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3 years ago

If tremaine waited until he had $30,000 saved for a down payment, what would his monthly payment be

Business

1 answer:

Yakvenalex [24]3 years ago

6 0

Answer:

The first part of the question is missing, so I looked for a similar question and found this:

Tremaine wants a one bedroom townhouse in a trendy new development downtown; average cost is $145,000. He is preapproved for a 4.38% interest rate on a 30-year fixed mortgage and has saved $15,000 for a down payment.

What will Tremaine’s monthly payment be?
How much total interest will he pay over the course of the mortgage
If Tremaine waited until he had $30,000 saved for a down payment, what will his monthly payment be?

1. Tremaine's loan = $145,000 - $15,000 = $130,000

monthly payment = loan / annuity factor

PV annuity factor, 0.365%, 360 periods = 200.1694

monthly payment = $130,000 / 200.1694 = $649.45

2. total payments = $649.45 x 360 = $233,802

total interests paid = $233,802 - $130,000 = $103,802

3. Tremaine's loan = $145,000 - $30,000 = $115,000

monthly payment = loan / annuity factor

PV annuity factor, 0.365%, 360 periods = 200.1694

monthly payment = $115,000 / 200.1694 = $574.52

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Ulleksa [173]

Answer:

$1.78 million

Explanation:

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3 years ago

During the past five years, the nation of Andolvia began a massive undertaking: teaching farmers how to successfully grow and ha

Nutka1998 [239]

Answer:

The correct answer is (D) Import quotas

Explanation:

Import quotas are part of economic policies imposed by a country to <u>protect domestic industries</u> from foreign competition. For this case, the nation of Andolvia placed a restriction on the supply of peanut products to be imported, as they have subsidized and made efforts for their local young peanut industry to grow and mature.

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3 years ago

Anka Company uses the LIFO inventory costing method for both its tax reporting purposes and its financial reporting purposes. An

katovenus [111]

Answer:

C. LIFO liquidation

Explanation:

Benson Company uses the LIFO inventory costing method for both its tax reporting purposes and its financial reporting purposes. In its footnotes, Benson Company is required to report the amount at which inventories would have been reported under FIFO method.

The difference between these two numbers is commonly referred to as LIFO Reserve.

LIFO reserve represents the difference in ending inventory using LIFO and ending inventory if FIFO were employed instead.

Third option is the correct option.

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3 years ago

Aquilera, Inc., has sales of $19.6 million, total assets of $14.6 million, and total debt of $5.4 million. The profit margin is

Gnom [1K]

Answer:

a. $1,764,000.00

b. 12.08%

c. 19.17%

Explanation:

a. What is the company's net income?

Profit margin = Net income ÷ Sales

Therefore, we have:

9% = Net income ÷ $19,600,000

Net income = $19,600,000 × 9% = $1,764,000.00

Therefore, the net income of Aquilera, Inc. is $1,764,000.00

b. What is the company's Return on Assets (ROA)?

ROA = Net income ÷ Total Assets

ROA = $1,764,000 ÷ $14,600,000 = 0.120821917808219 = 12.08%

Therefore, the ROA of Aquilera, Inc. is 12.08%

c. What is the company's Return on Equity (ROE)?

Total Assets = Total Debt + Total Equity

Therefore,

Total Equity = Total Assets - Total Debt

Total Equity = $14,600,000 - $5,400,000 = $9,200,000

ROE = Net income ÷ Total Equity

ROE = $1,764,000 ÷ $9,200,000 = 0.191739130434783 = 19.17%

Therefore, the ROE of Aquilera, Inc. is 19.17%

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4 years ago

A business has the following items: - Land $1,500,000 - Machinery $30,000 - Cash $10,000 - Loan $500,000 - Owner’s equity? _____

vodomira [7]

Answer:

The owner's equity amounts to $1,040,000

Explanation:

The formula to compute the owner's equity is as:

Owner's equity = Assets - Liabilities

Where

Assets = Land + Machinery + Cash

= $1,500,000 + $30,000 + $10,000

= $1,500,000 + $40,000

= $1,540,000

Liabilities = Loan

= $500,000

Putting the values above in the formula:

= $1,540,000 - $500,000

= $1,040,000

6 0

4 years ago