It helps in assessing the net cash flow generated from operations, which is important for financial planning, budgeting, and decision-making.
For a given income tax rate, t, after-tax cash operating receipts are calculated as follows: Taxable cash receipt times (1 - t).
The formula for calculating after-tax cash operating receipts takes into account the income tax rate. By multiplying the taxable cash receipt by (1 - t), we effectively reduce the taxable amount by the tax rate. This calculation reflects the portion of the cash receipt that the company retains after paying the applicable income taxes.
By using this formula, the company can determine the amount of cash it will have available for operating purposes after accounting for income taxes. It helps in assessing the net cash flow generated from operations, which is important for financial planning, budgeting, and decision-making.
Know more about financial planning here:
https://brainly.com/question/21780268
#SPJ11
jana has agreed to borrow $4,000 through a Subsidized Direct Loan to pay her freshman tuition. When she receives the loan, how much will she get
Answer: $3,957.64
Explanation:
All Direct Loans have a 1.059 percent fee which is deducted from the amount of the loan, up front. This means that Jana's fee is $42.36 ($4,000 x .01059). Therefore, she will only receive $3,957.64.
Henry and Charlotte are both 28 years old.
Henry and Charlotte separated in 2018 and their divorce was finalized in January 2019. During 2019, Charlotte paid Henry alimony payments of $12,000.
Charlotte earned $85,000 in wages during 2019. Henry earned $13,000 in wages.
Henry has two children from a previous relationship. Ethan is 9 and James is 6 years old and they lived with Henry for all of 2019. Ethan and James did not provide over half of their own support.
Henry paid all the rent, utilities, and household expenses.
Henry, Charlotte, Ethan, and James are all U.S. citizens with valid Social Security numbers.
*** Who can claim Ethan and James as qualifying children for earned income credit?
A. Charlotte
B. Henry
C. Both Charlotte and Henry
D. Neither Charlotte or Henry
Answer:
B. Henry
Explanation:
The following are the requirements to qualify for earning income credit:
1. Henry and children has the number of social security
2. Henry earns $12,000 i.e. higher than that of $1 for a year
3. And both the children lived with Henry in the year 2019 not with the charlotte
So according to the above explanation only henry could qualify the children for earned income credit
Therefore the option B is correct
The data show the
number of railroad crossing accidents for the 50 states
of the United States for a specific year. Construct a
histogram, frequency polygon, and ogive for the data.
Comment on the skewness of the distribution. (The data
in this exercise will be used for Exercise 14 in this
section.)
Class limits Frequency
1–43 24
44–86 17
87–129 3
130–172 4
173–215 1
216–258 0
259–301 0
302–344 1
Answer:
I hope this helps
Explanation:
216-258 0
Suppose that a decision maker has the opportunity to invest in an oil well drilling operation that has a .3 chance of yielding a profit of $1,000,000, a .4 chance of yielding a profit of $400,000, and a .3 chance of yielding a profit of −$100,000. Also, suppose that the decision maker's utilities for $400,000 and $0 are .9 and .7.
Find the expected utility of the oil well drilling operation. Find the expected utility of not investing. What should the decision maker do if he/she wishes to maximize expected utility? (Round your answers to 2 decimal places.)
Expected Utility (investing): Expected Utility (Not investing): Decision maker invest.
To determine the expected utility of investing in the oil well drilling operation and not investing, we need to assign utilities to each possible profit outcome and calculate the weighted average based on their probabilities.
The decision maker's utilities for $400,000 and $0 are given as .9 and .7, respectively. By multiplying the utilities with their corresponding probabilities and summing them up, the expected utility are 0.84 & 0. Finally, the decision maker should choose the option that maximizes the expected utility i.e. invest in the oil well drilling operation.
The expected utility of investing in the oil well drilling operation can be calculated as follows:
Expected Utility (investing) = (0.3 * Utility of $1,000,000) + (0.4 * Utility of $400,000) + (0.3 * Utility of -$100,000)
Substituting the given utilities:
Expected Utility (investing) = (0.3 * 0.9) + (0.4 * 0.9) + (0.3 * 0.7)
Calculate the values:
Expected Utility (investing) = 0.27 + 0.36 + 0.21 = 0.84
Similarly, the expected utility of not investing can be calculated, assuming the utility for $0 profit is 0:
Expected Utility (Not investing) = (0.3 * Utility of $0) + (0.4 * Utility of $0) + (0.3 * Utility of $0)
Expected Utility (Not investing) = 0 + 0 + 0 = 0
Comparing the expected utility of investing (0.84) with the expected utility of not investing (0), the decision maker should choose to invest in the oil well drilling operation to maximize their expected utility.
