You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest)
Loan amount $989,000
Interest Rate 11. 7%
Life 48 years
Date of Loan January 1, 2021
1. What is the annual payment (round to the nearest $)?
2. What are the total interest payments (round to the nearest $)?
3. After 28 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?
4. After 28 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)
5. What is the annual payment (round to the nearest $)?
6. What are the total interest payments (round to the nearest $)?
After 28 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?
8. After 28 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)?
Answers
The percentage of total interest paid after 28 payments is 69%, and the percentage of total principal paid after 28 payments is 10%.
Calculations of a Loan Annual Payment and Total Interest PaymentsNote: Only questions 1 to 4 are relevant as questions 6 to8 are just repetitions of questions 1 to 4 respectively.
Also Note: See the attached photo for the loan amortization schedule for the self-liquidating installment loan.
From the attached photo, we can answer the questions as follows:
1. Annual payment = $116,287
2. Total interest payments = Total of interest = $4,592,780
3. Percentage of total interest paid after 28 payments = Cumulative interest payment at Year 28 / Total interest payments = $3,152,232 / $4,592,780 = 0.69, or 69%
4. Percentage of total principal paid after 28 payments = Cumulative annual principal at Year 28 / Total principal payments = $103,806 / $989,000 = 0.10, or 10%
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Related Questions
Which is an example of non-tradable good or service.
Vegetables
Soda
Hotel accommodation
Textiles
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A typical example of a non-tradable good or service is; Hotel accomodation.
What are non-transferable goods and services?Traditionally, non-tradable goods include such items as electricity, water supply, all public services, hotel accommodation, real estate, construction, local transportation; goods with very high transportation costs such as gravel; and commodities characteristically produced to meet special customs or conditions of the market space.
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To create strong partnering relationships, marketing channel members must develop mutual trust, openly communicate, have common goals, recognize the benefits of interdependence, and:.
Answers
It is important that members of marketing channel develop the willingness to invest in each other's success to create strong partnering relationships.
Who are members of marketing channel?In a marketing channel, these member are the individuals that help the producer to channel their products to consumers.
The members of marketing channel includes a wholesales, retailers, agent etc.
In conclusion, these member must always be willing to invest in each other's success to create strong partnering relationships.
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Marketing is the activities, sets of institutions, and processes that add blank______ for customers.
Answers
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers.
What is marketing?Marketing can be defined as the process of creating product awareness about a product so as to attract potentials customers.
Marketing is important as it help to increase sales which is why most companies tend to often employee a marketing manager that will help in markerting the company products.
Inconclusion Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings.
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What is collateral?
•
a type of unsecured credit
O property given as security for a loan
funds borrowed to buy property
a payment to reduce overall debt
Answers
A collateral is a property given as security for a loan. Thus, the correct answer is option B.
What is a collateral?A valuable asset that a borrower offers as collateral for a loan is known as collateral in the financial industry.
The house is used as collateral for the financing when a home buyer gets a mortgage. The automobile is the security for a car loan. When a company seeks bank financing, it may use valuable assets like real estate or machinery as collateral for the loan.
An unsecured loan has a higher interest rate than one that is backed by collateral. If there is a default, the lender has the right to transfer the collateral to make up the difference.
Therefore, property given as security for a loan is a collateral
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Northeastern Health is a regional medical center. They tie pricing of services and profits to specific services in the medical center. Northeastern Health uses a __________ control system. Group of answer choices feedforward clan market bureaucratic concurrent
Answers
Northeastern Health, as a regional medical center that ties pricing to specific services, uses a market control system.
What is a market control system?A market control system is a system that an entity's management uses to identify performance deviations in order to institute corrective measures for goal achievement.
Some of the market control systems include:
Annual plan controlProfitability controlEfficiency control Strategic control.Thus, Northeastern Health, as a regional medical center that ties pricing to specific services, uses a market control system.
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Which is a formatting characteristic of a full-block business letter?.
