2 years ago, we purchased a house with a $450,000 mortgage with a 30 yr, 8% loan.
A. What is the monthly payment?
B. How much is owed after 2 years?
C. How much interest did we pay over a 2 yr period?
D. If we are looking to refinance the current balance and the current rate is 3.75% what would be
the monthly payment on a 20yr and 15 yr mortgage?
Answers
A. To calculate the monthly payment, we can use the formula for a fixed-rate mortgage:
P = L[c(1 + c)^n]/[(1 + c)^n - 1]
Where:
P = Monthly payment
L = Loan amount (or mortgage amount)
c = Monthly interest rate (which is the annual interest rate divided by 12)
n = Total number of monthly payments (which is the number of years multiplied by 12)
Using the given values, we can calculate the monthly payment as follows:
c = 0.08/12 = 0.0066667 (monthly interest rate)
n = 30 x 12 = 360 (total number of monthly payments)
P = 450000[0.0066667(1 + 0.0066667)^360]/[(1 + 0.0066667)^360 - 1] = $3,284.62
Therefore, the monthly payment is $3,284.62.
B. After 2 years, we have made 24 monthly payments. To calculate the amount owed after 2 years, we can use the following formula:
A = L[(1 + c)^n - (1 + c)^p]/[(1 + c)^n - 1]
Where:
A = Amount owed after p periods (in this case, 2 years or 24 months)
L, c, and n are the same as in part A.
Using the given values, we can calculate the amount owed after 2 years as follows:
A = 450000[(1 + 0.0066667)^360 - (1 + 0.0066667)^24]/[(1 + 0.0066667)^360 - 1] = $438,499.34
Therefore, the amount owed after 2 years is $438,499.34.
C. To calculate the amount of interest paid over a 2-year period, we can subtract the amount of principal paid from the total payments made during that time. The total payments made over 2 years would be the monthly payment multiplied by the number of payments, which is 24 in this case:
Total payments = 24 x $3,284.62 = $78,830.88
To calculate the amount of principal paid, we can use an amortization table or a mortgage calculator. The amount of principal paid after 2 years is approximately $20,742.26.
Therefore, the amount of interest paid over a 2-year period is:
$78,830.88 - $20,742.26 = $58,088.62
Therefore, the amount of interest paid over a 2-year period is $58,088.62.
D. To calculate the monthly payment for a 20-year and a 15-year mortgage at the current rate of 3.75%, we can use the same formula as in part A, but with the new interest rate and term.
For a 20-year mortgage:
c = 0.0375/12 = 0.003125 (monthly interest rate)
n = 20 x 12 = 240 (total number of monthly payments)
P = 438499.34[0.003125(1 + 0.003125)^240]/[(1 + 0.003125)^240 - 1] = $2,596.47
Therefore, the monthly payment for a 20-year mortgage at 3.75% interest would be $2,596.47.
For a 15-year mortgage:
c = 0.0375/12 = 0.003125 (monthly interest rate)
n = 15 x 12 = 180 (total number of monthly
Related Questions
A certain state uses the following progressive
tax rate for calculating individual income tax:
Income Progressive
Range ($) Tax Rate
0 - 10,000
3%
10,001 - 50,000 5%
50,001 - 100,000 5.5%
Calculate the state income tax owed on a $40,000
per year salary.
tax = $[?]
Round your answer to the nearest whole dollar amount.
Enter
Answers
The state income tax owed on the $40,000 salary should be $1,800.
The calculation of the state income tax owed on $40,000 salary should be:= 3% of $10,000 + 5% of $30,000
= $300 + $1,500
= $1,800
Therefore we can conclude that the state income tax owed on the $40,000 salary should be $1,800.
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Answer:
its 550
Explanation:
Plss help me NO LINKS AND I MEAN IT NO LINKS IF LINKS YOU WILL BE REPORTED AND DON'T DO IT JUST FOR POINTS
Companies perspective: I believe the benefits of gated content is giving content to a specific amount of people.
