5. Angela Corcoran bought a $125,000 home. She made a 12% down payment
and borrowed the rest on a 25-year, 8.8% fixed rate mortgage. Her
monthly mortgage payment was $908.10. A. How much was the down
payment Angela made? B. How much did she borrow on the mortgage? C.
What is the total amount of the monthly payments Angela expects to pay
over the life of the loan? D. What is the amount of interest Angela will
pay over the 25-year loan term?
6. The Coverley's bought a home for $162,500. They made a 5% down
payment and borrowed the rest on a 7.4%, 30-year fixed rate mortgage.
Their monthly payment was $1,068.86. A. How much was the down
payment they made? B. How much was the amount of their mortgage? C.
What was the total amount of their monthly payments over 30 years. D.
What was the amount of interest they paid over the life of the loan?

Answers

Answer 1

The details of the home bought by Angela Corcoran are:

$15,000 down payment.$110,000 was borrowed. $272,430 is the total amount of monthly payments. $162,430 is the total amount of interest to be paid.

The details for the home by the Coverley's are:

$15,000 down payment.$154,375 was borrowed. $384,789.60 is the total amount of monthly payments. $230,414.60 is the total amount of interest to be paid.

What are the payments for Angela Corcoran?

The down payment is:

= 12% x 125,000

= $15,000

The loan amount is:

= Cost of house - down payment

= 125,000 - 15,000

= $110,000

The total amount to be paid is:

= 908.10 per month x 12 months per year x 25 years

= $272,430

The total interest:

= Total amount paid - Cost of loan

= 272,430 - 110,000

= $162,430

What are the payments by the Coverley's?

The down payment is:

= 5% x 162,500

= $8,125

The loan amount is:

= Cost of house - down payment

= 162,500 - 8,125

= $154,375

The total amount to be paid is:

= 1,068.86 per month x 12 months per year x 30 years

= $384,789.60

The total interest:

= Total amount paid - Cost of loan

= 384,789.60 - 154,375

= $230,414.60

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Related Questions

Globalization of resource markets has resulted in the business practice of offshoring, which involves Multiple Choice no possible expansion of jobs in the U.S. only an outflow of jobs away from the U.S. huge losses to consumers in the U.S. both an outflow as well as an inflow of jobs in the U.S.

Answers

Globalization of resource markets has resulted in the business practice of offshoring, which involves D. both an outflow as well as an inflow of jobs in the U.S.

What is the globalization of resource markets?

The globalization of resource markets is the trending ability of those in the resource market to source and supply resources from anywhere in the world.

Globalization increases open competition and free trade.

Thus, the globalization of resource markets has resulted in the business practice of offshoring, which involves D. both an outflow as well as an inflow of jobs in the U.S.

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what economic goals does centrally planned economy address?

Answers

The economic goals that central planned economies address are to supply enough food, housing, and other basic needs to anyone and everyone in the country. It also puts priorities on mobilizing for wars.

Assume that Microsoft has no debt, a total market value of $300 billion, and a marginal tax rate of 21%. If it permanently changes its leverage from no debt by taking on new debt in the amount of 13% of its current market value, what is the present value of the tax shield it will create

Answers

The presence value of tax shield is =522,000,000

What is Tax shield?

Tax shields is calculate by substraction cash flow form two different sessions.

To determine the present value for first session

Market value = $300 billion

Tax rate = 20%

Debt = 0

Tax payable= Tax rate/100% * Market Value

Tax payable = 20/100× $300 billion

= 600,000,000

To get present value of tax

Market value = $300 billion

Tax rate = 20%

Debt = 13% of $300 billion

= 390,000,000

Present Market Value = $300 billon - 390,000,000

= 2,610,000,000 i.e $2.6billion

Tax payable = 20/100 × $2.6 billion

=522,000,000

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True or false: The many legal barriers in place around the world makes it difficult to buy securities from foreign companies.

Answers

Answer:

false

Explanation:

thanks to expanded communications and the relaxation of many legal barriers, investors can buy securities from companies anywhere in the world.

"The many legal barriers in place around the world makes it difficult to buy securities from foreign companies." Is a true statement. This is further explained below.

What is a company?

Generally, a company is simply defined as business structures such as corporations and limited liability companies (LLCs) are legal entities unto themselves.

In conclusion, "The multiple legal hurdles in existence throughout the globe makes it difficult to acquire assets from overseas corporations." Is a true statement.

