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timurjin [86]
2 years ago
10

A borrower took out a 30-year fixed-rate mortgage of $2,250,000 at a 7.2 percent annual rate. After 10 years, he wishes to pay o

ff the remaining balance. Interest rates have by then fallen to 7 percent. How much must he pay to retire the mortgage (to the nearest dollar)? Group of answer choices $2,015,678 $2,122,426 $1,939,766 $2,225,330 $2,212,041
Business
1 answer:
Nastasia [14]2 years ago
5 0

Answer:

$2,122,426

Explanation:

The computation of the amount that must to pay for the retirement of the mortgage is given below:

But first we have to determine the monthly payment i.e. PMT by using excel function

PV=-$2,250,000

RATE = 7.2% ÷ 12 = 0.6%

N = 12 × 30 = 360

FV = 0

PMT = $15,272.73

Now we have to determine the future value  

Given that

PV=-$2,250,000

RATE = 7.2% ÷ 12 = 0.6%

N = 12  × 5 = 60

PMT = $15,272.73

So,  FV  = $2,122,425.62

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Vanessa is the purchasing manager at General Things, a maker of housewares. She has evaluated the first year's performance of Hu
klemol [59]

Answer: The options are given below:

A. Vanessa should define new performance outcomes that do not include checking order status.

B. Hunter should develop more realistic goals that do not include checking order status.

C. Vanessa and Hunter should set new performance standards that are more realistic.

D. Vanessa should arrange for training so Hunter can learn how to look up the status of orders.

E. Vanessa should provide Hunter with ongoing performance feedback.

The correct option is D. Vanessa should arrange for training so Hunter can learn how to look up the status of orders.

Explanation: From the scenario given above, we can conclude that Hunter is a good purchasing agent, but a bad record keeper, since he finds it difficult to quickly come up with information about orders.

The next reasonable step to take in order to make Hunter perform better would be to arrange a training for Hunter in order to make him a better record keeper, and therefore be able to keep the records on his orders in a way that he will be able to quickly come up with the status of the orders of employees.

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2 years ago
College-age athletes who drop out of college to play professional sports
Helga [31]
Well aware that their opportunity cost of attending college is very high.
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2 years ago
On January 1, 2021, Legion Company sold $260,000 of 8% ten-year bonds. Interest is payable semiannually on June 30 and December
Galina-37 [17]

Answer:

$12,021

Explanation:

Calculation to determine what Legion should report bond interest expense for the six months ended June 30, 2021, in the amount of:

Using this formula

Interest paid =[Bonds amount*(Priced to yield/2)]

Let plug in the formula

Interest paid = $200,356*( 12%/2)

Interest paid=$200,356*6%

Interest paid =$12,021

Therefore Legion should report bond interest expense for the six months ended June 30, 2021, in the amount of:$12,021

3 0
2 years ago
Which of the following is the best description of
olganol [36]

Answer:

D. Changing practices superficially to appear more  environmentally friendly to consumers than they  truly are.

Explanation:

Greenwashing is the act of corporate companies in their attempts to convey a false impression to their customers that their products are environmentally friendly. Through this process, they provide misleading information.

Companies provide misleading information to their customers, in making the impression that their products are more environmentally friendly than other products. Thus, <u>greenwashing can be described as changing the practices of the company/ brand superficially so that they appear more environmentally friendly than they really are to customers</u>.

4 0
2 years ago
Last year Harrington Inc. had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm’s t
posledela

Answer:

Based on the DuPont equation and given information, ROE of Harrington Inc is 13.818%.

Explanation:

We have to find the total equity and total debt of Harrington Inc in order to apply the DuPont equation for finding ROE because net income, sales of Harrington Inc. are already given.

- To find Harrington Inc's total debt, apply the Debt-to-capital formula: The Harrington Inc's total debt/The Harrington Inc's total capital = 45% =>  Harrington Inc's total debt = The Harrington Inc's total capital * 45% = $250,000 x 45% = $112,500;

- To find Harrington Inc's total equity, apply the accounting equation Asset = Liabilities + Owner's Equity: The Harrington Inc's total equity = The Harrington Inc's total asset - The Harrington Inc's total debt = $250,000 - $112,500 = $137,500;

- Using the Dupont equation, calculate the ROE as followed:

(NI/Sales)* (Sales/ Total assets) * (Total assets/ Total common equity) = (19,000/325,000) * ( 325,000/ 250,000) * (250,000/137,500) = 13.818%.

- Thus, the ROE = 13.818%.

5 0
3 years ago
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