Customers perspective: The content is nice because, it gives me access.
Please answer the question picture above.
Answers
Answer: No i would not
Explanation:
When a manager speaks to an employee, the employee pays the most attention to: Nonverbal communication Verbal communication
Answers
In American business culture, when a manager is speaking to an employee, the employee should pay more attention to Nonverbal communication.
When an employee is talking to a manager:
The manager will not give complete instructions The manager will expect the employee to take some sort of leadThe only way the employee will be able to know these things is by paying attention to the nonverbal communication cues of the manager.
In conclusion, employees pay more attention to nonverbal communication.
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Planning to finance higher education helps people prepare for their financial future because it teaches them about.......
a.) funds management and loans
b.) their educational options
c.) the real world
d.) meeting short term goals
Answers
Randall purchased an insurance policy and stated he never had heart trouble, but he had a myocardial infarction several years prior to his application. Shortly after the policy was issued, Randall experienced a fatal heart attack. What action is the insurance company likely to take
Answers
Answer:
The action the insurance company should take is that they should cancel the insurance policy between them and Randall and return all the premiums paid to date
Explanation:
Here in this question, we are interested in knowing what action the Insurance company will take in the eventuality that Randall experienced a fatal heart attack.
The action the Insurance company will take is that the insurance policy will be canceled and all premiums which have hitherto being paid by Randall will be returned. What we are saying is that the Insurance company will not be liable or held responsible to make payment for the medical costs of the fatal heart attack suffered.
Hence, we can conclude that the Insurance company in this case is not bind by law to pay for the cost of the medical bill and is only to return the premiums already paid by Randall.
If I read 12 pages in 15 minutes how many pages while I read in two hours
Answers
Answer:
96 pages in two hours
Explanation:
You can read 48 pages in 1 hour because 15 x 4 is 60, and 12 x 4 is 48. So you just double 48 and you get 96.
50 points. Ethics are essential in good accounting. For this assignment, find examples of poor ethical behavior in accounting and some of the fallout of those behaviors. Remember to use good writing habits. Cite your sources.
Answers
Answer:
Ethics of accounting information is providing accounting information to make good economic decisions in the financial statement of the organization.
Explanation:
Which network could not carry comercial traffic?
Answers
Answer:In 1991 the NSF allowed Advanced Network and Services (ANS), a non-profit company established by the Merit Network, IBM, and MCI to carry commercial traffic over the ANSNet backbone, the same infrastructure that carried traffic for theNSFNET Backbone Service.
Explanation:
If a stadium increases its profit margin from $250,000 to $575,000, what is the percentage increase in profit margin?
Answers
Answer:
250,000x575,000 a percentage is 1 thusand
The percentage increase in profit margin would be : 57%
First, we'll get increase in the profit
= $575,000 - $250,000
= $325,000
Then, the percentage increase in profit margin
= $325,000 / $575,000 * 100
= 0.57 * 100
= 57%
Hence, the percentage increase in profit margin would be 57%.
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Bummerland finds itself in a recession caused, as assumed in class, a sticky nominal (money) wage (W) which is too high to clear the labor market.
Bummerland has a Treasury and a "Federal Reserve" (called the Bummerb¬ank). At a meeting of officials of both agen¬cies, various antirecess¬ionary policies are considered. The economic staffs of both agencies are seriously split on issues such as how interest sensitive investment is and how interest sensitive the demand for money is. However, they are in agreement that the marginal propensity to consume (b) is .75 and the marginal propensity to hold cash (k) is .2. Bummerland has banks, but the reserve requirement is 100%, so they don't create money.
Debate has narrowed to four prospective policies. Your as¬signment is: (1) illustrate these policies using IS,LM diagrams; (2) compare as completely as possible ( if you can't, you must explain what additional information would be required ) the effects of these policies on Y*, r, I*, the real wage, and unemployment. Class format is strongly encour¬aged.