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Which of the following most correctly demonstrates the opportunity cost of
choosing to live in a rural area instead of an urban area?

A. Access to farmland and open spaces

B. Access to greater choices in entertainment, food, shopping

Answers

The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices which is in terms of entertainment, food, and shopping. Thus, statement B is correct.

What do you mean by opportunity cost?

In microeconomic theory, the opportunity cost of a particular activity alternative is the loss of price or advantage that could be incurred through engaging in that activity, relative to engaging in an alternative activity providing a better return in value or advantage.

The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices in terms of entertainment, food, and shopping. Thus, statement B is correct.

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In the open-economy macroeconomic model, the market for loanable funds equates national saving with.

Answers

In the open-econony model, the market for loanable funds equates national saving with sum of domestic investment and net capital outflow.

What is an open economy?

An open-economy is an economy that allows for trade and business transactions among individuals across different countries.

It leads to linkage in economy among countries that are involved.

Therefore, In the open-econony model, the market for loanable funds equates national saving with sum of domestic investment and net capital outflow.

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Which term means the government isn't above the law?

Answers

Answer:

rule of law

Explanation:

Cash Short & Over is classified as a(n)

A. liability.
B. Temporary Account.
C. expense.
D. revenue account.

Answers

Answer:

C. expense

Explanation:

Cash Short & Over is classified as an expense account.

Which of the following is generally true about financial intermediaries?
A) Intermediaries increase the level of risk for investors.
B) Intermediaries provide information to savers and investors.
C) Intermediaries channel money from investors to savers.
D) Intermediaries are government agencies.

Answers

Answer:

B) Intermediaries provide information to savers and investors.

Explanation:

The other options are incorrect,

A) Intermediaries decrease the level of risk for investors

C) Intermediaries channel money from savers to investors

D) Intermediaries are private agencies

Alex wants to pay off his credit card balance before he gets married. he decides to take the $2,340 out of his savings and apply it to his credit card debt of $6,590. the credit card has an apr of 16.5%. what will alex's minimum monthly credit card payment be in order to pay off his debt in 14 months?

Answers

Based on the amount of credit card debt that Alex has and the APR on the credit card, his minimum payment to pay off his debt in 14 months will be $335.80 per month.

How much should Alex pay?

The balance on the credit card after Alex applies some of his savings to the debt is:

= 6,590 - 2,340

= $4,250

The minimum payment can be found using a credit card calculator where you input the balance above, the APR, the payback period of 14 months.

The minimum amount is:

= $335.80 per month

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Answer:

$335.80 x month

Explanation:

Current-year North Carolina real property taxes will be prorated at the June 26 settlement. How would the $5,645 tax bill proration be reflected on the settlement statement if a 30-day month, 360-day year is used

Answers

How the $5,645 tax bill proration will be reflected on the settlement statement if a 30-day month is: Debit seller $2,822.5; Credit buyer $2,822.5.

Tax bill proration

Based on the information given the  tax bill proration will be reflected on the settlement statement will be:

(January 1 to June 30) =180 days

Hence:

Debit seller $2,822.5

Credit buyer $2,822.5

[($5,645 ÷ 360) ×180 days]

Therefore how the $5,645 tax bill proration will be reflected on the settlement statement if a 30-day month is: Debit seller $2,822.5; Credit buyer $2,822.5.

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where does telephone and printing goes in the trial balance​

Answers

Answer:

Printing and Stationery expenses are indirect expenses. Therefore, these expenses are shown in expenses side of profit and loss account, so it will be in credit side of trial balance.

How many kanbans should circulate between two workstations if demand is 500 units per hour, lead time is 20 minutes, container sizes are 35, and the company uses a safety factor of 5%

Answers

The number of kanbans that should circulate between two workstations  is 5.

Number of kanbans

Given:

Demand=500

Lead time=20

Container size=35

Safety factor=5

Hence:

Number of kanbans=[(500×0.33) +(0.05×500)×.33)]/35

Number of kanbans=165+8.25/35

Number of kanbans=173.25

Number of kanbans=4.95

Number of kanbans=5 (Approximately)

Therefore the number of kanbans that should circulate between two workstations  is 5.

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A company that attempts to obtain money that is past due is called a.

Answers

Answer:

don't just brainly solve it with ur own brain and hands

Explanation:

not bashing ok?!

The occupational safety & health administration requires that organizations follow which guidelines for electrical safety?.

