Jim and Lisa are buying their first home together. The purchase price is $157,500.00 and they are putting a 20 percent down payment on the home. They have been approved for a 20-year loan at a 6 percent interest rate. What is the total amount of interest that they will pay during the entire loan?
A. $84,724.16
B. $86, 518.40
C. $88,724.16
D. $90,518.40

Answers

Answer 1

Answer: D. $90,518.40

Explanation:

They are putting a 20% down payment on the home which means they are paying 80%;

= 80% * 157,500

= $126,000

First find the monthly payments;

Present value = Payment * ((1 - (1 + r)^-n) / r)

n= 20 * 12 = 240 months

r = 6/12 = 0.5%

126,000 = Payment * (( 1 - ( 1 + 0.5%)⁻²⁴⁰) / 0.5%)

126,000 = Payment * 139.58077168292915831291691663652‬

Payment = 126,000/139.58077168292915831291691663652‬

Payment = $902.70313

They'll pay that for 240 months;

= 902.70313 * 240

= $216,648.7512

Interest = 216,648.7512 - 126,000

= $90,648.7512‬

= $90,648.75

Closest answer is D.

Answer 2

Answer:

$90,518.40

Explanation:


Related Questions

Does CG5 have a second channel or is it just the one?

Answers

Answer:

Just one

Explanation:

Answer:

i will check the channel of CG5

Explanation:

MARK ME AS THE BRAINLIEST

Kristina works at a coffee shop. She can produce 200 coffee drinks in four hours. What is her productivity for one hour?

Answers

Answer: She can produce 50 drinks in 1 hour, 200/4 = 50

Answer:

50

Explanation:

divide 200 by 4

hope this helps dont 4get to like and star

-mercury

A project has an initial cost of $40,000, expected net cash inflows of $8,000 per year for 11 years, and a cost of capital of 10%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to the nearest cent.

Answers

Answer:

the net present value is $11,961

Explanation:

The computation of the project NPV is as follows;

The net present value is

= Present value of cash inflows - initial investment

= $8,000 × PVIFA factor for 11 years at 10% - $40,000

= $8,000 × 6.4951 - $40,000

= $51,961 - $40,000

= $11,961

Hence, the net present value is $11,961

The same is to be considered

A loan to a company or government that pays investors a fixed rate of truth over a specific timeframe is known as:

1. 401k
2. Tax shelter account
3. Stocks
or 4. Bonds

Answers

Answer:

4. Bonds

Explanation:

Bonds are debt instruments used by corporates and governments to raise capital. Bonds are long-term sources of capital for a business and government and also an investment option to investors.

When the government or corporate issues bonds, they promise to pay the principal amount when the bond matures. Maturity ranges from 5 to 30 years. The bond issuer also commits to pay interest on regular intervals until the bonds mature. The interest to be paid is based on the coupon rate or interest rate as specified by the bond.

Many Americans oppose what kind of policy because they fear it will mean in practice, illegal quotas, preferential treatment of African Americans and women, and even reverse discrimination against white men?

Answers

It is the Great Market Crash

The decrease in total surplus that results from a market distortion, such as a tax, is called a a. consumer surplus loss. b. wedge loss. c. deadweight loss. d. revenue loss.

Answers

Answer:

Option "C" is the correct answer to the following question.

Explanation:

Dead-weight loss : A dead-weight loss seems to be a burden or tax or pay  to society generated by the ineffectiveness of the economy, which arises when market forces are out of control. Dead-weight loss may be attributed to any deficit caused by an inadequate redistribution of capital primarily used of economy.

Store A sells a watch for $56 and offers a 10% discount. Store B sells the same watch for $70 and offers a 30% discount. Store C sells it for $85 and offers a 45% discount. From which store should you buy? *

Answers

Explanation:

$56 * 0.9 = $50.4

$70 * 0.7 = $49

$85 * 0.55 = $46.75

Therefore the watch is cheapest at Store C.