Here are the four policies: (1) a $50 billion increase in the money supply by means of open market opera¬tions; (2) a $50 billion increase in the money supply to be introduced by reducing tax collections; (3) a $50 billion increase in the money supply to be introduced through government spending; (4) a $50 billion increase in unemployment benefits paid for with a tax increase.
Answers
Answer:
is this a book if so send me a link
Explanation:
QUESTION 4 of 10: In this market research step, data related to the problem are collected and studied:
a) Choose the best solution
b) Analyze data
c) Obtain data
d) Identify the problem
o
Answers
Answer:
b/ because its acurat
Explanation:
Answer:
c … obtain data
Explanation:
thanks me later
Dysfunctional turnover: Group of answer choices occurs when a low performing employee remains employed with the organization. occurs when a high performing member of the organization quits. occurs when any employee who is a member of the organization quits. occurs when a high performing member of the organization remains employed. g
Answers
Answer:
occurs when a high performing member of the organization quits.
Explanation:
Dysfunctional turnover can be regarded as a separation which is voluntary action between different levels of performers. It should be noted that Dysfunctional turnover occurs when a high performing member of the organization quits.
Which of the following types of business ownership has the highest personal liability risk?
A.
A partnership
B.
A sole proprietorship
C.
A C corporation
D.
An LLC
Answers
Answer:
A C corporation
Explanation:
Answer:
A.partnership
I have picked out A because in a partnership business,one is responsible for the progress of the business and when the business is in debts,he can even sell his personal property to cover up the loss made
when a discontinued operation is sold before the end of the reporting period, the income or loss from operations and the or on the disposal of assets is included in the reported income. (enter one word per blank.)
Answers
When a discontinued operation is sold before the end of the reporting period, the or from operations and the gain or loss on the disposal of assets is included in the reported income.
What is discontinued operation?
Discontinued operations, which are reported separately from continuing activities on the income statement, are divisions of a company's core business or product line that have been sold off or discontinued. Because it's crucial that investors easily distinguish between the profits and cash flows from ongoing operations and those that have ended, discontinued operations are presented separately on the income statement. This distinction is particularly helpful when two companies merge since it allows one to more clearly see which assets are being sold or folded, which helps one to predict how profitable the new entity will be.
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FILL IN THE BLANK.____ costs are costs that require a firm to spend money. While ____ costs do not require a firm to spend money or take on obligations.
Answers
Explicit costs are expenses that a company must pay for. Implicit costs, however, do not call for financial outlays or commitments from a company.
What are the biggest expenses for companies?Direct materials, direct labor, and manufacturing overhead make up a product's expenses. These three charges add up to the final product price. Overhead includes indirect labor and indirect supplies.
What various charges do businesses incur?There are two kinds of expenses, fixed and variable. Although fixed and variable expenses have different effects on the firm, both are crucial to its profitability. Definition of the term "volume" will be helpful when discussing expenditures.
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Renee works at Indigo Inc. and attends school part-time as part of her company’s educational assistance program. In 2020 her company reimbursed her a total of $6,250 for tuition, books, supplies, fees, etc., related to her schooling. How much of this amount can Renee exclude from her gross income?
A. $0, this is a company sponsored benefit and does affect the individual’s return
B. $5,250, the maximum exclusion allowed under an employer’s educational assistance program
C. $5,750 the maximum exclusion allowed under an employer’s educational assistance program
D. $6,250 the maximum exclusion allowed under an employer’s educational assistance program
Answers
An investor sells 150 shares of Amazon (AMZN) stock at $35.00 and pays a $7 commission. What is the total amount of money received by the investor ?
