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frez [133]
3 years ago
13

George secured an adjustable-rate mortgage (ARM) loan to help finance the purchase of his home 5 years ago. The amount of the lo

an was $350,000 for a term of 30 years, with interest at the rate of 9%/year compounded monthly. Currently, the interest rate for his ARM is 3.5%/year compounded monthly, and George's monthly payments are due to be reset. What will be the new monthly payment
Business
1 answer:
Minchanka [31]3 years ago
4 0

Answer:

$1,680

Explanation:

during the first 5 years, the monthly payment will = $2,816.18

I prepared an amortization schedule. After the 60th payment, the principal owed = $335,580

the new monthly payment considering that the interest rate fell significantly to 3.5% = $1,680

calculation to determine the monthly payment:

present value of the loan = monthly payment x PVIFA

monthly payment = present value / PVIFA

PVIFA, 0.29167%, 300 periods = 199.7501

monthly payment = $335,580 / 199.7501 = $1,680

Download pdf
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8. Unemployment insurance contributes to structural unemployment by: A. keeping wages above the market-clearing level. B. keepin
Luda [366]

Answer:

The correct answer is  C. allowing unemployed workers to search longer or less intensively for jobs

Explanation:

4 0
3 years ago
Folsom Fashions sells a line of women's dresses. Folsom's performance report for November Year 1 follows.Actual : Dresses Sold:
ElenaW [278]

Answer:

(B) $5,000 favorable.

Explanation:

Variable cost flexible budget variance:

budget for 6,000 units total variable cost: $180,000

We divide the total cost by the activity in that budget:

$180,000/ 6,000 = 30

Now we multiply by the actual volume:

5,000 x 30 = 150,000

Now we do flexible budget - actual cost = variance

150,000 - 145,000 = 5,000 favorable

It is favorable, as the cost where less than expected.

4 0
3 years ago
What are three common types of federal taxes?
anastassius [24]

three common types of federal taxes are :

1. income tax

2. Property tax

3.Sales tax

5 0
3 years ago
The ability to automatically detect the occurrence of an abnormality, thereby helping achieve quality at the source, is?
Sever21 [200]

 The ability to automatically detect the occurrence of an abnormality, thereby helping achieve quality at the source, is jidoka

Therefore, Jidoka's definition is best understood as "automation". This means manual automation or autonomous automation. The origin of Jidoka can be traced back to Toyota Motor Corporation, which was founded by Sakichi Toyoda as a textile manufacturer.

A famous example of Jidoka is his Model G for Toyoda Automatic Loom, invented and patented in 1925 by Sakichi Toyoda (1867–1930). This is one of the many looms invented by this inventor, but perhaps his most famous. This loom could be operated almost unmanned. Jul 31, 2018

Automation is a commonly used term in Lean Manufacturing, widely considered one of the pillars of the Toyota Production System, the other being Just in Time (JIT). The term "Jidoka" is often used to impress others, but the idea behind it is less common outside of Toyota.

Learn more about jidoka here

brainly.com/question/162683

#SPJ4

3 0
1 year ago
Henry Carr and Noreen Mason formed a partnership, dividing income as follows: annual salary allowance to Carr of $42,000; intere
Evgesh-ka [11]

Answer:

$239,060

Explanation:

The computation of the net income distributed to Carr as follows;

<u> Particulars     Carr      Mason      net income distributed   Non-allocated </u>

Net income                                                                              $442,000

Salary

allowance     $42,000                  $42,000                            $400,000

Interest

on capital     $4,410   $10,290      $14,700                            $385,300

left amount  $192,650 $192,650  $385,300                        $0

Net income  $239,060

8 0
3 years ago
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