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
wel
3 months ago
8

A buyer with a 15-year, $250,000 loan at a 5.5% interest rate has a monthly principal and interest payment totaling $2,042.71. W

hat is the total amount of interest the borrower will pay over the course of the loan
Business
1 answer:
marusya05 [3.7K]3 months ago
8 0

Given:

Loan amount = $250,000

Interest rate = 5.5%

Interest payment = $2,042.71

To find:

Total amount of interest

Solution:

The total duration in 15 years equals 15\times12=180\text{ years }

Overall monthly payments will be 180\times \$2042.71 = \$367687.8

Thus, the complete payback sum is $367,687.80

<pThe total interest to be paid is calculated as follows,

\text{Total interest paid = Total pay-backs - Loan amount}

By substituting the appropriate values into the equation above, we determine that,

\Rightarrow \$3,67,687.8-\$250,000=\$1,17,687.80

The total interest amount that the borrower will end up paying throughout the loan period is $117,687.80.

You might be interested in
Brendan and sean combined their love of baseball with a business venture. they purchased a small cart and began selling memorabi
Scilla [3833]
The right answer is C. Environmental Circumstance refers to the situations that create the basis for any claimed breach or responsibility under the law or permit in relation to the environment. In this instance, both individuals launched a business that thrived in its first year, but faced challenges in the second year due to poor team performance and adverse economic conditions. Thus, this situation can be interpreted as environmental circumstances that are challenging to manage and inherently variable.
8 0
1 month ago
One local hospital has just enough space and funds currently available to start either a cancer or heart research lab. If admini
marusya05 [3725]

Answer:

The total payoff is  $50000

Explanation:

solution

The payment is represented at a certain point in a circular format.

This reflects the cumulative results and their probabilities.

The total payoff point is

total payoff  = 0.5 × $100,000 + 0.5 × 0

total payoff  =  $50000

It indicates that the best decision would be the cancer lab, as it presents the highest expected return of 60000  

 

8 0
2 months ago
To produce espressos, a coffee shop has fixed costs of 200 dollars each day and variable costs of one dollar per espresso. The n
stepan [3596]

Response

The solution and methods for the problem are included in the upcoming image.

Clarification

Please take into account the information supplied by the task. If you have any inquiries, feel free to contact me again. All the problems are addressed on a single page with references to the formulas.

7 0
2 months ago
If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will
stepan [3596]
The right answer is A. Avoiding government interference.
4 0
1 month ago
Other questions:
  • A person works as a cashier in a major supermarket. She sells vegetables to
    15·2 answers
  • Suppose that the demand equation for Bobby Dolls is given by q = 216 – p2, where p is the price per doll in dollars and q is the
    9·1 answer
  • Describe the different types of instructional characteristics that this program should have for learning and transfer to occur a
    9·1 answer
  • Volunteers serving alcohol at a special event must
    7·1 answer
  • Suppose a museum charges different entrance fees for children, students, adults and seniors, but these groups all pay the same a
    5·1 answer
  • At the first meeting, team members appear to have a difference of opinion regarding the direction of the project. Robin and Khal
    11·1 answer
  • Cho is working on poverty reduction in a Philadelphia public housing development. In the analysis he writes after the project, h
    14·2 answers
  • 1. What recommendations would you make to Jim to help him improve the financial
    10·1 answer
  • Total quality management (tqm) emphasizes all but which one of the following?a. Team-based work design and the creation of a tot
    15·1 answer
  • Tracy consumes dress shoes​ (D) and casual Crocs​ (C). Her marginal utility from consuming casual Crocs is MU Subscript Upper CM
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!