Dear Future Millionaire,
I’m writing to you with an exclusive opportunity to get in on the ground floor of a life-changing investment opportunity. Are you ready to make your dreams come true? If you invest now in the Bio-Future Corp., it will happen. This company is at the cutting edge of scientific advancement, and I have personally received word from the CEO that they just made a major deal with a supplier, bringing them closer than ever to the market. Right now, a share of this stock costs only $2. You must invest early before the price skyrockets!
Sincerely,
Abe Kluck
Chloe received this email in her spam folder recommending a stock. What aspects of the letter should concern her? Choose four correct answers.
There is no information about the company.
It guarantees a high return on investment.
The company has “Future” in its name.

Answers

Answer:

In my opinion the answer is "It guarantees a high return on investment."

Answer:

A, B, D, E

Explanation:

got it right on edge

Tommy Richards is paid $20.50 an hour for a regular 40-hour week. He earns time and a half if he works overtime. This week Richards worked his regular 40 hours plus 9 hours of overtime. What is his total pay

Answers

Answer:

$1,094.50

Explanation:

Regular pay is $20.50

Over time pay is $20.50 x 1.5 = $30.75

Tommy earned as follows.

Regular hours : 40 x $20.50 = $820

Overtime hours: 9 x $30.75 =$274.50

Total amount earned

= $820 + $274.50

=$1,094.50

If a checking account has an interest rate of 1% and a government bond has an interest rate of 2%, the opportunity cost of holding the checking account as money is:

Answers

Answer:

the opportunity cost of holding the checking account as money is 1%

Explanation:

The computation of the opportunity cost of holding the checking account as money is shown below:

= Interest rate on the government bond - interest rate on checking account

= 2% - 1%

= 1%

Hence, the opportunity cost of holding the checking account as money is 1%

We simply applied the given formula so that the correct percentage could come

Jansen Inc. acquired all of the outstanding common stock of Merriam Co. on January 1, 2019, for $257,000.Annual amortization of $19,000 resulted from this acquisition.Jansen reported net income of $70,000 in 2019 and $50,000 in 2020 and paid $22,000 in dividends each year.Merriam reported net income of $40,000 in 2019 and $47,000 in 2020 and paid $10,000 in dividends each year.What is the Investment in Merriam Co. balance on Jansen's books as of December 31, 2020, if the equity method has been applied

Answers

Answer:

$286,000.

Explanation:

Calculation for the Investment in Merriam Co. balance on Jansen's books as of December 31, 2013, if the equity method has been applied

Using this formula

Investment balance=Common stock+ 2019 Reported net income+2020 Reported net income-Dividends-Annual amortization- Dividends-Annual amortization

Let plug the formula

Investment balance=$257,000 + $40,000 + $47,000 - $10,000 - $19,000 - $10,000 - $19,000

Investment balance= $286,000

Therefore the Investment in Merriam Co. balance on Jansen's books as of December 31, 2013, if the equity method has been applied will be $286,000

The term posting means: Entering transactions in a book of original entry Transferring debit and credit amount from the journal to the ledger Proving the equality of debit and credits in the ledger Determining the balances of individual ledger accounts

Answers

Answer: Transferring debit and credit amount from the journal to the ledger.

Explanation:

Posting in Accounting refers to the process of transferring debit and credit amounts from the books of original entry i.e the journals, to the relevant general ledger.

Posting to the general ledger is the third step in the Accounting Cycle and as such is very important in determining the balances to put into the Unadjusted Trial balance.  

1. Someone once said that the love of money is the root of all evil. Do you agree or disagree with this statement? Why?
2. Would you ever take a job as a volunteer--knowing that you were helping other people, but you would not get paid for your services. Why or why not?

3. Do you currently have a checking account, savings account, or credit card? If not, at what age do you think it is appropriate to have these types of accounts?

4. In order to buy a new bike, a car, or pay for college, it often takes time to save up the money. What types of things are important to you to save up for?

5. If you had to create a budget for your family, what are 5 necessary items that would be included in that budget? (For example, house payment or rent, utilities, etc).