$5,243
$5,250
$5,520
Please help me answer it correctly
Answers
Answer:$5,257 well....thats not an option so im sorry....if i were to guess based on answer opitons i would pick $5,243
Explanation:
:)
Here is a linear demand function: Q = 10 -0.5P. Find its price function by inverting the demand function. Then find its total revenue function by multiplying through by Q. The linear demand function Q = 400 -250P inverts into the price function P = 1.6 -0.004Q. Multiplying this by Q gives its total revenue function TR = 1.6Q -0.004. Evaluate the following expression.
Y = 5(2X + 3)2 -2X2
Answers
Answer:
\(P = 20 - 2Q\)
Explanation:
\(Q = 10 - 0.5P\)
Price function can be estimated by inverting the demand function.
\(Q = 10 - 0.5P \\\\0.5P = 10 - Q\\P = 10/0.5 - Q/0.5 \\P = 20 - 2Q\)
This is the price function.
Total revenue function can be estimated using the given formula,
\(TR = P*Q \\ = (20 - 2Q) Q \\ = 20Q - 2Q^2\)
The linear demand function is given by,
\(Q = 400 - 250P \\\)
Price function is given by,
\(P = 1.6 - 0.004Q \\\)
Total revenue function is thus given by,
\(TR = P*Q \\ = 1.6Q - 0.004Q^2\)
\(Y = 5(2X+3)^2 - 2X^2 \\Y = 5(4X^2 + 9 + 12X) - 2X^2\\Y = 20X^2 + 45 + 60X - 2X^2\\Y = 18X^2 + 45 + 60X \\\)
The derivative of Y with respect to x is,
\(dY/dX = 36X + 60\\\)
Equating this equal to 0 we get,
\(36X + 60 = 0 \\36X = -60 \\X = -10/6 \\\\X= -1.66\)
Match each term in Column A with its definition in Column B.
(Column A) 1. favorable balance of trade 2. tariff 3. subsidy 4. customs inspection 5. “infant” industry 6. quota 7. foreign-currency controls. (Column B) a limit on the total amount or value of a
product that may be imported
b. limits on the amount of another nation's
money that an importer may buy to
purchase imports
c. an excess of exports over imports
d. an investigation to determine if goods entering the country are legal and if they are
subject to a tariff
e. a tax on imports
f. an industry that is in the early stages of de-
velopment in a country
g. a government payment to support an individual, a firm, or an industry.
Answers
Matching of items implies that one is merging or connecting or aligning items that share things or meanings in common together for a significant alignment. Read below about these matching.
What are the correct matching of these items?The correct matching of these items are as given below;
Favorable balance of trade: an excess of exports over importsTariff: a tax on importsSubsidy: a government payment to support an individual, a firm, or an industry.Customs inspection: an investigation to determine if goods entering the country are legal and if they are subject to a tariff“Infant” industry: an industry that is in the early stages of development in a countryQuota: a limit on the total amount or value of a product that may be importedForeign-currency controls: limits on the amount of another nation's money that an importer may buy to purchase imports.Therefore, the above matching is the correct matching of items.
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Feed the Hungry Children, a (fictitious) not-for-profit tax-exempt entity under IRC Sec. 501(c)3, has been in operation for six years. The mission of the group is to provide healthy breakfast meals to children in inner city schools, so they can best learn. A wealthy local philanthropist has been meeting with the organization hoping to change the direction of the organization in return for a $1,000,000 permanent endowment donated to the group. While these negotiations were taking place this year, the organization suspended its normal operations. The draft of the Form 990 for this fiscal year shows 0 revenues and 0 expenses for this fiscal year and penciled in is a $1,000,000 gift from the philanthropist. The treasurer of the Board is drafting the Schedule A for the Form 990 in preparation for reporting to the Board whether the organization's status has changed form a public charity to a private foundation. Go to the www.irs.gov website and obtain Form 990, Schedule A. In your own words, construct an argument to support why this tax-exempt entity is still a public charity.
Answers
Despite the suspension of normal operations and the potential $1,000,000 gift from a wealthy local philanthropist, there is still an argument to support that Feed the Hungry Children, the not-for-profit tax-exempt entity, remains a public charity.
