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3 (Components of an annuity payment) You take out a 25-year mortgage for $300,000 to buy a new house. What will your monthly payments be
3 (Components of an annuity payment) You take out a 25-year mortgage for $300,000 to buy a new house. What will your monthly payments be if the interest rate on your mortgage is 8 percent? Use a spreadsheet to calculate your answer. Now, calculate the portion of the 48th monthly payment that goes toward interest and principal. Use five decimal places for the monthly interest rate in your calculations. a. Using a spreadsheet to calculate your answer, your monthly payments will be $ (Round to the nearest cent.) b. The portion of the 48th monthly payment that goes toward interest is $. (Round to the nearest cent.) The portion of the 48th monthly payment that goes toward principal is $. (Round to the nearest cent.) 4 (Corporate income tax) Meyer Inc. has taxable income earnings before taxes) of 5323,000. Calculate Meyer's federal income tax liability using the tax table shown in the popup window. What are the firm's average and marginal tax rates? The firm's tax liability for the year is $. (Round to the nearest dollar.) The firm's average tax rate is %. (Round to two decimal places.) The firm's marginal tax rate is % (Round to the nearest integer.)
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