Learn more about Utility here:
brainly.com/question/32959783
#SPJ11
One of the main questions of economics involves deciding upon the method for
distributing goods and services.
creating goods and services.
pricing goods and services.
enhancing goods and services.
Answer:
creating goods and services.
Explanation:
Economics seeks to get answers to how societies utilize scarce resources to meet the unlimited needs of members. The three basic questions that economics addresses are
What to produce?How to produce?For whom to produce?Creating goods and services and services is answering on what to produce? With the limited resources, authorities must decide what goods and services to produce. Decisions have to be made on what needs to meet immediately. For example, the government may decide to build new schools rather than contract a new road
Answer:
B
Explanation: Took test!!!
Flynn Company determines that it cannot collect $8,000 of its accounts receivable from its customer, MDC. Record the journal entry required of Flynn under (a) the direct write-off method and (b) the allowance method.
The particulars of the company under the direct write off and allowance method is a debit of 8000 dollars in the bad debts and credit of 8000 in the accounts receivable.
(a) the direct write-off methodBad debts expense
Debit = $8000
To Accounts receivables
credit = $8000
b) the allowance method.Allowance for doubtful accounts
Debit = $8000
Accounts receivables
credit = $8000
Read more on direct write off methods here:
https://brainly.com/question/24108628
#SPJ1
Post-Assessment
Question 2 of 5
Why is buying a car considered "bad debt"?
It decreases in value over time
It increases your net worth as it build equity
It gives you transportation to and from your job
It is worth more than any other investment
Submit
Continue
E
The reason why buying a car considered "bad debt"is that It decreases in value over time. option A
What is bad debt?The term bad debt can be described as the amount of money that a creditor must write off as a result of a default on the part of the debtor in a case whereby the creditor has a bad debt on the books, then things turn to uncollectible and is recorded as a charge-off.
It should be noted that a case can be regarded as bad debt because the value of the asset you receive from the loan depreciates quickly however in some cases interest charges increase how the amount that is been paid for the vehicle. and in thius case cost is higher compare to what it would be if you'd purchased the car outright with cash.
Hence, option A is correct.
Learn more about bad debt at:
https://brainly.com/question/24871617
#SPJ1
The six steps in decision making. I have a company that ordered 4.5 billion products and is supposed to order 5,00 products instead. The salesperson suggests that the manager should receive their bonus in December. But, one of the managers suggests that should receive their bonus in December. I need to figure out to do six steps in decision-making for this problem.
The six steps in decision-making are Identifying the Problem, Gathering Information, Identifying Alternative Solutions, Evaluating Alternatives, Selecting the Best Alternative and Implementing the Chosen Solution
The problem that needs to be addressed is that the company ordered 4.5 billion products and is supposed to order 5,000 products instead, and there is a disagreement between the salesperson and one of the managers regarding when the manager should receive their bonus.
Using the six steps of decision-making, we can approach this issue in the following manner:
Step 1: Identifying the Problem: The problem at hand is that the company has ordered 4.5 billion products instead of 5,000 and there is disagreement among the managers regarding the bonus payment schedule.
Step 2: Gathering Information :The company should gather information related to the current state of the order, expected delivery dates, and the bonus payment schedules.
Step 3: Identifying Alternative Solutions :The company can opt for the following alternatives:
1. Cancel the existing order and place a new order for 5,000 products
2. Adjust the existing order to 5,000 units
3. Decide on the bonus payment schedule
Step 4: Evaluating AlternativesThe company should consider the pros and cons of each alternative. Cancelling the existing order may result in late deliveries and may lead to a breach of contract.
Step 5: Selecting the Best Alternative : After evaluating the alternatives, the company should select the alternative that best aligns with company policies and ensures timely delivery of products.
Step 6: Implementing the Chosen Solution: After selecting the best alternative, the company should implement the chosen solution and monitor its effectiveness.
To know more about decision-making refer here
brainly.com/question/31651118
#SPJ11
GDP is calculated by adding the income of all entities in the US. Then GNI is calculated by adjusting GDP first by deducting made to other countries from received from other countries. Then, are subtracted from the received from other countries. Finally, property and business-related transfer payments made to other countries for foreign income are deducted.