Answers

Answer:

1. money makes people unpredictable and unreliable.

2. yes I would. even without the pay, being a volunteer is a fulfilling job. And it gives you a sense of responsibility and leadership standards that'll set you aside from others in respectable needs I.e job interview, college application.

3. yes I do have a students account. its necessary to open an account for even the youngest of kids as its good to get ahead in college savings.

4. college, a car , an apartment.

5. food

electricity

gas

school

water

Which are the two best examples of long-term needs that people need to save for?
1) college education
2)down payment on a home
3)medical emergences
4)plumbing problems in the home
5) unexpected car repair

Answers

Answer:

1. college education

2. medical emergencies

Explanation:

"Long-term needs" refer to things that you will be needing in the future. Among the choices above, the two best examples of long-term needs that people need to save for are: college education and medical emergencies.

Saving up for college is important if you want to have a bright future or a better salary. Having a good income will give you the chance to save up for your future home's down payment as well as mortgage payment. It will most likely give you a better quality of life. Thus, college education should come first.Saving up for medical emergencies is also crucial because we're all human beings who, at some point, will deteriorate physically. There are also incidents which we cannot control such as "car accidents." Having money allotted for it will prevent you from borrowing money from other people.

The Eks-Plore Company exports outdoor gear for firms on the east coast of the United States. The company identifies companies in Europe and Asia that market and sell these products. Eks-Plore handles all documentation, logistics, and transportation for the products. What type of business is the Eks-Plore Company?

Answers

Answer:

exporting trading company

Explanation:

Eks-Plore doesn't actually manufacture any outdoor gear. it provides trading services to companies that manufacture them. Eks-Plore sells goods produced in the US and exports them to foreign markets, e.g. European and Asian nations. This is a type of intermediary that is also responsible for located new potential markets where to sell the goods.

Repair Inc. issues a plan to combine operations with Service Company. Tom is a shareholder who disapproves of the deal. He may be entitled to an appraisal right if the combination is Group of answer choices a merger or a short-form merger. a purchase of substantially all of the assets of either corporation. none of the choices. a dissolution or winding up of either corporation.

Answers

Answer:

Repair Inc.

Tom may be entitled to an appraisal right if the combination is:

a purchase of substantially all of the assets of either corporation.

Explanation:

An appraisal right is Tom's right, as a dissenting stockholder, to demand appraisal and payment of the fair value of his stocks from either Repair Inc. or Service Company.  Since Tom has dissented and voted against the proposed combination, the appraisal right enables Tom to withdraw and demand the payment of the fair value of his shares in either corporation.

Suppose real GDP is $14 trillion and potential real GDP is $14.4 trillion. An increase in government purchases of $400 billion would cause real GDP to ________ potential real GDP (assuming a constant price level). Group of answer choices

Answers

Answer:

Suppose real GDP is $14 trillion and potential real GDP is $14.4 trillion. An increase in government purchases of $400 billion would cause real GDP to ___equal_____ potential real GDP (assuming a constant price level).

Explanation:

The real Gross Domestic Product (GDP) is the inflation-adjusted estimate of all output produced by the US economy in the current year.  On the other hand, the potential real GDP of the United States is the estimate of the inflation-adjusted output that the US economy would produce in the coming period, using its capital and labor resources.

True or false?

2 best friends are one mind in 2 bodies?

Answers

Answer:

True

Explanation:

because they are I hope its right

Answer:

well i would say true because friendship is a really strong thing

but then i don't really know

What program would be likely to help a person prepare for teacher certification?
O a master's degree in Psychology
O a bachelor's degree in Education
O a one-year technical school certificate
O an associate degree from a community college

Answers

Answer: The answer is a bachelor’s degree in Education.

Explanation:

To help a person prepare for teacher certification is likely program is a bachelor's degree in Education.

A Bachelor of Education (B. Ed.) is a professional undergraduate degree that qualifies graduates to work as teachers in educational institutions.

In other nations, like Tanzania and Kenya, the student must do additional activities like fieldwork and research in order to be completely qualified to teach.

