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Len [333]
4 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]4 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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3 years ago
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4 0
3 years ago
3. This year, Paula and Simon (married filing jointly) estimate that their tax liability will be $200,000. Last year, their tota
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Answer:

When a taxpayer has an underpayment of estimated tax or fall behind on his/her tax prepayment, then he/she is required to pay a penalty on Form 2210. This penalty is called underpayment penalty.

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7 0
4 years ago
Read 2 more answers
You are choosing between these four investments and you want to be​ 95% certain that you do not lose more than 8.00 % on your in
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Answer:

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Explanation:

given data

investments  = 4

investment = 8 %

solution

first of all we get  95% confidence interval that is as

and here  investment returns and standard deviation are attach so

95% confidence interval = Return - 2 × SD to Return + 2 × SD    ................a

so here

we can see here as per table attach

here only Corporate Bonds and T-Bills will have return above 8%    

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