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
inn [45]
3 years ago
14

Suppose that 10 years ago you bought a home for $110,000, paying 10% as a down payment, and financing the rest at 8% interest fo

r 30 years. Your existing mortgage (the one you got 10 years ago) How much money did you pay as your down payment?
Business
1 answer:
skad [1K]3 years ago
3 0

Answer: $11,000

Explanation:

The solution to this problem is not tedious or complicated

Solution;

Amount is = $110,000

Percentage of down payment is given as = 10%

To get the amount of the down payments we find the 10% of $110,00

10% of $110,000 is = 10÷100

=0.1

We multiply it by the amount which is 0.1×110,000= $ 11,000

You might be interested in
How would you pay taxes on a earned income?
nasty-shy [4]
You must pay two types of taxes on earned income: Social Security/Medicare taxes (called FICA, OASDI, or payroll taxes) and income taxes. The payroll taxes that are withheld from your paycheck have two components.
3 0
3 years ago
Rally Quadcopters plans to sell a standard quadcopter (toy drone) for $45 and a deluxe quadcopter for $65. Rally purchases the s
Andrew [12]

Answer:

Rally must sell 1,080 units of Standard and 720 units of Deluxe

Explanation:

                                                  Standard       Deluxe        Total

Sales price per unit                      $45                $65

Less: Variable cost                      ($35)              ($45)

Contribution Margin per  unit       $10                $20

Sales Mix units  (A)                        $3                  $2                $5

Contribution margin                      $30                $40             $70

Weighted average Contribution                                              $14    

per unit C= B/A

Appointment of fixed cost between standard and deluxe

Total Fixed cost = 14,700

Break even point = Fixed cost / Weighted average Contribution  per unit

= 14,700 / 14

= 1,050

Apportionment of Break even point sales between Standard and deluxe in sales mix ratio (3:2)

Standard = 1,050 * 3/5 = 630

Deluxe = 1,050 * 2/3 = 420

Unit to be sold to get desired profit = Fixed cost + Desired profit / Weighted average Contribution per unit

= (14,700 + 10,500) / 14

= 1,800

Apportionment of Units to be sold to get desired profit between Standard and Deluxe in sales mix ratio (3:2)

Standard = 1,800 * 3/5 = 1,080

Deluxe = 1,800 * 2/5 = 720

To reach target operating income, Rally must sell 1,080 units of Standard and 720 units of Deluxe

4 0
3 years ago
The original price of a television is $500 you have a coupon for 25% off excluding tax what is the cost of the tv
ch4aika [34]
Original price = $500

Assume that the tax rate is 8%
Cost of the TV plus tax = 500*1.08 = $540
Worth of the 25% coupon = 0.25*540 = $135
Reduced price = 540 - 135 = $405

The cost of the TV with a coupon for 25% off excluding tax is $405.

Answer: $405

6 0
2 years ago
How do businesses help a country's economy
Marianna [84]
It provides the added necessities we need.
7 0
2 years ago
Read 2 more answers
Bonnie's employer provides her with an annual dinner club membership costing $5,000. Her marginal tax rate is 24 percent. Her em
Nikolay [14]

Answer:

$3,800

Explanation:

The computation of the after-tax benefit is shown below:

= Annual dinner club membership cost - annual dinner club membership cost × her marginal tax rate

= $5,000 - $5,000 × 24%

= $5,000 - $1,200

= $3,800

We simply deduct her tax expense from the annual dinner club membership cost so that the accurate amount can come.

All other information which is given is not relevant. Hence, ignored it

8 0
3 years ago
Other questions:
  • Which of the below statements is inaccurate?
    5·1 answer
  • Kiera’s dog walking business is booming, and she is interested in expanding. In order to expand, her company needs more customer
    12·1 answer
  • On May 9, 2013, Calvin acquired 250 shares of stock in Aero Corporation, a new startup company, for $68,750. Calvin acquired the
    7·1 answer
  • Producers believe the economy is headed for a recession, so they reduce their purchases of machinery and equipment.
    12·1 answer
  • Barter requires that you know the market value of all the goods and services that you want and have to offer. are a member of an
    8·2 answers
  • Kodak's film business didn't lose out to direct competitor Fujifilm; it lost out to Sony, Canon, and other digital camera makers
    15·1 answer
  • Is this picture showing pathos, ethos, or logos? explain why.
    8·2 answers
  • Which of the following is the most common traits of entrepreneurs? A. Passionate B. Risk-taker C. Independence D. Self-assured
    10·1 answer
  • When the direct write-off method is used, an entry for bad debt expense is required Multiple choice question. when each sale is
    12·1 answer
  • Galatea Foods was founded in Greece by Galatea Chronos in 1978, and the company spread rapidly through Western Europe. Ms. Chron
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!