Jill Diamond bought a home for $190,000 with a down payment of $65,000. The rate of interest was 7% for 35 years. Her monthly mortgage payment is: Multiple Choice $843.75 $831.63 $798.57 $1,213.83
Q: Farrow Company reports the following annual results. Contribution Margin Income Statement Sales…
A: Relevant Cost :— It is the cost that are different in different alternatives. It is used for making…
Q: Rammazzotti, Inc., is looking for feedback on company performance. The company compares the budget…
A: Total budgeted costs includes the total cost which is to be incurred by the entity and these…
Q: A first-year co-op student is trying to determine the amount of cash and cash equivalents that…
A: Cash and cash equivalents are shown under the head ''current assets'' under the assets side of the…
Q: Determine the following for each case: The amount to be added to Allowance for Doubtful Accounts.…
A: In order to increase the sales revenue, the business organization sells their goods on a credit…
Q: Ben Brown bought a home for $225,000. He put down 20%. The mortgage is at 6 ½% for 30 years. Using…
A: Total Present Value = $225,000 Down payment = 20% EMI = P x r x [(1+r)n / (1+r)n - 1]
Q: If a credit is issued to a Vendor, how will this affect the General Ledger Account?
A: General ledger account: It implies to the main component or part of general ledger maintained by the…
Q: A $7,000, 4%, 120-day note dated March 20 is discounted on July 15. Assuming a 3% discount rate, the…
A: Answer The value of an notes payable = $7000 + ( $7000 × 4% × 120/360) $7093.33 Total…
Q: Larson Stores owns a small retail outlet in a California coastal town. In the last few years, a…
A: Recoverable cost of the asset is the higher of value in use and fair value less cost to disposal.
Q: 2021 2020 2019 2018 2017 Sales $ 489,967 $ 322,347 $ 256,850 $ 180,880 $ 136,000 Cost of goods sold…
A: Trend percent is a method of expressing the financial figures of one accounting period as a…
Q: Required information ($ thousands) Net sales Cost of goods sold Current Year $ 885,182 396,513…
A: A trend Percentage, commonly referred to as an "index number," can be used to compare financial data…
Q: (780) (390) Computer equipment 19,600 19,600 Accumulated depreciation—Computer equipment (2,320)…
A: Cash flow statement includes: 1.Cash flows from operating activities 2.Cash flows from investing…
Q: The difference between the monthly payments on a $120,000 mortgage at 6 ½% and at 8% for 25 years…
A: EMI = [P x r x (1+r)n / (1+r)n - 1] Present Value = $120,000 Time period = 25 years or 300 months
Q: Aloha Co. received the following note: Face amount P 1,000,000…
A: When we receive lump sum amount after some years, we used to record income on year basis. To record…
Q: Dunbrook Travel, Inc. acquired an 80% interest in Ocean Cruises on December 31 for $970,000.…
A: In relation to its investment, return on investment is a proportion of net income. It is a…
Q: Rios Company makes drones and uses the variable cost method in setting product price. Its costs for…
A: Cost volume profit analysis is the technique used by management for decision-making. The methods…
Q: Windsor Company has gathered the following information: Variable manufacturing overhead costs Fixed…
A: The question is based on the concept of Cost Accounting. Predetermined overhead rate can be…
Q: Exercise 1: Earnings per share (EPS-DEPS) The following information corresponds to the Rogue…
A: The earnings available to shareholders =Net income- Tax(30% of Net income) - Preference Dividend…
Q: PLEASE ANSWER ASAP. DO NOT USE EXCEL The HO ships merchandise to the branch at 50% above cost. On…
A: Given Information: Beginning Inventory = P15,000 Shipments from HO = P110,000 Ending Inventory =…
Q: and Sualihu, whose shares of profits and losses are in the ratio of 4:5:1, respectively is as…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: The following data regarding purchases and sales of a commodity were taken from the related…
A: Inventory can be valued using various methods -First-in First-Out Method - Under the First-in…
Q: Sales Expenses Avoidable Unavoidable Total expenses Income (loss) partment partment M partment N…
A: An avoidable cost is a cost that shall incur only when such activities are happened or vice versa.
