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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

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A 15-year 3 1/4% Treasury Bond is quoted at 100-12 - 100-16. The bond pays interest on Jan 1st and Jul 1st. A customer sells 5M
trasher [3.6K]

Answer:

The multiple choices are:

$5,006.00

B $5,018.75

C $5,025.00

D $5,028.75

The correct option is B,$5018.75

Explanation:

The key to unlock this question is to know that government securities are usually quoted in 1/32 nds ,which means that in calculating the price  the number after 100 is is multiplied by 1/32.

1M means 1000,while 5M means 5000

The price of 5M=5000*(100+12*1/32)%

The price of 5M=5000*(100+0.375 )%

The price of 5M=$5018.75

In this case the bid price which is lower is used when selling securities to the dealer

4 0
3 years ago
A Louisiana lease must be in writing to be valid: Select one: A. If the lease is for more than one year B. If the lease is for i
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A Louisiana lease must be in writing to be valid at no time since written leases are not required in Louisiana. This is further explained below.

<h3>What is a lease?</h3>

Generally, lease is simply defined as a contract wherein one party transfers land, property, services, etc. to another for a defined length of time, often in exchange for monthly payments.

In conclusion, Since written leases are not needed in Louisiana, a verbal lease in Louisiana is legal at any time.

Read more about lease

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3 0
2 years ago
16 Type the correct answer in the box. Spell all words correctly. Identify the kind of control decision involved in the given sc
Triss [41]

Answer:

its customer service!

Explanation:

5 0
3 years ago
When presenting solutions, Chris (a salesperson)often has to handle buyer resistance. Chris should think of buyer resistance as
Vadim26 [7]

Answer:

C) Positive

Explanation:

Although in the question it is stated that Chris, who is a salesman, manages the buyer resistance while presenting the solutions, the Chris also thinks that buyer resistance is a positive event

Thus, in the provided scenario, option c is right, as it does not satisfy all other options available

So the right option is c.postive

4 0
3 years ago
Big Dom’s Pawn Shop charges an interest rate of 27.4 percent per month on loans to its customers. Like all lenders, Big Dom must
Makovka662 [10]

Answer:

Annual percentage rate: 328.8%

effective rate: 1728%

Explanation:

APR: Annual Percentage Rate

as the month is monthly we must multiply by 12 to convert into annual

27.4 x 12 = 328.8%

<u>The effective rate will have into consideration the compounding effect:</u>

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3 0
2 years ago
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