1. Review the requirements for a public charity: According to IRC Sec. 501(c)3, a public charity must receive a substantial part of its support from public contributions and grants and be organized and operated for charitable purposes.
2. Examine the mission and purpose: Feed the Hungry Children's mission is to provide healthy breakfast meals to children in inner city schools, with the aim of helping them learn better. This aligns with a charitable purpose focused on improving the well-being of children and promoting education.
3. Consider the organization's history: Feed the Hungry Children has been in operation for six years, consistently providing healthy breakfast meals to children in need. Its long-standing commitment to charitable activities demonstrates a track record of serving the public interest.
4. Evaluate the potential gift: The $1,000,000 gift from the local philanthropist, although substantial, does not automatically change the organization's status from a public charity to a private foundation. The organization's eligibility is determined by its overall sources of support, not a single donation. If the gift does not significantly alter the public support test, Feed the Hungry Children can still maintain its public charity status.
5. Analyze the Form 990, Schedule A: The treasurer of the Board is preparing the Schedule A for the Form 990, which provides information about the organization's public support and support schedule. By reviewing this form, it will be possible to determine whether the organization's public charity status has changed or if it still meets the required criteria.
6. Document the argument: Compile the findings from the review, emphasizing the organization's charitable purpose, its history of serving the public, and the evaluation of the potential gift's impact on public support. Present these points in a well-structured and persuasive argument to support the conclusion that Feed the Hungry Children remains a public charity.
It is important to consult with legal or tax professionals for accurate and specific advice in interpreting tax laws and regulations related to the organization's status.
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Imagine that you are a school counselor and a student comes to see you confused about what clubs or organizations to join. They say that they have NO IDEA what they want to do when they grow up. What are some questions you would ask them in order to help guide their selection? Come up with at least three questions.
Answers
Some questions a school counselor might ask a student to guide their selection of clubs or organizations might be:
What are your hobbies?Have you already chosen your future career?What subjects do you like the most?How to choose extracurricular activities?It is essential that the student chooses activities and groups that are aligned with his/her profile, preferences and abilities. Assuming that the student likes to write and read, then the book club could be ideal for the student to further develop their skills.
The school counselor is the professional responsible for helping the student to make educational and professional decisions based on their needs, characteristics and will.
Therefore, the guidance of the student by the school counselor is advantageous for motivating and making the student understand more about their wishes and future perspectives for cognitive and social development.
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Application of Forensic Accounting Concepts
Complete Case 21 & 28. Refer to the Case in the textbook for detailed instructions.
Answers
Answer:
An essential step in the incident response process is digital forensics. In order for law enforcement to use the information about a criminal incident, forensic investigators must identify and document it.
What is Digital Forensics?
In a court of law, rules and regulations governing this procedure are frequently crucial in demonstrating guilt or innocence. A person who is motivated to follow the trail of evidence and virtually solve a crime is a digital forensics investigator.
In this case, a computer forensic analyst would be called in to assess how attackers got onto the network, how they moved around it, and what they did there, including whether they stole data or installed malware.
In similar situations, a digital forensic investigator's job is to recover information such as documents, images, and emails from computer hard disks and other data storage devices, like zip and flash drives, that has been lost, destroyed, or in some other way altered.
Therefore, An essential step in the incident response process is digital forensics. In order for law enforcement to use the information about a criminal incident, forensic investigators must identify and document it.
Explanation:
Problem-6; (chapter 3) SS Ltd. obtained significant influence over YY Ltd by buying 30% of Y's 100,000 outstanding ordinary shares at a cost of Br 18 per share on January 1, 2022. On May 15, YY declared and paid a cash dividend of Br 150,000. On December 31, YY reported net income of Br 270,000 for the year. (a) record acquisition of shares (a) record revenue and dividends
Answers
(a) Record acquisition of shares: Investment in YY Ltd. Dr. Br 540,000, Cash Cr. Br 540,000.