Q: Week 1 Statement Matching Amortization Accounts Payable Cash Receipts Land Net Cash Depreciation…
A: Financial statements: The financial statements consist set of statements. The three statements in…
Q: Health-Temp Company is a placement agency for temporary nurses. It serves hospitals and clinics…
A: Break-even point: It is the point at which the company covers its variable cost only. At this…
Q: The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall…
A: Ratio Analysis -The ratio is the technique used by the prospective investor or an individual or…
Q: Chapter 17 Homework PR 17-4A Measures of liquidity, solvency, and profitability The comparative…
A: The Time Interest Earned of a corporation reveals its capacity for debt repayment. A higher Time…
Q: Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in…
A: In this question, we need to prepare statement of cash flows under indirect method for the year…
Q: synthetic motor oil. During May, the company produced 5,000 cases of lubricant. Each case contains…
A: Material price variance = Actual quantity* (Standard price - Actual price)
Q: Which of the following would be an example of a research and development expenditure eligible for…
A: Explanation : Research and development (R&D) expenses are associated directly with the research…
Q: Find the adjusted balance (principal) using the U.S. Rule (360 day) after the first payment
A: (Important Assumption: Since question does not mention the method of interest, it is assumed that it…
Q: 1. Create a two way variance analysis 1. Price variance favorable or unfavorable 2. Quantity…
A: Requirement:-1 Calculation of Raw Material Quantity Variance Raw material quantity variance =…
Q: is affect the General Ledger Account?
A: When a credit is issued to a customer, the invoice value reduces and the amount due from the…
Q: everly Frost bought a home for $190,000 with a down payment of $19,000 at 7% for 25 years. Since…
A: Monthly payment = [P x R x (1+R)N]/[(1+R)N-1], Here, P = loan amount or principal = 190000 -…
Q: What is compare and contrast
A: The concept of comparing and contrasting on associated with looking at two things in order to…
Q: Wales, Henry Windsor and Catherine Wales, William's wife, as a partnership. REQUIRED: a. What are…
A: There are many type of business that include partnership form of business, Company and sole…
Q: The following events were completed by Dana's Imports in September, Year t Sept. 1 Acquired $50,000…
A: Working: on 9/10 Cash = (28000-600)*.98 = $ 26,852 Inventory = (28000-600)*.02 = $ 548…
Q: On March 12, Bill Jones accepted a $12,000 note in granting a time extension of a bill for goods…
A: Answer Correct option is = 2 nd option = $12163 Explanation : Maturity value on notes =…
Q: On December 1, Gary Walker began an auto repair shop, Walker's Quality Automotive. The following…
A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…
Q: You will perform the roles of a Management Consultant and Financial Analyst, whose main task is…
A: As a Management Consultant, you will be responsible for providing strategic advice and direction to…
Q: In order to "roll over" Latin America's high external debts, international lenders like the IMF (the…
A: During the high debt crisis in the United States, IMF and World bank decided to manage these on…
Q: On Jan. 1, Year 1, Foxcroft Inc. issued 120 bonds with a face value of $1,020 for $126,300. The…
A: JOURNAL ENTRIES Journal entries is the Process of Recording all Financial & Non Financial…
Q: Sabik Corporation has 10.500 shares of 8%. $50 par value, cumulative preferred stock outstan as well…
A: Annual preferred dividend is based on number of preferred shares and par value and dividend…
Q: Metlock Company began operations in 2019 and determined its ending inventory at cost and at…
A: ACCOUNTING STANDARDS - 2 Objective of this standard is to formulate the method of computation of…
Q: home depot doing well in inventor turnover ratios and net
A: Inventory is very important in the business and maintaining proper inventory and optimum inventory…
Q: You are doing great in your new business and all of your suggestions so far have been implemented.…
A: Balance scorecard approach consists four perspectives: 1.Financial perspective: To succed…
Q: ufacturing overhead costs cturing overhead costs ction level in labour hours our hours $12,150…
A: Answer :1. Fixed predetermined overhead rate Fixed predetermined overhead rate = Budgeted fixed…
Q: Following is a table for the present value of $1 at compound interest: Year 6% 10% 1 0.943 0.909 2…
A: Information is given in the question: The amount received at the end of each year is 7,414 Amount…
