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
LekaFEV [45]
2 years ago
5

Donaldson's purchased some property for $1.2 million, paid 25 percent down in cash, and financed the balance for 12 years at 7.2

percent, compounded monthly. What is the amount of each monthly mortgage payment
Business
1 answer:
Leya [2.2K]2 years ago
6 0

Answer:

$9,352.27

Explanation:

25% of 1.2million

25/100×$1,200,000

=$900,000

Monthly mortgage Payment (p)=r(PV)/{1-(1+r)^-n}

Present value (PV)=$900,000

r=7.2%/12

=7.2/100÷12

=0.072/12

r=0.006

n= 144(12 years×12months)

P=r(PV)/{1-(1+r)^-n}

=0.006×$900,000/{1-

(1+0.006)^-144

=$5,400/{1 - (1.006)^-144}

=$5400/{1 - 0.4226}

=$5,400/0.5774

=$9,352.27

You might be interested in
Jack Simpson, contract negotiator for Nebula Airframe Company, is currently involved in bidding on a follow-up government contra
Schach [20]

Answer:

3,825.2 labor hours

Explanation:

Learning rate (Unit 1 and unit 2):

= Labor hour required for 2nd unit ÷ Labor hour required for 1st unit

= 1,200 ÷ 2,000

= 0.60

Learning rate (Unit 2 and unit 3):

= Labor hour required for 3rd unit ÷ Labor hour required for 2nd unit

= 1,130 ÷ 1,200

= 0.94

Average of learning rates = (0.60 + 0.94 ) ÷ 2

                                           = 0.77

As per learning curve calculator the value of 77% for 6 units = 4.0776

Cumulative time = Factor × Time of first unit

                           = 4.0776 × 2,000

                           = 8,155.2

Hence,

Time for next three units:

= Cumulative time - Sum of the time of first, second and third unit

= 8,155.2 - (2,000 + 1,200 + 1,130)

= 3,825.2 labor hours should Simpson plan for.

4 0
2 years ago
Cakes by Dominic
CaHeK987 [17]

Answer:

One motive that Dominic might have was that he has always wanted to become an entrepreneur and his grandmother wants him to take over the shop for her since his cake-making skills had very much improved since he started. And another motive Dominic had was that there was not a lot of jobs open for him in the area, so he was glad to help.

Explanation:

7 0
1 year ago
Use the following list of accounts for Milner's Star Express Cleaning Service. Cash $2,026 Fees Earned 13,835 Accounts Payable 7
Marysya12 [62]

Answer:

                 Milner's Star Express Cleaning

Income Statement For the Year Ended December 31, 20--

Fees Earned                   13,835

Utilities Expense   153

Rent Expense    1,200

Wages Expense 1,650  

total expenses              <u>   3,003   </u>

net income                      10,832

Explanation:

We will subtract the expenses account from the fees earned to get net income

The other accounts will be ignores as they are not used in the calculations for the net income

3 0
2 years ago
A perfectly elastic demand curve implies that the firm: A) must lower price to sell more output. B) can sell as much output as i
dsp73

Answer:

A perfectly elastic demand curve means that the firm can sell as much output as it chooses at the current price.

Explanation:

The perfectly elastic demand implies that the demand curve is horizontal line parallel to the X axis. The price is fixed at a point and the firm can sell any amount of output at this point. The demand is infinite at the given price level. If the firm makes any changes in this price level, the demand will become zero.

4 0
2 years ago
Josefina submitted a complaint online that is non-serious in nature. How will OSHA most likely respond?
OlgaM077 [116]

Answer:

B. Contact the employer by phone, fax, or email

Explanation:

Josefina submitted a complaint online that is non-serious in nature. The OSHA most likely respond by contacting the employer by phone, fax, or email.

Because the complaint is of informal or non serious nature, the other option does not sit well with the situation. To satisfy Josefina, they would just make a call or send and email or fax so she is satisfied and feels that her complaint is being looked at.

7 0
2 years ago
Other questions:
  • Which factor most directly affects a furniture company's supply?
    14·1 answer
  • Piper​ Corporation, which manufactures dog​ toys, is developing direct labor standards. The basic direct labor rate is​ $16.79 p
    12·2 answers
  • Last year, Jarod left a job that pays $60,000 to run his own bike-repair shop. Jarod’s shop charges $65 for a repair, and last y
    6·1 answer
  • Suppose a gold miner finds a gold nugget and sells the nugget to a mining company for $500. The mining company melts down the go
    10·1 answer
  • Before he went to​ college, Jon bought a car from his brother Tony. They agreed that Jon would pay Tony​ $10,000 when Jon gradua
    5·1 answer
  • On April 1, Robert LLC purchased two units of inventory, A and B. The cost of unit A was $650, and the cost of unit B was $625.
    15·1 answer
  • A new tax business, Taxes Done Right, will purchase a copying machine. After speaking with their financial advisor, they find th
    8·1 answer
  • Sixteen years ago, Alicia invested $500. Eight years ago, Travis invested $900. Today, both Alicia's and Travis' investments are
    5·1 answer
  • Boise Corporation reported ROA of 4%, ROE of 6%, and Sales/Total assets ratio of 2.0 last year. What is the company's profit mar
    11·1 answer
  • You have 21 product displays. Six have 5 shelves and 15 have 4 shelves. It is store policy to dedicate at least one full shelf t
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!