answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
allochka39001
2 months ago
13

his morning, you borrowed $150,000 to buy a house. The mortgage rate is 7.35 percent. The loan is to be repaid in equal monthly

payments over 20 years. The first payment is due one month from today. How much of the second payment applies to the principal balance? (Assume that each month is equal to 1/12 of a year.)
Business
1 answer:
soldi70 [3.6K]2 months ago
5 0

Answer: 277.61 - option B

Explanation: A loan of $150,000 was taken.

It is a 20-year mortgage with an interest rate of 7.35 percent. Begin by dividing 0.0735 by 12 to obtain a monthly interest rate of 0.0061. Then, add 1 to 0.0061, resulting in 1.0061. The loan comprises 240 monthly payments since 20 years multiplied by 12 months gives that total. Raise 1.0061 to the power of -240 to yield 0.2323. Subsequently, subtract that from 1, giving you 0.7676. Finally, divide 0.0061 by 0.7676 to arrive at 0.007947, which when multiplied by $150,000 results in a monthly payment of $1192.

For the second payment, use 11 months instead of 12.

This results in: 277.61

You might be interested in
Julie is a sales associate for ABC Realty. She sold a house that was listed in the MLS from XYZ REALTORS®. The list price was $3
harina [3808]

Response:

Julie obtuvo $5,087.25 en comisión por esta venta.

Clarificación:

Precio de venta del inmueble = Precio listado * Porcentaje de venta = $340,000 * 95% = $323,000

La comisión sobre las ventas del inmueble = Precio de venta * Tasa de comisión = $323,000 * 7% = $22,610

Monto de la comisión para el corredor de Julie = Comisión sobre la venta * Porcentaje de la comisión destinado al corredor de Julie = $22,610 * 45% = $10,174.50

Dado que Julie y su corredor dividen la comisión de manera equitativa, tenemos:

La comisión ganada por Julie en la venta de la propiedad = Monto de la comisión para el corredor de Julie / 2 = $10,174.50 / 2 = $5,087.25

Por lo tanto, Julie ganó $5,087.25 en esta venta.

4 0
1 month ago
Which of the following statements is true of the sources of competitive advantage?
arsen [3447]

Answer:

Which one of the following statements about competitive advantage sources is true?

It is feasible to enhance both quality and speed.

Explanation:

Enhancing quality while simultaneously increasing speed is achievable; competitive advantage leads to improvements in quality due to competition from other entities, as well as a faster pace to surpass rivals.

3 0
3 months ago
What happens if Jeff refuses to pay the equilibrium wage for coffee shop employees?
stepan [3596]
If employees report him for fraud, he could face legal repercussions.
4 0
1 month ago
Read 2 more answers
David N. gets $3 per week as an allowance to spend any way he pleases. Because he likes only peanut butter and jelly sandwiches,
Nady [3600]

Response:

The answer to the question is provided below.

Analysis:

(a) What quantities of peanut butter and jelly will David purchase with his $3 weekly allowance?

It is stated that David prefers 2 ounces of peanut butter for each ounce of jelly, thus

2Pb = J, and the budget constraint can be expressed as 0.05Pb + 0.1J = 3.

Using substitution,

David will acquire Pb = 30 ounces, J = 15 ounces.

30(0.05) + 15(0.10) = 3

(b) If the cost of jelly rises to $0.15 per ounce, what quantities of each item would he purchase?

If pj = $0.15,

24(0.05) + 12(0.15) = 3

Using substitution, we find J = 12 ounces, Pb = 24 ounces.

4 0
2 months ago
On January 1, 2019, Fitbit goes public and issues 50 million shares at $20 per share. Fitbit had 200 million shares prior to goi
soldi70 [3635]

Answer:

$600 million

Explanation:

On January 1, 2020, the balance of common stock & APIC is derived as follows:

Common stock & APIC = Paid-In Capital + Capital raised from selling 50 million shares at $20 each - Treasury Stock

This gives:

Paid-In Capital = $500 million

Issuance of 50 million shares at $20 each amounts to:

Treasury Stock involves buying back 20 million shares priced at $45 each.

Inserting the numbers leads to:

Common stock & APIC = $500 million + $1000 million - (20 million shares × $45 each)

Therefore, Common stock & APIC = $1500 million - $900 million = $600 million

6 0
2 months ago
Other questions:
  • Based on the lesson and your research, how would you fund a four-year college degree? In two to three sentences, explain your ch
    14·3 answers
  • Access to sensitive or restricted information is controlled' describes which of the key communications and information systems p
    15·2 answers
  • Suppose the price of a Snickers candy bar is $2.00 at both the airport and the grocery store. The price elasticity of demand for
    5·2 answers
  • A company's unit costs based on 100,000 units are: Variable costs $75 Fixed costs 30 The normal unit sales price per unit is $16
    8·1 answer
  • On january 1, 2019, quenneville corporation sold equipment to wirtz, inc., for $500,000. the equipment had cost $300,000 to manu
    11·1 answer
  • Fabri Corporation is considering eliminating a department that has an annual contribution margin of $35,000 and $70,000 in annua
    7·1 answer
  • Scott Rolen, major league third baseman, agrees to defer $5 million from his salary this year for 10 years at 7 percent compound
    6·2 answers
  • Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______.
    9·1 answer
  • Emergency room health care tends to have a demand curve that is very steeply sloped, while elective surgery does not. Why? Also,
    15·1 answer
  • Eddy Company is starting business and is unsure of whether to sell its product assembled or unassembled. The unit cost of the un
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!