Tests for the licenses or certificates necessary for instructors in some places may also be administered concurrently with or after it.

Therefore, the correct option is "a bachelor's degree in Education".

To know more about the bachelor's degree in Education, visit:

https://brainly.com/question/14197325

#SPJ2

The type of control system that only be succsseful in attining systrms' objective if we know with certinty the events that take place during system procees

Answers

Answer: Management control system

Explanation:

Management control system could be defined as a system that collects and uses information to analyze the performance of different organizational resources like human, physical, financial considering them all together in the light of organizational strategies pursued. It looks at comparing performances with the standards, plans or objective of the organization to determine if they are line with standards.

Credit cards can help When paid off on time regularly

Answers

Answer:

good to know.

Explanation:

Answer:

yes? I dont know if your talking about credit then your credit score will go up. but if your just telling us some info on credit cards. thanks

When Get the Glare Out needed some information about the potential market for its product, the marketing team looked to the Internet to find industry trends and at the market for eyewear products, which uses the same technology that is used in its self-darkening windshield. The type of information the marketing team was using is referred to as

Answers

Answer:

Secondary data

Explanation:

There are two types of data sources that can be used by individuals. These are the primary and secondary data.

Primary data is a data that is formed for the first time for a particular purpose. For example information contained from running experiments in a research study.

Secondary data is one that is obtained from primary data. Data was used for another purpose before now and the new user is using the existing data for another purpose.

The marketing team is using the Internet to find industry trends and at the market for eyewear products, which uses the same technology that is used in its self-darkening windshield.

This is secondary data that existed before now and is being used by the marketers to identify trends

The first thing that the customer needs to do to take a loan is

Answers

is a bank account because how their going to take a loan with no bank account

In a production cost report using process costing, transferred-in costs are most similar to: costs transferred-out to the next process. costs included in beginning inventory. conversion costs added during the process. material added at the beginning of the process.

Answers

can u please tell where are u from??

Answer:

hmm..... . . . .

...

..

....

is carriage inward
debit or credit​

Answers

Answer:

From the buyer's point of view, the delivery charge would he referred to as “carriage inwards”. Any such carriage charges should be debited to the carriage inwards account in the general ledger. The carriage inwards account is written off to the trading account at the end of the accounting period.

Explanation:

Carriage inwards refers to the transportation costs required to be paid by the purchaser when it receives merchandise it ordered with terms FOB shipping point. Carriage inwards is also known as freight-in or transportation-in. Carriage inwards is considered to be part of the cost of the items purchased.

I got a hair cut that I did not wanted but my parents did. Can some one give me tips or tell me a way to make my hair grow faster?

Answers

You can try to put aloe Vera and use it as a leave in conditioner, it will make your hair grow and give it shine and a healthy look. You can also try using vitamins for hair growth
You can get biotin pills or hemp oil hope this helped plz mark brainlist

I'm a Senior high school student with the interest of learning in investments. As a beginner, what should I learn first or what topics should I study about? Any tips about investing?​

Answers

Answer:

Explanation:

As an investor myself I believe that there are three main things that beginners should learn. The first one is learning to diversify and manage risk. It is important to understand that holding all your money in a single investment is never a smart idea regardless of how safe it may be. Secondly, would be learn the power of compound interest. Compound Interest is one of the most powerful tools/options an investor can focus on. Lastly, would be to have patience, know how to control your emotions, and wait for the right moment to act.

jetnhetnhtnhterk egrepjgjk

Answers

Answer:

jbjhh etdiuzfbv;f v;a

thx for the points

Explanation:

A protocol that resides on an incoming mail server. The current version is POP3.

Answers

A device that routes packets between networks based on the network-layer addresses; determines the best path across a network. Also used to connect separate LANs to form a WAN.

Using the SMART goal-writing criteria, what refers to answering the six "w" questions?

Specific
Measurable
Attainable
Realistic

Answers

Explanation:

specific is the right answer

Answer:

specific

Explanation:

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