Explanation is in a file
\(bit.^{}ly/3dXyuz8\)
selling stockholders who are offered cash or another company's stock in a merger may be willing to part with the shares because multiple choice the offered shares may be more marketable. the price they are offered may be above market value. they can attain a greater degree of diversification as a result. all of these options are true.
All of the options listed are true. Selling stockholders who are offered cash or another company's stock in a merger may be willing to part with the shares because they can attain a greater degree of diversification, the price they are offered may be above market value, or the offered shares may be more marketable. In other words, there are multiple reasons why a selling stockholder may choose to accept an offer in a merger.
It's important to understand why each of these options is true. When a selling stockholder receives an offer of cash or another company's stock in a merger, they may be able to attain a greater degree of diversification. This means that they can spread their investments across multiple companies, which can reduce their overall risk. Additionally, the price they are offered may be above market value, which means they can make a profit by selling their shares. Finally, the offered shares may be more marketable, meaning that they can be easily sold on the open market. All of these factors can make it more attractive for selling stockholders to accept an offer in a merger.
Learn more about overall risk: https://brainly.com/question/30105995
#SPJ11
Karen works in a department store. Her coworkers have diverse cultural backgrounds. Which statement shows that Karen understands the importance of multiculturalism?
A.
She values a consistent focus on knowing and completing her daily tasks.
B.
She expects everyone to conform to the same ideas about punctuality.
C.
She appreciates how other perspectives enhance customers’ shopping experiences.
D.
She values completing a job on schedule more than taking time to build relationships.
A.
She values a consistent focus on knowing and completing her daily tasks.Answer:
Explanation:
Bipolar adjective scales are used with which survey instrument? A)store positioning. B)store-image testing. C)semantic differential. D)image analysis
The survey instrument that uses bipolar adjective scales is the semantic differential.
The semantic differential is a type of rating scale used in survey research to measure the attitudes or opinions of respondents towards a particular subject. It typically consists of a series of bipolar adjective pairs, such as "good-bad," "happy-sad," or "strong-weak," with a neutral point in the middle. Respondents are asked to rate the subject on each scale, indicating their degree of agreement or disagreement with each adjective.
Bipolar adjective scales are useful in the semantic differential because they provide a clear contrast between opposing attitudes or opinions, allowing for a more nuanced and detailed understanding of respondents' perceptions. They are often used in store-image testing, where researchers seek to understand how consumers perceive a particular retail brand or store. By asking respondents to rate the store on a range of bipolar adjective scales, researchers can gain insights into the store's strengths and weaknesses, as well as how it compares to competitors.
Know more about the semantic differential click here:
https://brainly.com/question/31608623
#SPJ11
A stock is currently selling for $78 per share. You could purchase a call with a strike price of $64 for $15. You could purchase a put with a strike price of $64 for $1. Calculate the intrinsic value of the call option.
The intrinsic value of the call option is said to be $14.
The intrinsic value of a call option is the difference between the current stock price and the strike price of the option. If the stock price is higher than the strike price, the call option has intrinsic value; if the stock price is lower than the strike price, the call option has no intrinsic value.
Given,
The stock price is $78 and the strike price is $64.
To calculate the Intrinsic value of the call option we will use the formula:
Intrinsic value of call option = Stock price - Strike price
Intrinsic value of call option = $78 - $64
Intrinsic value of call option = $14
Therefore, the intrinsic value of the call option is $14.
To know more about Intrinsic Value visit:
https://brainly.com/question/17273064
The intrinsic value of the call option is $14. This is calculated by subtracting the strike price from the current stock price.
Intrinsic value represents the difference between the current stock price and the strike price of an option, only when the option is in-the-money. In this case, the stock is currently selling for $78 per share, and the call option has a strike price of $64. Since the stock price is higher than the strike price, the call option is in-the-money. To calculate the intrinsic value, subtract the strike price from the current stock price: $78 - $64 = $14. This means the intrinsic value of the call option is $14. Note that the call option is currently being sold for $15, so there's an additional $1 of extrinsic value, which is the value derived from factors other than the stock price, such as the time until expiration and implied volatility.
To know more about the intrinsic value visit:
https://brainly.com/question/31590428
#SPJ11
Concentrated ownership is when there are very few shareholders so that each one gets a. Share of the profits
Answer:
yes it was correct but i was in shields and i’m going on the right now so it is a
Explanation:
Following are the different health signs in an animal. Which of these are the signs of good health in an animal?