Answers

The safety and health guidelines at work focus on avoiding accidents in workers and performing optimal and adequate work.

What guidelines should an electrical worker follow?

The occupational health and safety guidelines depend on the activity to be carried out, since each set of guidelines is specifically designed to avoid accidents and contingencies in different contexts.

To guarantee safety in electrical procedures, companies must follow the following guidelines:

Wear insulating shoes and gloves.Do not have metallic accessories such as chains, earrings, bracelets, among others.Work without power supply while manipulating electrical networks.Avoid working with electricity in wet places because liquids are good conductors of electricity.Analyze the electrical network before starting, to identify the relevant procedures to be carried out.Use a helmet, gloves, overalls, goggles and other personal protection elements.

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Economic policy decisions made by governments result in both intended and
unintended consequences. Match each action to the best intended consequence.

1. Intended to protect competition
Taxation
2. Intended to protect domestic
3. Intended to collect revenue

Antitrust Law

Taxation

Tariff

Answers

1. Intended to protect competition taxation is---- taxation

2. Intended to protect domestic is ----- Antitrust Law

3. Intended to collect revenue is -----Tariff

What is economic policies?

They are policies by the government to guide the economy of a country.

The policies help to manage the flow of money within the economy to ensure there is constant flow of money.

Therefore,

Intended to protect competition taxation is Taxation Intended to protect domestic is ----- Antitrust LawIntended to collect revenue is -----Tariff

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All of the following can be classified as psychographics EXCEPT

A.
World views

B.
Emotional state

C.
Personality

D.
Opinions

Answers

Answer:

B. Emotional state

Explanation:

Marketers use this device to learn what people to target with advertisement. So they need to know A, C, and D.

what is the answer for everfi may accounts? ​

Answers

Answer:

EVERFI is helpful interactive lesson tool,

Explanation:

It empowers educators to bring real-world learning into the classroom and equip students with the skills they need for success-now and in the future.

Just out of curiosity... everyone doing okay???

Answers

Answer:

I am doing okay.

Explanation:

however, my homework is not so I’m not physically hurt but I’m annoyed at my teachers because I have 5 projects due on June 3rd or by June 3rd. I have no idea if I am going to Chicago on that day which is why I need to work with momentum.

PLEASE HELP!!!! BRAINLIEST!!!
Shannon has just been assigned as an administrative professional for the human resources team at her workplace. What type of work would her manager be MOST likely to ask her to do?

post a job opening online

collaborate on the launch of a new service offering

document a new sales strategy

coordinate the sales department’s quarterly meeting

Answers

Answer:

Human resource managers play a key role in developing an organization's culture. They facilitate communication between a company's managers and employees, helping to resolve disputes or complaints and advise executives on relevant policies for workplace conduct.

Explanation:

The Human Resource Manager will lead and direct the routine functions of the Human Resources (HR) department including hiring and interviewing staff, administering pay, benefits, and leave, and enforcing company policies and practices.

btw this is my second account

Improving quality can increase firm value because a.firms can increase costs. b.firms can increase activities. c.firms can increase customer demand. d.All of these choices are correct.

Answers

Improving quality can increase firm value because firms can increase costs, firms can increase activities, and firms can increase customer demand.

How does the firm's worth increase when quality improves?

The value of the firm increases as the quality of the firm increases, as the quality of the firm increased, the customers demand more of the goods of the firm because there is the increment in quality of products also.

The value of the firm will automatically increase as the goodwill increased, and the firm will also increase the activities because the goodwill of the firm increased and the demand for the firm's products also increased.

Therefore, option D is correct.

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Improving quality can increase firm values because firms can increase customer demand.

What do you mean by quality?

Quality refers to the standard of something that is measured against other things.

A quality improvement can increase firm value because firms can increase customer demand.

Therefore, c is the correct option.

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Toby is purchasing a $15 cake for their mother's birthday.
a. Should Toby use their debit card or credit card? (1 point)
b. Using your answer to part a, provide two reasons that support your
choice. (Make sure you use full sentences to answer the questions.) (3
points)

Answers

toby should use his debit card. he should use his debit card because it’s only 15 dollars which is not an expensive amount. using his debit card would keep the payments he has to make on his credit card lower

Use your debit card, Toby. He ought to utilize his debit card as the sum is a mere $15, which is not a large one.

What is a debit card?

