conclusion :

Holman's ending cash balance is $350,000.

5 0
3 years ago
Dab Corporation was organized on January 1, Year 1. During Year 1, Dab had the following transactions relating to shareholders'
lisov135 [29]

Answer:

The total shareholders’ equity at the end of Year 1 is $487,400

Explanation:

The computation of the ending total shareholders’ equity is shown below:

= Common stock value in exchange of cash + net income + net holding gains - dividend paid

= $442,400 + $98,000 + $1,000 - $54,000

= $487,400

While calculating the ending balance of shareholder equity we added the net income, net holding gains and deducted the dividend paid to the common stock value amount

6 0
3 years ago
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs t
erastovalidia [21]

Answer:

Balance for the Factory Overhead account: 19,000 credit

Explanation:

We will first, calculate the overhead rate based on the predetermination overhead rate:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

The total manufacturing cost will be distributed over the cost driver. In this case, labor cost:

360,000/180,000 = 2 overhead rate

Then, we calculate the applied overhead 203,000 x 2 = 406,000

Now, the balance for factory overhead account:

Actual overhead: 387,000 debit

        payable, accumulated depreicaiton and other 387,000 credit

WIP 406,000 debit

Applied Overhead 406,000 credit

Balance:

406,000 - 387,000 = 19,000 credit

8 0
3 years ago
Marketing ________ sports involves the strategic marketing efforts of companies in which they partner with a sports entity for s
melamori03 [73]

'Marketing through sports involves the strategic marketing efforts of companies in which they partner with a sports entity for some commercial benefit.

Marketing strategy is the process that enables a company to focus its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.

Marketing activities are the resources companies spend to promote their products and services. Through marketing activities, businesses can generate demand and interest in their products and increase awareness among potential customers.

marketing strategy helps you discover areas that will be impacted by business growth, thereby helping you create organizational plans that address customer needs. It helps organizations appropriately price their goods and services based on information gathered through market research.

Learn more about Marketing strategy brainly.com/question/25640993

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6 0
2 years ago
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