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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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Introduction of checks into the payments system reduced the costs of exchanging goods and services. Another advantage of checks
sweet-ann [11.9K]

Answer:

they provide convenient receipts for purchases

Explanation:

Checks payment is a form of paying bills. They were created to allow people to make payments without carrying large amounts of cash hence convenient for purchases.They are also  are safer than other forms of payment as they are traceable; when a transaction occurs and payment is made by checks, banks usually make copies of each check and the owner remains with an underlying copy from the check book.  

6 0
3 years ago
On January 3, 2019, Carey discovers his diamond bracelet has been stolen. The bracelet had a fair market value and adjusted basi
Mama L [17]

Answer: $1,900

Explanation:

Theft loss deduction is calculated by adjusting the fair market value of the asset for a theft loss floor limitation of $100 and 10% of the person's AGI.

Theft loss deduction is:

= Fair value -Theft floor limitation - 10% of AGI

= 7,000 - 100 - (10% * 50,000)

= $1,900

3 0
3 years ago
Year P (bikinis) Q (bikinis) P (Speedos) Q (Speedos)
mojhsa [17]

Answer:

$2,950

Explanation:

assuming that year 2000 is the base year:

real GDP for 2003 = (bikini price 2000 x bikini quantity 2003) + (speedos price 2000 x speedos quantity 2003) = ($75 x 30) + ($50 x 14) = $2,950

base year's prices become the real prices of the economy, and any change in real GDP is given by changes in output

4 0
3 years ago
If a firm decides it is in the best interest to collaborate on a development project, how would you recommend the firm choose a
Ahat [919]

Answer:

We live in a related world more so now than any time in recent memory before.In this scenery no business can have all the assets to take an interest completely in the worldwide commercial center without key unions, coordinated efforts and organizations.  

Effective endeavors are continually searching for assets to ceaselessly enhance their ebb and flow tasks and have the accepted procedures to stay ahead in the race.  

Joint effort is a vehicle to supplement the assets of an association and addition abilities to meet certain all around characterized targets. The substance might be deficient with regards to specific assets like money related quality, aptitudes and deliberately it might not have any desire to put resources into their zones of "shortcoming" for some an explanation.  

The firm might need to investigate for an imminent accomplice from its realized business system to begin with. Business and informal communities can furnish leads by taking part in conversations with them. Different zones for prospecting could be from the databases of mechanical improvement offices. Tried and true outsider specialist co-ops - offices right now be locked in to discover reasonable possibilities.  

By the day's end, organizations are about connections. Common regard for one another and shared qualities are important to have an effective organization to meet every others key business targets through such a joint effort. Essentially each ought to be expertly dedicated to such a dare to guarantee goals are met in soul and word.  

The Collaboration ought to be reported in an itemized way that would show the particular jobs of the separate gatherings.  

The manual should record governing rules for taking an interest accomplices to assume out their jobs genuinely.  

Key audit gatherings, choices on money related expenses must incorporate the state of both the substances in a reasonable way.  

Occasional outsider reviews of tasks ought to be a fundamental part of the manual.

3 0
3 years ago
Firm A produces desks. It is situated in the US but imports wood from Brazil. Last year it imported $8,000 in lumber and sold 10
Veronika [31]

Answer:

The correct answer is C: 48000

Explanation:

The Expenditure Approach is a method of measuring GDP by calculating all spending throughout the economy including consumer consumption, investing, government spending, and net exports. This method calculates what a country produces, assuming that the finished goods and services of a country equals the amount spent in the country for that period.

<u>The formula is: </u>

GDP=C+I+G+/-NX

GDP: Gross Domestic Product

(C) consumer spending – this is the amount that all consumers spend on goods and services for personal use.

(I) investment – this is the amount that businesses or owners spend to invest in new equipment or expansions.

(G) government spending – this includes spending on new infrastructure like bridges and roads.

(NX) net exports – this includes spending on a country’s exports minus its spending on imports.

AddedGDP= 56000-8000

AddedGDP= 48000

6 0
2 years ago
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