(a) Record revenue and dividends: Dividend Receivable Dr. Br 45,000, Revenue from Investment in YY Ltd. Cr. Br 45,000; Investment in YY Ltd. Dr. Br 81,000, Revenue from Investment in YY Ltd. Cr. Br 81,000.
(a) To record the acquisition of shares by SS Ltd. on January 1, 2022:
Investment in YY Ltd. (30% of 100,000 shares * Br 18) Dr. Br 540,000
Cash Cr. Br 540,000
This journal entry records the purchase of 30% of YY Ltd.'s outstanding shares for a total cost of Br 540,000.
(b) To record revenue and dividends for the year:
On May 15, YY Ltd. declared and paid a cash dividend of Br 150,000. This dividend represents the portion of the company's earnings that will be distributed to its shareholders.
Dividend Receivable Dr. Br 45,000 (30% of Br 150,000)
Revenue from Investment in YY Ltd. Cr. Br 45,000
This entry recognizes the dividend revenue earned by SS Ltd. from its investment in YY Ltd.
On December 31, YY Ltd. reported net income of Br 270,000 for the year. As SS Ltd. has significant influence over YY Ltd., it needs to adjust its investment account for its share of the net income.
Investment in YY Ltd. Dr. Br 81,000 (30% of Br 270,000)
Revenue from Investment in YY Ltd. Cr. Br 81,000
This entry records the revenue earned by SS Ltd. from its share of YY Ltd.'s net income.
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Quantitative Problem: Rosnan Industries' 2019 and 2018 balance sheets and income statements are shown below.
Balance Sheets
2019 2018
Assets
Cash and equivalents $100 $85
Accounts receivable 275 300
Inventories 375 250
Total current assets $750 $635
Net plant and equipment 2,300 1,490
Total assets $3,050 $2,125
Liabilities and Equity
Accounts payable $150 $85
Accruals 75 50
Notes payable 150 75
Total current liabilities $375 $210
Long-term debt 450 290
Total liabilities 825 500
Common stock 1,225 1,225
Retained earnings 1,000 400
Common equity 2,225 1,625
Total liabilities and equity $3,050 $2,125
Income Statements
2019 2018
Sales $2,265 $1,565
Operating costs excluding depreciation and amortization 1,250 1,000
EBITDA $1,015 $565
Depreciation and amortization 100 75
EBIT $915 $490
Interest 63 46
EBT $852 $444
Taxes (25%) 213 111
Net income $639 $333
Dividends paid $54 $48
Addition to retained earnings $585 $285
Shares outstanding 100 100
Price $25.00 $22.50
WACC 10.00%
The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash.
Using the financial statements given above, what is Rosnan's 2019 free cash flow (FCF)? Use a minus sign to indicate a negative FCF. Round your answer to the nearest cent.
Answers
The 2018 free cash flow for Rosnan Industries is $158. The balance sheet was the based on the Rosnan Industries' 2019 and 2018.
Particular 2018 2019
Current Asset $635 $750
Current Liability $135 $255
Net working capital 500 525
Net increases in working capital 25
The capital expenditure is made are computed:
Ending balance of fixed asset 2300
Add: Depreciation 100
Less: Begging of fixed amount 1490
Capital expenditure: 910
Net income: 677
Add: Depreciation 100
Less: Capital expenditure -910
Less: Net increases in Net WC -25
Free cashflow -158
The 2018 free cash flow for Rosnan Industries is $158.
As a result, the significance of the Rosnan Industries' 2019 and 2018 balance sheets are the aforementioned.
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Suppose you start saving for retirement when you are 45 years old. You invest $5,000 the first year and increase this amount by 3% each year to match inflation for a total of 20 years. The interest rate is 10% per year. How much money will you have saved when you are 65 years old
Answers
Answer:
FV= $404,734.15
Explanation:
Giving the following information:
Annual investment (A)= $5,000
Increase rate= 3%
Interest rate= 10%
Number of periods= 20 years
To simplify calculations, we will sum up the increased rate to the interest rate. The effect on the investment of both rates is the same.
