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DIA [1.3K]
2 years ago
14

You have decided it’s time to buy a house, and you have found the one you want. The price is $500,000, and you will pay 10% in

cash and will take a mortgage on the balance. The annual interest rate is 8%, the length of the loan is 30 years, and you are making payments at the end of each month. What is the amount of your monthly payment, rounded to the nearest dollar
Business
1 answer:
sp2606 [1]2 years ago
4 0

Based on the amount of the loan, the interest rate, and the loan period, the monthly payment would be <u>$3,302.</u>

<h3>Loan Amount</h3>

<em>= Price of house - Amount in cash </em>

= 500,000 - ( 500,000 x 10%)

= $450,000

<h3>Periodic interest </h3>

= 8% / 12 months

= 8/12%

<h3>Number of periods </h3>

= 30 x 12 months

= 360 months

<h3>Monthly Payment </h3>

This is an annuity as the payment is constant. The loan value will be the present value of the annuity.

<em>Present value of annuity = Annuity x ( 1 - ( 1 + rate) ^ - number of periods) / rate </em>

450,000 = Annuity x ( 1 - ( 1 + 8/12%) ⁻³⁶⁰) / 8/12%

Annuity = 450,000 / 136.283494

= $3,302

In conclusion, monthly payment would be $3,302.

Find out more on loan amounts at brainly.com/question/24576997.

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Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for sync
Oduvanchick [21]

Answer:

a. middle manager.

Explanation:

In this scenario, Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for synching the processes of his plant with the standards set at the company's headquarters. He sends weekly updates of raw material requirements to the purchase division at the headquarters. He also connects the company's human resources department with the employees who work in his plant. In this scenario, Bobby is most likely a middle manager.

A middle manager refers to an individual who acts as an intermediary between the executive management and the employee working with the company.

5 0
3 years ago
Which level of scrutiny must affirmative action policies now meet?
laila [671]
Strict, which is the highest level of scrutiny is the level of scrutiny affirmation action policies must meet. 

There are 3 levels of scrutiny:
1) Strict (highest level)
2) Intermediate (a little less demanding)
3) Rational Basis Review (lowest level)
4 0
3 years ago
List 5 things you have purchased in the last year because of a marketing function. Describe what function of marketing was evide
Marizza181 [45]

Answer:

1- smartphone

2- computer

3- kindle

4- clothes

5- watch

Explanation:

The economy exists due to the human need for products and services.

Marketing is responsible for adapting such products and services to the individual needs of each person, in order to offer value to the customer, meeting their desires and preferences through features, personalization of products and services, benefits, customer service, advertising, communication , etc., for a company to be strategically competitive and improve profits.

Therefore, in relation to the products acquired by me last year, there are 3 technological products (smartphone, computer and kindle) that were acquired through the function of marketing features that satisfy the needs of work, communication and leisure.

The watch and clothes were acquired through the function of advertising marketing and differentiated design, which add value to the customer through the status they create in the consumer's mind.

8 0
3 years ago
In January 2014, the company Quicken Loans made news by announcing that it would pay $1 billion to the person who submitted the
g100num [7]

Answer:

63 games are played.

In the bracket at each stage of the game you have 2 choices.

so total 2^63 ways are there to fill out the bracket.

2^63 = 9,223,372,036,854,775,808 which is approx. 9.2 Quintillion.

Number of people in USA= 317,431,148.

So all possible outcomes of bracket filling to be represented, each person should fill out following number of brackets.

9,223,372,036,854,775,808

= -------------------------------------- = 29,056,291,718.6

317,431,148

which is approximately 29,056,291,719 brackets per person.

Explanation:

6 0
3 years ago
You have just started your first job and are already planning for retirement. You plan on retiring in 31 years. To support your
Studentka2010 [4]

Answer:

$10,883

Explanation:

n = 31 years

Future value (FV) = 1,980,000 (The amount you need in 31 years for retirement)

i/r = 10% (given)

Present value (PV) = 0 (You have just started your job and have not reserved any amounts for retirement)

PMT (Monthly deposit needed) = ?

By using financial calculator, PMT = $10,883

4 0
3 years ago
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