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Len [333]
3 years ago
6

A current loan balance is $118,000 on a 30-year loan at 7% interest, with a monthly payment of $831.63 for principal and interes

t. How much of the next payment will apply to principal reduction?
Business
1 answer:
shusha [124]3 years ago
6 0

Answer:

$143.30

Explanation:

In order to determine the principal reduction payment, the monthly interest will need to be calculated. The interest will then be deducted from the total monthly payment to compute the principal reduction payment:

Annual Interest           = $118,000 X 7/100

                                   = $8,260

Monthly interest         = $8,260/12

                                   = $688.33

Principal reduction    =  $831.63 - $688.33

                                   = $143.30

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If many firms enter the computer software industry and consequently bid up the price of programmers, then:
Lena [83]

Answer:

the correct option is C) If many firms enter the computer software industry and consequently bid up the price of programmers, then: the long-run industry supply curve will slope downward.

Explanation:

When many firm enter an industry, there is competition and the presence of multiple players will eventually cause the cost of production to decline.

In the short run,  if many firms enter the computer software industry and consequently bid up the price of programmers, then the increase in participation will increase the number of software developed.

In the long run, industry supply curve will slop downwards indicating a price reduction.

4 0
3 years ago
What type of promise to pay does a promissory note represent?
Sonja [21]
I’m not I’m sorry need points
3 0
2 years ago
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A copy machine cost when new and has accumulated depreciation of . Suppose discards this machine and receives nothing. What is t
Anna [14]

Answer:

$1,000 loss

Explanation:

The numbers are missing here, so I looked for a similar question:

A copy machine cost $5,000 when new and has accumulated depreciation of $4,000.

The carrying value of the copy machine = purchase cost - accumulated depreciation = $5,000 - $4,000 = $1,000

if the copy machine is discarded and doesn't get any money for it, this will result in a loss equal to the carrying value = $1,000

7 0
3 years ago
When the unemployment rate is at a steady state: Group of answer choices the number of people finding jobs exceeds the number of
liraira [26]

Answer:

The number of people finding jobs equals the number of people losing jobs.

Explanation:

Unemployment rate can be defined as the percentage of unemployed workers that are present in the the labor force. The Labor force of a country comprises of both employed and unemployed individuals that are present in the country. Unemployment rate can also be described as the percentage of the total workforce of a country that is yet to be gainfully employed.

High unemployment rate poses an adverse effect on the economy, it leads to an increase in crime rate this is due to the fact that unemployed individuals have no source of income to take care of their respective families and as such have to turn to the life of crime inorder to earn money.

7 0
3 years ago
actionow and becca enter into an oral contract in which becca agrees to work on a project for actionow’s living opportunities ce
JulsSmile [24]

Based on the fact that ActioNOW and Becca entered into an oral contract where Becca agrees to work on a project for ActioNOW for eighteen months, the enforcers of this contract are d. none of the choices.

<h3>Who can enforce this contract?</h3>

This transaction between Becca and ActioNOW was an oral contract which means that it falls under the Statute of Frauds. However, for an oral contract to be enforceable under this Statute, the goods or services exchanged have to be less then $500 in value.

The services or goods also have to be less than 1 year in duration. Because Becca and ActioNow agreed for a contract of 18 months which is more than a year, this contract is not enforceable under the Statute of Frauds and so the government cannot enforce this contract.

Options include:

  • a. ActioNOW.
  • b. Becca.
  • c. any third party, such as ActioNOW’s clients.
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Find out more on the Statute of Frauds at brainly.com/question/14854791

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8 0
1 year ago
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