Real interest rate= 0.03 + 0.1= 0.13
Now, to determine the nominal value of the account in 20 years, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {5,000*[(1.13^20) - 1]} / 0.13
FV= $404,734.15
If stock prices go up then investors____.
Answers
If stock prices go up then investors make higher profits or gains. Strong earnings typically lead to an increase in the stock price (and vice versa).
However, the stock price of some businesses that aren't doing all that well is nonetheless skyrocketing. Investor hopes that the firm would become profitable in the future are reflected in this growing price. There are, however, no assurances that a firm will live up to the current aspirations of investors to become a high-earning corporation in the future, regardless of the stock price.
The price of a stock can also be impacted by business-specific news, such as the publishing of an earnings report, especially if the firm is posting after a weak quarter.
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Bonnie’s Doll Company produces handmade dolls. The standard amount of time spent on each doll is 2.0 hours. The standard cost of labor is $20 per hour. The company planned to make 8,000 dolls during the year but actually used 17,500 hours of labor to make 9,000 dolls. The payroll amounted to $344,750. Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours.
Answers
The actual labor price will be $19.70 and the actual labor hours per doll will be 1.94 hours per doll.
Determine the working hours.Standard Actual Labor Cost $20 per hour $19.70 per hour Dolls Planned 8,000 Dolls 9,000 Dolls Labor Hours 2 Hours 1.94 Hours Labor 16,000 hours of use 17,500 hours Payroll $320,000 $344,750 The table shows that the actual labour cost is slightly less than the standard labor cost, which is $20 per hour, at $19.70 per hour. The actual labour hours per doll are slightly less than the standard 2 hours per doll, at 1.94 hours. The company originally intended to produce 8,000 dolls, but ultimately produced 9,000 dolls. Compared to the 16,000 hours that were planned, they actually worked 17,500 hours.
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You estimate that by the time you retire in 35 years, you will have accumulated savings of $2 million. If the interest rate is 8% and you live 15 years after retirement, what annual level of expenditure will those savings support?
Answers
Answer:
We can use the present value of an annuity formula to determine the annual distribution. I'm assuming that your distributions will be made in a similar manner to an annuity due (the first payment happens when you retire).
annual distribution = principal balance / PV annuity factor
principal balance = $2,000,000PV factor annuity due, 8%, 15 periods = 9.24424annual distribution = $2,000,000 / 9.24424 = $216,350.94
if instead, the first distribution is received at the end of the first year of retirement, then the annual distribution will be:
annual distribution = principal balance / PV annuity factor
principal balance = $2,000,000PV factor ordinary annuity, 8%, 15 periods = 8.55948annual distribution = $2,000,000 / 8.55948 = $233,659.05
Principles of Economics: Outlines Ten Principles of Economics that we will replicate here, they are:
Answers
Answer:
The correct answers are:
1) People face trade-offs
2) The cost of something is what you give up to get it
3) Rational people think at the margin
4) People respond to incentives
5) Trade can make everyone better off
6) Markets are usually a good way to organize economic activity
7) Governments can sometimes improve market outcomes
8) A country's standard of living depends on its ability to produce goods and services
9) Prices rise when the government prints too much money
10) Society faces a short-run tradeoff between Inflation and unemployment.
Explanation:
To begin with, those ten principles of economics were first introduce by Gregory Mankiw in the book he wrote name Principles of Economics and he devided the principles in sections in where he organized the way everything was connected. Therefore that there are three major headlines of that are: How people make decisions; How people interact with each other; and the forces and trends that affect how the economy as a whole works.
Why is having a long credit history with a few blemishes that were corrected better than a short history that is clear? edg