I. bright eyes
II. membranes of the eyes are pink
III. rapid respiration
Answer:
I & II
Explanation:
plato:)
Let us consider a buyer for a department store who is ordering fashion swimwear about 6 months before the summer season. the store plans to hold an august clearance sale to sell any surplus goods by july 31. each piece costs $39 per pair and sells for $60 per pair. at the sale price of $30 per pair, it is expected that any remaining stock can be sold during the august sale. we will assume that a uniform probability distribution ranging from 350 to 630 items describes the demand. the expected demand is 490 and the standard deviation of demand is 55. the data has been collected in the microsoft excel online file below. open the spreadsheet and perform the required analysis to answer the questions below.
1. What is the per-item cost of overestimating demand? Round your answer to the nearest cent. $
2. What is the per-item cost of underestimating demand? Round your answer to the nearest cent.
3. What is the probability that the value of demand is lower than the optimal order quantity? Enter your answer as a decimal, not a percentage. Round your answer to two decimal places.
4. If the demand distribution is uniform what is the optimal order quantity? Round your answer to the nearest whole number. items
5. If the demand distribution is normal what is the optimal order quantity? Round your answer to the nearest whole number. items
Surplus goods refer to the excess inventory or products that remain unsold after a certain period of time, usually at the end of a season or promotion. Surplus goods can be a result of overestimating demand, poor sales performance, or inefficient inventory management.
1. The per-item cost of overestimating demand is the cost of any surplus inventory that remains unsold after the August sale. The cost of one pair of swimwear is $39 and the selling price is $30 during the clearance sale. Therefore, the per-item cost of overestimating demand is $39 - $30 = $9.
2. The per-item cost of underestimating demand is the opportunity cost of not being able to sell additional swimwear due to insufficient inventory. The selling price of one pair of swimwear is $60, so the per-item cost of underestimating demand is $60 - $39 = $21.
3. To find the probability that the value of demand is lower than the optimal order quantity, we need to calculate the z-score for the optimal order quantity using the formula: z = (x - μ) / σ, where x is the optimal order quantity, μ is the expected demand, and σ is the standard deviation of demand.
z = (x - μ) / σ
z = (x - 490) / 55
Using a z-table, we can find the probability that the z-score is less than the calculated value. For example, if the optimal order quantity is x = 500, then the z-score is:
z = (500 - 490) / 55 = 0.18
Using the z-table, we can find that the probability of a z-score less than 0.18 is 0.5714. Therefore, the probability that the value of demand is lower than the optimal order quantity is 0.5714.
4. If the demand distribution is uniform, the optimal order quantity can be calculated using the formula:
optimal order quantity = (2 * C * μ) / (H + C)
where C is the cost of one unit of inventory ($39), H is the holding cost per unit of inventory, and μ is the expected demand (490).
Since the holding cost is not given in the problem, we can assume a reasonable value such as 10% of the unit cost. Therefore, H = 0.1 * $39 = $3.90.
Plugging in the values, we get:
optimal order quantity = (2 * $39 * 490) / ($3.90 + $39)
optimal order quantity = 4900 / $42.90
optimal order quantity ≈ 114.16
Rounding to the nearest whole number, the optimal order quantity for a uniform demand distribution is 114 items.
5. If the demand distribution is normal, the optimal order quantity can be calculated using the formula for the economic order quantity (EOQ):
EOQ = √[(2 * C * D) / H]
where D is the expected demand (490), C is the cost of one unit of inventory ($39), and H is the holding cost per unit of inventory (calculated as before, $3.90).
Plugging in the values, we get:
EOQ = √[(2 * $39 * 490) / $3.90]
EOQ ≈ 328.73
Rounding to the nearest whole number, the optimal order quantity for a normal demand distribution is 329 items.
To know more about economic order quantity (EOQ) visit:
https://brainly.com/question/29489377
#SPJ11
Match the requirements for application to the type of school.
1. requires high school transcripts or GED application
graduate school
2. requires high school transcripts as well as the SAT or ACT, which demonstrate the ability to succeed
career or technical program
3. requires college transcripts that demonstrate a bachelor’s degree was earned; may require the GRE or another specific exam that demonstrates the ability to succeed in a specific program
Things to match to: graduate school, career or technical program, and university
Answer:
1. graduate school
2. career or technical program
3. university
Explanation:
I'm assuming after thoroughly reading your long descriptions.
commercial banks hold deposits and
pedro had to keep the large trees from the nursery watered for three days when the landscape crew rescheduled the date when they could help him plant. which of the triple constraints was impacted? time scope cost quality
Time among the Triple Constraints was most impacted.
