You borrowed $547,000 for the purchase of your new home. This loan carries an annual percentage rate
Question:
You borrowed $547,000 for the purchase of your new home. This loan carries an annual percentage rate of 4.85 percent. It will be paid off through equal monthly payments including both principal and interest, over a 30-year period. What is the monthly payment required?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
PV 547000 ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Construction accounting and financial management
ISBN: 978-0135017111
2nd Edition
Authors: Steven j. Peterson
Question Posted:
Students also viewed these Accounting questions
-
An installment contract for the purchase of a car requires payments of $252.17 at the end of each month for the next three years. Suppose interest is 8.4% p.a. compounded monthly. (a) What is the...
-
The buyer contracted with the seller for the purchase of ribs. After delivery, the buyer refused to pay the contract price, claiming that the ribs arrived in an "off condition." The seller fi led...
-
The Epic Contest awards $10,000,000. It will be paid over the next 50 years at the rate of $250,000 per year with the first payment today. With a discount rate of 9 percent, what is the present value...
-
Do you agree with the following statements? Why or why not? a. The benefits of corrective taxes as a way to reduce pollution have to be weighed against the deadweight losses that these taxes cause....
-
A mixture of liquids A and B exhibits ideal behavior. At 84C, the total vapor pressure of a solution containing 1.2 moles of A and 2.3 moles of B is 331 mmHg. Upon the addition of another mole of B...
-
Exercise 3-2 Adjusting and paying accrued expenses LO P1 a. On April 1, the company retained an attorney for a flat monthly fee of $3,500. Payment for April legal services was made by the company on...
-
When misclassification costs are involved, what is the best metric for comparing model performance?
-
Throughout your college career, you have been employed on a part-time basis by the Center for Entrepreneurship of your business college. The Center for Entrepreneurship provides executive training...
-
The ________ Act prohibits public companies from making personal loans to their directors or executive officers. A. Commodity Futures Modernization B. Sarbanes-Oxley C. Foreign Corrupt Practices D....
-
Gibson Agency Case: 1. Calculate and present the budgeted profit for each of Gibson's clients for each of the years 2016 through 2019, using the current costing system (i.e., the one described in the...
-
You want $750,000 to upgrade your store in 8 years. The treasurer wants to make equal payments at the end of each year into a fund for the purpose of accumulating this amount. If the fund can earn an...
-
G Corporation is considering acquiring a newer, more modern machine. The machine, which requires an initial outlay of $4.0 million, will generate cash flows of $1.75 million at the end of each year...
-
Terry was hired as an assistant manager by the Assurance Manufacturing Company. There was no specific time period related to Terrys employment. During Terrys first day at work, the personnel director...
-
The COVID pandemic has created a crisis for many restaurateurs. The author of one of this week's readings has a suggestion that he thinks could help restaurants survive the crisis. Read the article...
-
Evidence is used to make a decision whenever the decision follows directly from the evidence (Tingling & Brydon, 2010). This is where so many people get it wrong or going by their personal beliefs or...
-
Pick 2 countries, find the price of a Big Mac in each country (if you want to pick another good/service, go ahead), express the price in the local currency, then with the help of exchange rate,...
-
Your task is to educate the public about the role of the Fed in the economy. Role: You are an economic issues reporter for PBS. Audience: Television audience of The Newshour on PBS Situation: Your...
-
Trade Queens Limited is a highly successful FMCG in Zambia. Salient points from the Year-end report indicate the following: Operating profit for the 2022 financial year is up 60% year on year,...
-
Preparing for a Negotiation. How would you prepare for and negotiate with businesspeople from Mumbai, India? From Paris, France? From Stockholm, Sweden? From Rio de Janeiro, Brazil? From Gaborone,...
-
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
-
Is there a need to regulate mergers? Explain your answer.
-
Explain the potential trade- off between the two fundamental qualitative characteristics.
-
If the financial statements are to be understandable to users, they must be prepared in a very clear and simple manner for the benefit of those who are less sophisticated. Is this true? Explain.
-
Describe how consistency and uniformity promote comparability.
-
Question 3 (24 marks) Wonderful Technology Company Limited sells computers and accessories. Data of the store's operations are as follow: Sales are budgeted at $400,000 for December 2019, $420,000...
-
Kratz Manufacturing Company uses an activity-based costing system. It has the following manufacturing activity areas, related cost drivers and cost allocation rates: Activity Cost Driver Cost...
-
You are a Partner with Fix-It Consultants and have been engaged in an advisory capacity with a software company, called MoveFast. The company is seeing a sharp decline in revenue, with the primary...
Study smarter with the SolutionInn App