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slavikrds [6]
3 years ago
10

A homeowner has a mortgage balance of $149,570.75. If the interest rate on the loan is 9.5% and the monthly payment is $1,303.55

what will be the mortgage balance after the next two payments?
Business
1 answer:
nalin [4]3 years ago
8 0

Answer:

Principal balance at the end of year 2 = 149,330.9079

Explanation:

Loan Amortization: A loan repayment method structured such that a series of equal periodic installments will be paid for certain number of periods to offset both the loan principal amount and the accrued interest.

We will use the following relationships:

Interest paid = Interest rate × loan balance

Principal paid = Monthly installment - Interest paid

Principal balance= loan balance - principal paid

Year 1

Interest paid    =    9.5%/12 × 149,570.75 =   1,184.101          

Principal paid in year 1 = 1,303.55 -  1,184.101  = 119.448

Principal balance =  149,570.75 - 119.448= 149,451.3018

Year 2

Interest paid = interest rate × loan balance in year 1 = 1183.156

Interest paid = 9.5%/12 × 149,451.3018 = 1183.156

Principal paid = 1,303.55 - 1183.156139  = 120.393

Principal balance at the end of year 2= Principal balance in year 1 - Principal paid in  year 2

= 149,451.3018  - 120.393861  = 149330.9079

Principal balance at the end of year 2 = 149,330.90

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The total cost​ (in dollars) of manufacturing x auto body frames is ​C(x)=60,000+400x. ​(A) Find the average cost per unit if 20
Nesterboy [21]

Answer:

a) Average price per unit = 700

b) average marginal cost = -1.5 dollars/frame

c) For 201 frames are produced = $698.5

Explanation:

Given Data:

C(x) = 60000 + 400x

a) Average cost for 200 units:

Total Cost of 200 units will be:

C(200) = 60000 + 400(200)

C(200) = 140,000

Total Cost of 200 units = 140,000

Average price per unit = Total Cost / number of units

Average price per unit = 140,000/200

Average price per unit = 700

b) Marginal Average Cost:

We know that marginal cost = C^{'}(x)

And the average marginal cost = \frac{d}{dx} \frac{C(x)}{x}

So,

= the derivative of (\frac{60,000 + 400(x)}{x})

= the derivative of (\frac{(60,000)}{x} + 400)

= \frac{-60,000}{x^{2} } + 0

So,

average marginal cost = \frac{-60,000}{x^{2} }

at x = 200 units

average marginal cost = \frac{-60,000}{200^{2} }

average marginal cost = -1.5 dollars/frame

c) Average cost per frame if 201 frames are produced:

We already seen in the part b that, the average marginal cost is decreasing by 1.5 dollars /frame. So,

if 201 frames are produced the instead of 200 then the difference is of 1 frame and we discussed that average marginal cost of 1 frame is decreasing at 1.5 dollars per frame.

So,

As we know the average cost from part a = 700 dollars.

Therefore, for 201 item = 700 dollars -1.5 dollars

For 201 frames are produced = $698.5

5 0
3 years ago
Amanda is trying to decide whether to get a job after graduation or to spend another year in school to get her master's degree.
Alenkinab [10]

Answer:

36,000

Explanation:

5 0
3 years ago
Norwood, Inc. purchased a crane at a cost of $80,000. The crane has an estimated residual value of $5,000 and an estimated life
qwelly [4]

Answer:

Book value= $51,875

Explanation:

Giving the following information:

Purchase price= $80,000

Salvage value= $5,000

Useful life= 8 years

<u>First, we need to calculate the annual depreciation under the straight-line method:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (80,000 - 5,000) / 8

Annual depreciation= $9,375

<u>Now, we can determine the book value at the end of 2019:</u>

Book value= purchase price - accumulated depreciation

Book value= 80,000 - (9,375*3)

Book value= $51,875

8 0
2 years ago
Indicate how each of the following transactions affects U.S. exports, imports, and net exports.
Oxana [17]

Answer:

 export               import                net export  

1. increases         unchanged         increases

2. unchanged       increases             decreases

3.  unchanged       increases             decreases

4. unchanged       increases             decreases

5. increases         unchanged         increases

Explanation:

export would comprise of goods and services produced in the US that are been sold to foreign countries

Import would comprise of foreign produced goods and services that are been sold in the US

Net export would increase when export occurs and decrease when import occurs

Net export = exports – imports

When the French historian visits the US museum and the European family visits Disney,  they are enjoying US services, thus export increases and net export increases

The purchase of books from Cambridge in UK, Panasonic camera and the visit to Japan constitutes import. These increases import and reduces net export

7 0
2 years ago
The authorized service center is located in Boston. Because Cookie Creations values serving its customers, it pays the shipping
Alex777 [14]

Answer:

$180

Explanation:

Calculation to determine Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.

Using this formula

Warrant liability=Numbers of mixers sold × Percentage of mixers returned for repair or replacement ×The average cost to ship a mixer

Let plug in the formula

Warrant liability=30 x 10% x $60

Warrant liability=$180

Therefore Cookie Creations’ warranty liability for the shipping costs at December 31, 2020 will be $180

7 0
2 years ago
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