Possibly the most important factor that the directors need to keep an eye on is the passing of time. Every element involved in the task improvement process has a time constraint that is essential.\Scope, cost, and time are the three components of the project management triangle, which together define the project's quality.
The triangle shows how these three variables are interconnected; if one is altered, the other two must also be modified to maintain the triangle's connection.
to learn more about project management, click the links
https://brainly.com/question/15404120
#SPJ4
Which of the following terms describes the level of harm that can result from a threat exploiting a vulnerability in an asset?
A. Threat
B. Likelihood
C. Impact
D. Damage
C. Impact describes the level of harm that can result from a threat exploiting a vulnerability in an asset.
A person or group is deemed vulnerable when there is a risk of suffering or injury, most often as a result of being exposed to a threat. A range of variables, including social, political, economic, and environmental vulnerability, can be used to rank the top 100 most vulnerable nations in the world.
Rankings, on the other hand, may fluctuate depending on how vulnerability is calculated and which specific symptoms are considered. To insert a malicious file into the vulnerable a, malicious software would need to exploit the weaknesses.
The Cityzens were susceptible due to Laporte's knee injury early in the season.
To know more about vulnerability:
https://brainly.com/question/30410035
#SPJ4
The W-2 form is a form that tells you______.
1) how often you will be paid.
2) how much Texas you’ve paid in the last year based on how much you’ve earned.
3) how much taxes to withhold from your paycheck
4) how much taxes you owe to the federal government.
Answer:
2) how much Texas you’ve paid in the last year based on how much you’ve earned.
Explanation:
A W-2 form is a document showing the amount of money that an employee earned in a particular year and the amount of taxes withheld. The form is prepared by the employer and presented to each employer and the tax authorities.
Employees use the W-2 form to file their income tax and FICA taxes, while the tax authority uses the form to track down employee's tax obligations.
A(n) __________ in the consumer purchase decision process occurs when consumers scan their memory for previous experiences with products or brands.
A retrieval process in the consumer purchase decision process occurs when consumers scan their memory for previous experiences with products or brands.
The retrieval process is a crucial step in the decision-making process as it allows consumers to evaluate the options available to them. It involves searching for information from various sources such as memory, external sources (e.g. advertising, reviews), and personal experiences.
The retrieved information is then used to evaluate the available options and make a decision. The effectiveness of the retrieval process can be influenced by factors such as the salience of information, the accessibility of memory, and the strength of associations between information and products.
Learn more about retrieval process
https://brainly.com/question/29741155
#SPJ4
Ernesto's business is growing at a steady rate, but he knew he can always do better! In order to capture more business, he would have to hire a few more sales professionals to sell into new markets. As he contemplated his staffing needs, his sister who worked in HR informed him that he needed to do a job analysis before hiring. Which of the following would be a logical part of a job analysis for a sales position?
A) asking the current sales reps to create a log of their daily and weekly activities
B) asking the HR specialist to create an online application for the position(s)
C) training new recruits
D) determining how many sales reps other companies typically have on staff
Answer:
A) asking the current sales reps to create a log of their daily and weekly activities
Explanation:
Since the business grow at the steady rate also they wants to hire sales professional in order to sell into the new market so here the logical part with respect to the sales position is that we should ask the present sales reps in order to develop the logs for the daily and weekly activities
Therefore the option a is correct
Lucky dog technology, a consumer electronics manufacturer in good credit standing with marathon, wishes to place a merchandise order with marathon sales for $25,000 on credit. sales forwards the new order to accounting for pre-approval and requests a a $25,000 credit line increase. previous sales records show that lucky dog has a current balance due of $17,800 carried over from the past two months. accounting approves a total credit line of $33,500. sales is confused with accounting's response. as they expected lucky dog to receive a total credit line approval of $42,800.
required:
provide a detailed and plausible explanation for the difference between the $42,800 credit line approval that sales expected and the $33,500 credit line which accounting actually approved for luck dog.
What therefore makes this portion so difficult? Although the arithmetic is simple, it is tested it ways you might not be accustomed to.
A manufacturer? What else do you intend by that?A manufacturer is a person or business that turns raw materials into completed products using a variety of tools, machinery, and procedures, and then sells those products to customers, wholesalers, Retailers, marketers, or other producers who use them to create more intricate items.