Using a debit card is equivalent to submitting a check. When you use an atm card to buy an item, your checking account is instantly debited for the amount. The money actually has been taken out of your bank account, so you do not need to make any payments when you receive their own bank's periodic purchase account.

Using his debit card would result in lower credit card bills for him. A producer provides department retailers with incentives to market their goods. Financial companies establish daily purchase limitations for debit cards to hold your property. Your debit card's expense tracking cap is determined by the bank you use.

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Diluted earnings per share means that the company's profit is divided by a greater number of shares outstanding, owned by those who contributed capital, including, for example, convertible shares. High diluted EPS can mean

Answers

It is a true statement that the Diluted earnings per share means that the company's profit is divided by a greater number of shares outstanding.

What is a Diluted earnings per share?

These tool is used to calculates a company's earnings per share if all the convertible securities were converted.

However, when we have a High diluted EPS, this means that the company is too heavily diluted and the spoils of war are reduced for shareholders.

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How to write a letter of recommendation for medical school?.

Answers

To write a letter of recommendation you must first consider the structure of a formal letter.

First addressSecond addressIntroductionBodyConclusionSignature

Then consider the body you are writing as you try to depict a mental image of the person being recommended and pass that image on to the medical school. This is further explained below.

What is a letter of recommendation?

Generally, a letter of recommendation is simply defined as a letter prepared by someone who can vouch for an individual's work or academic achievements, such as a professor.

In conclusion,  In writing a letter of recommendation we trying to speak out the person's best features.

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A small restaurant wants to expand, but first it needs to raise funds. John wants to raise
capital through debt financing, but his partner, Damien, isn't sure that's a good idea. What is
one downside of debt financing that Damien could cite to prove his point to John?
O They will have to pay interest on the borrowed amount
O Shareholders will own part of their business.
O They will need to sell stock in their business.
O They will be required to repay the money immediately.

Answers

Answer:

they will have to pay interest on the borrowed amount.

Explanation:

debt finance involves an ongoing interest expense that can negatively impact cash flow in tough times .

On November 1, a company bought supplies for $200. The $200 was debited to the Supplies account. An inventory of supplies at the end of November showed that items costing $50 were on hand. The necessary adjustment will include a credit to the

Answers

The adjustment required for the supplies at the end of the month will include a credit to the Supplies account in the amount of $150 and a debit to the supplies expense account with the same amount.

What do you mean by adjusting entry?

Adjusting entries are related to journal entries which are normally made at the end of an accounting period to allocate profits and expenditure to the length wherein they truly occurred.

It refers to a fixed of journal entries recorded at the end of the accounting length to have an up-to-date and correct balance of all of the accounts.

The missing information is given here:

The necessary adjustment will include a credit to the_______________ account in the amount of $ _________(omit $/cents).

Therefore, The adjustment required for the supplies at the end of the month will include a credit to the Supplies account in the amount of $150 and a debit to the supplies expense account with the same amount.

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the second step in writing a business message is to know your
audience
purpose
ideas
facts

Answers

Answer:

The second step is to know your " purpose"

Explanation:

You need to know what you are writing the business message

Hope it helps

Emmanuel is the owner and manager of a tutoring company. He often lets his employees open the business when he has a busy morning, and he lets them record their own tutoring hours without verifying them because he trusts them fully. Emmanuel is practicing

Answers

According to the context, Emmanuel is practicing consideration with his employees.

What is consideration?

It is linked to a reflection that can be associated with an estimate or assessment.

That is implies an attitude, or rather a set of attitudes and an evaluative tendency of individuals and groups in the work context.

Therefore, we can conclude that according to the context, Emmanuel is practicing consideration with his employees.

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Most economists use the aggregate demand and aggregate supply model primarily to analyze:.

Answers

Most economists use the aggregate demand and aggregate supply model primarily to analyze short-run economic fluctuations.

What is short-run economic fluctuation?

The shifts in demands that cause fluctuation in the economy in the short-run is called short-run economic fluctuation. Aggregate demand is one of the reasons for short-run economic fluctuation.

In macroeconomics, the short run is a time period during which wages and other prices do not respond to changes in economic conditions.

Thus, the most economists use the aggregate demand and aggregate supply model primarily to analyze short-run economic fluctuations.

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Select 3 items that hurt your credit score.
Select 3 correct answer(s)
Too many inquiries
Late payments
Payments in full
Low debt
Missed payments

Answers

missed payment
too many inquiries
low dept

Answer: Too many inquiries, late payments, and missed payments

Explanation:

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