Q: Dick Hercher bought a home in Homewood, Illinois, for $230,000. He put down 20% and obtained a…
A: Total Present Value = $230,000 Down payment = 20% Present Value of Loan = $230,000 - 20% = $184,000…
Q: A revenue agent determined that Ms. Osaka underpaid income tax by $48,100 and concluded that $9,200…
A: Introduction:- The following basic information as follows:- A revenue agent determined that Ms.…
Q: d amount of depreciation on equipment for the current year is $6,550. Journalize the adjusting entry…
A: The depreciation is the decrease in the value of assets due to the use of equipment and decrease in…
Q: Ute Company reported the following capital structure during the current year: 5% cumulative…
A: Answer:- Basic earning per share:- Investors can learn how much of a company's net income was…
Jill Diamond bought a home for $190,000 with a down payment of $65,000. The rate of interest was 7% for 35 years. Her monthly mortgage payment is:
-
$843.75
-
$831.63
-
$798.57
-
$1,213.83
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
- Marsha Terban bought a home for $119,000 with a down payment of $19,000. Her rate of interest is 12 1/2% for 35 years. The balance of the mortgage at the end of the first month is: Multiple Choice $117,744.25 $118,983.83 $99,669.76 $99,986.42Nate bought a home for $143,000 with a down payment of $15,000. Nate's rate of interest is 6.75% for 20 years. Calculate his: A. Monthly payment Note: Round your answer to the nearest cent. B. First payment broken down into interest and principal Note: Round your "Principal" answer to the nearest cent. C. Balance of mortgage at end of month Note: Round your answer to the nearest cent.Darlene Ramirez bought a home for $140,000. She put 20% down and financed the rest with a 20 year 3.5% mortgage. The total of her monthly payments for a year are: Multiple Choice $649.55 $7,794.60 $9,743.28 $9,329.61
- Ms. Tamper bought a house for $180,000. She put 20% down and obtained a mortgage loan for the balance at 4 1/4% for 30 years. a. Find the monthly payment. b. Find the total interest paid.Loretta bought a home for $210,000 with a down payment of $30,000. Her rate of interest is 5 5/8% for 15 years. Calculate Loretta's payment per $1000 and her monthly mortgage payment. Round "payment per $1,000" to five decimal places. Round "monthly mortgage payment " to the nearest cent.Ben Brown bought a home for $225,000. He put down 20%. The mortgage is at 6 ½% for 30 years. Using the formula or calculator, his monthly payment is: Multiple Choice $1,422.15 $1,319.40 $1,216.80 $1,137.72
- Loretta Scholten bought a home for $210,000 with a down payment of $30,000. Her rate of interest is 6% for 35 years. Calculate Loretta’s monthly mortgage payment. (Round your answer to the nearest cent.)Delilah is paying $0.40 per $100 on her $210,000 home in homeowners' insurance annually. If her annual homeowners' insurance premium is divided into twelve equal monthly installments to be included on each of her monthly mortgage payments of S1033.00, what is Delilah's total monthly payment? a.$1.873 b.$1,103 C.$840 d. $70Chin Woo bought a home for $160,000. He put down 20%. The mortgage is at 8 1/2% for 25 years. What is the total of his monthly payments for one year? Multiple Choice $1,030.69 $12,368.28 $15,460.32 $1,288.36
- Chris has taken a 20-year, $250,000 mortgage on her house at an interest rate of 6% per year. What is the remaining balance of the mortgage after the fifth monthly payment? Multiple Choice $247,267 $211,690 $250,000Anna is buying a house selling for $235,000. To obtain the mortgage, Anna is required to make a 15% down payment. Anna obtains a 25-year mortgage with an interest rate of 5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest Number of Years Rate_% 10 15 20 25 303.0 $9.65067 $6.90582 $5.54598 $4.74211 $4.216043.5 9.88859 7.14883 5.79960 5.00624 4.490454.0 10.12451 7.39688 6.05980 5.27837 4.774154.5 10.36384 7.64993 6.32649 5.55832 5.066855.0 10.60655 7.90794 6.59956 5.84590 5.368225.5 10.85263 8.17083 6.87887 6.14087 5.677896.0 11.10205 8.43857 7.16431 6.44301 5.995516.5 11.35480 8.71107 7.45573 6.75207 6.320687.0 11.61085 8.98828 7.75299 7.06779 6.653027.5 11.87018 9.27012 8.05593 7.38991 6.992158.0 12.13276 9.55652 8.36440 7.71816 7.337658.5 12.39857 9.84740 8.67823 8.05227 7.689139.0 12.66758 10.14267 8.99726 8.39196 8.046239.5…Kristina has a mortgage of $575,000 through her bank for property purchased. The loan is repaid by end of month payments of $4,182.71 with an interest rate of 6.96% compounded monthly over 23 years. What is the interest included in the 39th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. %24