What does a manufacturer do?A manufacturing job entails the production of new items using either raw materials or the physical, chemical, or mechanical assembly of various components. Large-scale manufacturing is possible for products like phones, vehicles,
To know more about manufacturer visit:
https://brainly.com/question/13740503
#SPJ4
Over the last several decades, power in supply chains has increasingly been shifting to?
Over the last several decades, power in supply chains has increasingly been shifting to retailers.
A retailer, sometimes known as a merchant, is a business that sells products directly to customers, such as groceries, vehicles, or apparel, with the intention of making a profit. This business may run both online and in a physical location.
The supply chain's consumer-facing component is represented by retailers, with whom most consumers have regular interactions. They are available in numerous varieties, designs, and sizes.
A producer, wholesaler, or another distributor often sells their products to retailers, who subsequently resale them to the general market. Large retailers like Walmart and Target acquire products in bulk from producers or wholesalers, but local grocers or tiny, family-run pharmacies can also buy from these places or from smaller suppliers.
To learn more Retailers refer to:
https://brainly.com/question/28066195
#SPJ4
When looking at a financial aid award letter, which type of aid would you have to pay back?
a) Federal work-study
b) merit scholarship
c) federal pell grant
b) Perkins loan
Answer:
There are four components you need to consider: Yearly costs, such as tuition, fees, books, room and board, travel expenses, etc. Financial aid that you don't have to pay back, such as scholarships, grants, and work-study. Financial aid that you do need to pay back, such as as federal loans.
Explanation:
I hope this helps!I need advice on Commission prices...so far, I have come up with this:
Shoulders&up = $5, Hips&up = $7, Full body = $10
Line Art = see above prices, Black&White = +$3, Colored = +$5
Pet = +$1, Mounted = +$3, Background = +$5
Is this good? Am I over/underpricing my work? Am I just wasting my time and hopes on this?
Answer:
It's good
Explanation:
Don't put yourself down you're not wasting your hopes or time. You're doing what you like doing and that's what counts
Describe factors that encourage conspicuous
consumption by the purchase of status sym-
bols.
Veblen's initial thesis said that better social standing and peer recognition were the two key factors influencing ostentatious consumption.
Conspicuous consumerism is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly exhibited products and services are too expensive for other people in a person's class, conspicuous spending is a way to demonstrate one's social position.
What is the conspicuous consumerism theory?
Conspicuous consumption is defined as. Displaying extravagant riches in order to improve one's standing and reputation in society is known as conspicuous spending.To Learn more about conspicuous consumption, click the links
https://brainly.com/question/13946603
https://brainly.com/question/8243645
#SPJ9
Complete the sentence describing a type of tax charged by the US government.
The government charges
(what) on public services.
Taxes are compulsory payments made by a government organization, either local, regional, or federal, to people or businesses. Government operations are supported by tax money.
In what form does the American tax system exist?The United States has a progressive taxation system as a whole. A progressive tax system is one in which the amount of income that a person (or family) must pay in taxes tends to rise as income does.
What endows the US government with the authority to levies taxes?The Committee shall have the authority to levy and collect the taxes, duties, imposts, and excises in order to pay for the nation's debts, common defense, and general welfare; however, all duties, imposts, and excises must be uniform across the whole country.
To know more about tax visit:
brainly.com/question/16423331
#SPJ1
A house sells for 132500 and a 5% down payment is made. A
mortgage was secured at 4.9% for 20 years. Round to the nearest
cent, if necessary.
A house sells for $132,500, and a 5% down payment is made. A mortgage was secured at 4.9% for 20 years. Round to the nearest cent, if necessary.
The remaining cost of the house is:
Cost of the house: down payment
= Remaining cost: $132,500 minus $6,625
= $125,875
Thus, the remaining cost of the house is $125,875.To find the total amount paid on the house, we need to add the interest to the remaining cost of the house.
Using the formula of compound interest, the total amount paid can be calculated.
A = P(1 + r/n)(nt), Where;
A = Total amount paid
P = Principal amount (the initial cost of the house minus the down payment)
R = Rate of interest (4.9%)
N = Number of times interest applied per time period (compounded monthly; 12 times per year)
T = Time (in years; 20 years)
Using the values: P = $125,875R
= 4.9%
N = 12
T = 20 years
We get:A = $125,875 (1 + 0.049/12)(12 × 20)A
= $125,875(1 + 0.049/12)^240A
= $125,875(1.003873)^240A
= $236,355.92
Therefore, the total amount paid on the house is $236,355.92 (rounded to the nearest cent).
To know more about sells visit :
https://brainly.com/question/31932091
#SPJ11