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
vazorg [7]
2 years ago
5

Bob got a 30 year Fully Amortizing FRM for $1,500,000 at 4%, except with non-constant payments. For the first 2 years Bob will p

ay $1,250 per month. The loan will become a fully amortizing mortgage after 2 years. What will be the balance on this mortgage after 2 years
Business
1 answer:
ikadub [295]2 years ago
5 0

Answer:

$1,593,535.83

Explanation:

Future Value of mortgage determines the future value of a mortgage after payments have been made, at a regular frequency, charged a regular rate of interest, compounded at payment dates.

DATA

PV = $1,500,000

N = 24

r = 0.04/12

PMT = $1250

FV =?

Solution

PV = (PMT/r)*[1 – 1/(1 + r)^N] + FV/(1 + r)^N

1,500,000 = (1250/(0.04/12)) * (1 – 1/(1 + 0.04/12)^24) + FV/(1 + 0.04/12)^24

1,500,000 = 28785.31353687 + 0.92323916 FV

FV = (1,500,000 - 28785.31353687)/ 0.92323916

FV = $1,593,535.83

You might be interested in
A fast-growing computer service company is hiring a Computer Network Architect, a Computer Programmer, a Web Administrator, and
viktelen [127]
IT (Information Technology).
6 0
2 years ago
Read 2 more answers
Match the correct EFTA and PCI Standards.
docker41 [41]

Answer

EFTA (Electronic Fund Transfer Act)-place a stop payment on recurring payments

PCI standards-report stolen debit card, protect credit card data and maintain a secure network

Explanation

The Electronic Fund Transfer Act (EFTA) put in place laws that protect customers when making electronic bank transactions using computers, mobile devices and ATM machines. This Act can stop a payment that has been identified to occur recurrently.

The Payment Card Industry has data security standards and compliance that set policies and procedures to be followed in order to protect card transactions (debit, credit and cash) and eliminate the misuse of a card when making transactions. The standards which go under PCI are; reporting of stolen debit card, protecting credit card data and maintaining a secure network.


3 0
2 years ago
Read 2 more answers
Toby’s current marginal utility from consuming peanuts is 100 utils per ounce and his marginal utility from consuming cashews is
Ne4ueva [31]

Answer:

Toby is not maximizing his utility because MUp/Pp > MUc/Pc

Explanation:

given data

marginal utility consuming peanuts =  100 utils per ounce  

marginal utility  consuming cashews = 200 utils per ounce

peanuts cost = 10 cents per ounce  

cashews cost = 25 cents per ounce

solution

we know that Toby will have maximize utility when here

Marginal utility of peanut ÷  price of peanut  = Marginal utility of cashew  ÷ cash   ..........................1

MU (p) ÷ P (p) = MU (c) ÷ P (c)

put here value

\frac{100}{10} = \frac{200}{25}

but here

10 > 8

so we can say Toby is not maximizing his utility because MUp/Pp > MUc/Pc

8 0
1 year ago
Read 2 more answers
In his speech, George plans to convince his audience to buy a refillable water bottle instead of disposable water bottles. What
Brut [27]

Answer:

The general purpose of Georges speech is to make people shift towards adopting ways that would reduce plastic waste.

The world is currently suffering from plastic waste which is non biodegradable. It is harming the environment and destroying sea life.

Water being the most used product, using a reusable plastic water bottle would mean you use lease disposable ones that would automatically reduce plastic waste considerable. A huge different can be made to the hearths environment through it.

4 0
2 years ago
The accounting break-even production quantity for a project is 18,311 units. The fixed costs are $148,400 and the contribution m
Mars2501 [29]

Answer: A. $365,896

Explanation:

The Contribution margin per unit is the Sales less the variable costs.

At the breakeven point, contribution margin should equal fixed assets.

Contribution margin

= 13.10 * 18,311

= $239,874.10

Contribution Margin - Fixed Assets

= 239,874.10 - 148,400

= $91,474.10

As there should be no profits, the $91,474.10 will be a cost as well which in this case is the depreciation per year.

As the fixed assets are depreciated over 4 years, the accumulated depreciation will be the costs;

= 91,474.10 * 4

= $365,896.4‬0

=$365,896

8 0
2 years ago
Other questions:
  • Will using name brand microwave popcorn result in a greater percentage of pooped kernals than using store branf
    8·1 answer
  • which of the following statements about the impact of a company's competitive efforts in a region on its regional market share a
    10·1 answer
  • The manager of the sales department (a profit center) at Harvey’s HVAC, decides to outsource any sales training that the divisio
    5·1 answer
  • Pam works for a corporation that recently fired three top managers who were caught using the company credit cards to lavishly fu
    11·2 answers
  • The General Store at State University is an auxiliary bookstore located near the dormitories that sells academic supplies, toile
    15·2 answers
  • Hayes Corporation has $300 million of common equity on its balance sheet and 6 million shares of common stock outstanding. The c
    7·1 answer
  • A Calculate inventory amounts when costs are rising (LO6-3)
    15·1 answer
  • Describe the formation process of cross-border mergers, acquisitions, and international joint ventures. What are the major diffe
    11·1 answer
  • Felipe works for an insurance agency with about 50 employees. The HR director recently sent an email requesting information on w
    7·1 answer
  • óscar’s firm operates in a rapidly changing industry. he often must apply his excellent ________ to assess problems and develop
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!