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
pochemuha
3 years ago
12

Your real estate agent mentions that homes in your price range require a payment of $1,200 per month for 30 years at 0.75% inter

est per month. What is the size of the mortgage with these terms?
Business
1 answer:
Igoryamba3 years ago
6 0

Answer:

the size of the mortgage with these terms is $149,138.24

Explanation:

The computation of the size of the mortgage is shown below:

Present value of annuity is

=  Monthly payment × {[1 - (1 + rate of interest)^-number of months] ÷ rate of interest}

= $1,200 × {[1 - (1 + 0.0075)^-360] ÷ 0.0075}    

= $1,200 × 124.2819      

= $149,138.24

The 360 is come from

= 30 years × 12 months

= 360 months

hence, the size of the mortgage with these terms is $149,138.24

You might be interested in
Mariott Condominium, located near San Diego, California, plans to renovate its main building. The project will begin April 1, an
Basile [38]

Answer:

7

Explanation:

because

8 0
3 years ago
Judy Olsen, Kristy Johnston, and their mother, Joyce Johnston, owned seventy-eight acres of real estate property on Eagle Creek
Neporo4naja [7]

Yes , Judy and Kristy have an enforceable binding contract

Explanation:

Kristy Johnston, Judy Olsen, and Joyce Johnston, their mother, owned real estate as common buyers. After Joyce died, she left Kristy her one-third share in the house. Kristy sent Judy a letter in 2009 promising Judy to purchase or sell Judy's share in the property.  

Judy accepted the sale bid from Kristy. Kristy then tried to refuse Judy's approval and to cancel her bid for sale. Judy lodged a Kristy lawsuit.

The court granted the summary judgment to Judy finding that a contract had been drawn up between the letters exchanged between Judy and Kristy which satisfied the frauds ' status. The Supreme Court ruled that the district court decided out that an enforceable arrangement was established by exchanging letters from the parties.

4 0
3 years ago
Rosalina has recently been passed over for a promotion. This is the third time it has happened despite excellent performance rev
Brilliant_brown [7]

Answer:

the new York based artist is a good deal of a new kind and you will be the best way you have to be the best thing you need for the people

7 0
3 years ago
Which of the following describes what the Fed would do to pursue an expansionary monetary​ policy? A. use discount policy to rai
koban [17]

Answer:

Option (B) is correct.

Explanation:

Open market operations is a monetary policy instrument that is used by the Federal reserve for controlling the money supply in an economy. If there is a need to decrease the money supply in an economy then fed sells the government securities to the public and on the other hand if there is a need to increase the money supply in an economy then fed purchases the government securities from the public.

So, here the expansionary policy is to purchases the treasury bills from the public.

7 0
3 years ago
What are the relationship between management and motivation
Lina20 [59]
Hello there,

The difference between \boxed{management} and \boxed{motivation} is that the word management means to manage something carefully and good. And the word motivation is to motivate someone to do something weather good or bad.

~Jurgen
4 0
3 years ago
Other questions:
  • In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are priva
    10·1 answer
  • The economy, as a system, represents the
    14·1 answer
  • Francis Equipment Co. closes its books regularly on December 31, but at the end of 2017 it held its cash book open so that a mor
    15·1 answer
  • Maurice can drive or fly from Jacksonville, Florida to Atlanda, Georgia, for a one-day business trip. If he drives, he will be a
    13·1 answer
  • Which type of business is most likely to use the bricks-and-clicks business model?
    15·2 answers
  • At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end ofthe year,
    13·1 answer
  • In a job order costing​ system, a credit to Finished Goods Inventory will be accompanied by a debit to A. WorkminusinminusProces
    15·1 answer
  • Wiley's has total equity of $679,400, long-term debt of $316,900, net working capital of $31,600, and total assets of $1,123,900
    11·1 answer
  • John, 25, just started contributing to his employer's 401(k) plan and started an ira account. he is choosing to invest only in b
    9·1 answer
  • John is a boss who is very stern with his employees, and they follow every command he gives to them. John is someone who exempli
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!