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DENIUS [597]
3 years ago
9

Julie and Barry Spinos purchased a house for $96,400. They made a 25 percent down payment and financed the remaining amount at 5

.50 percent for 30 years. Their monthly payment is $410.66. How much of the first monthly payment is used to reduce the principal?
Business
1 answer:
Alinara [238K]3 years ago
5 0

Answer: $79.30

Explanation:

Cost of the house = $96400

Down payment = 25% × $96400 = $24100

Mortgage = $96400 - $24100 = $72300

Interest = 5.5%

Time = 5 years

Monthly payment.= $410.66

The interest for first payment will be:

= $72300 × 5.5% × 1/12

= $72300 × 0.055 × 0.08333

= $331.36

Therefore, the amount of the first monthly payment is used to reduce the principal will be:

= $410.66 - $331.36

= $79.30

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Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships.
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A Contingent liability is recorded in the books if the loss is probable and the amount can be estimated.

a. The loss is probable and the amount can be estimated:

DR Loss                                           $1,200,000

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CR Contingent Liability                                            $1,000,000

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3 0
3 years ago
Forty-three percent of Americans use social media and other websites to voice their opinions about
rjkz [21]

Answer:

(a) 0.2896 (b) 0.5029 (c)0.5758 (d)In this case they are dependent  because the gender is segregated as social media user or not as asocial media worker. the probability and variable is tied to it

Explanation:

Solution

(a)In a survey of 1,364 people, 395 were females who used social media and 232 did not. of males 232 use social media and 355 did not

To make or develop a probability table, take each group and divide their number by their total for example female that use social media is 395 of a total of 1364

395/1364 =0.2896

The probability that a woman uses social media in the survey is 0.2896

so,

                                  A              B              T

Female                  0.2896       0.2133      0.5029

Male                      0.2368       0.2603     0.4971

Total                      0.5264      0.4736       1.00

(b) To find the probability  of a surveyed person being a female, we divivde the total number of females by the whole number, shown below

686/1364 = 0.5029

(c)Conditional probability is defined using the formula which is shown below:

P(A/B) = P(A∩B)/P(B)-------(1)

Where P(A∩B) is the probability of females that use social media 0.2896 and P(B) is the total female probability which is 0.5029

Now we substitute the values in the equation 1 and calculate the probability as shown below:

P(A/B) = 0.2896/0.5029 =0.5758

the conditional probability that are surveyed person is female and uses social media is 0.5758

(d) In this case they are dependent  because the gender is segregated as social media user or not as asocial media worker. the probability and variable is tied to it

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