Answers
Answer:
In a full block business letter, every component of the letter heading, address, salutation, body, salutation, signature, identification, enclosures is aligned to the left. Also first sentences of paragraphs are not indented.
Explanation:
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Nathan calculated his company’s economic order quantity and categorized all production costs. One cost was related to the cost of storing milk in the freezers, and another cost was related to the insurance expenses that covered the company’s inventory. To which cost category would Nathan assign these costs?
Answers
The cost category which Nathan would put the insurance expenses is in the fixed cost per order.
What is Production Cost?This refers to the sum total of all the costs which a company has when producing a good or service.
Hence, in this case, because Nathan is making calculations of the company’s economic order quantity and he has to make a category of the production costs, he would have to put the insurance expenses is in the fixed cost per order.
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Straight-line, declining-balance, and activity-based refer to methods commonly used to.
Answers
Answer:
depreciate
Explanation:
Straight-line, declining-balance, and activity-based refer to methods commonly used to _depreciate_ property, plant, and equipment.
Answer:
depreciate
Explanation:
Straight-line, declining-balance, and activity-based refer to methods commonly used to .... depreciate... property, plant, and equipment.
Fidelity investments is one of the largest mutual fund and brokerage services providers worldwide. it has various offices in cities across the united states. in each office customer, contact personnel have a well-groomed, professional appearance. the inside of the office is clean and attractive. these visible cues are an attempt to deal with the problem of _______ common to service organizations
Answers
These visible cues are an attempt to deal with the problem of trust common to service organizations. Hence, the purpose of these cues is to generate much trust from the customers.
Common Customer Service ProblemsThe following are the common customer service problems encountered by the customers:
Long time in responseImpatience on the part of the Customer representative to Listen to the Needs of the customerCustomer Transfer from one department to anotherRudeness on the part of Customer Service agent towards the ClientsInability to offer a solution to the CustomerInability of the Customer Service agent to fulfil Promises.Therefore, these cues are in place to earn trust from the customers.
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What are the sales dollars required to attain a target profit of $120,000?.
Answers
The sales dollars required to attain a target profit of $120,000 is $400,000.
What are profits?The profits are the financial gains earned by a business or organization after all expenses and costs are deducted from the revenue generated from its operations.
The profits are what is left over when a business subtracts all of its costs, including the cost of goods sold, operating expenses, taxes, and other expenses, from its total revenue.
A business that earns high profits is generally seen as successful, while a business that consistently incurs losses is considered to be struggling. It is a key measure of a company's financial performance and are an important indicator of its ability to generate income.
For attaining a target profit of $120,000, the sales dollars required is $400,000.
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A company’s _____ specifies the media vehicles to be used and the schedule for running advertisements.
Answers
The factor that specifies the media vehicles and methods to be used by a company to run advertisements is it's media plan.
What is a media plan?This refers to a structured plan that a company comes up with and implements in order to meet their marketing goals.
It involves things like the schedules of adverts to be run, the media vehicles to be engaged, and the type of content that would be most effective.
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Years ago, American Express created the Gold Card for affluent customers. In response to recent declines, AmEx has decided to enhance the benefits of having a Gold Card by increasing the rewards and offering personalized services. This is an example of:
Answers
Based on the given scenario with Amex enhancing the benefits of having a Gold Card, this is an example of invention.
What is Invention?This refers to the creation of new things with the aim of making a process easier that has not been done before.
Hence, we can see that based on the changes made by American Express in their Gold Card for their affluent customers and the increased benefits, this is an example of an invention.
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Bell's product manager continues to perform well in the market. However, a competing product is coming on strong and is looking to take over as the market share leader in the segment. Without sacrificing contribution margin, what can the Bell product manager do in order to improve upon the buying criteria, and thus potentially increase demand
Answers
Bell product manager can increase the promotion budget to gain greater awareness in order to improve upon the buying criteria, and thus potentially increase demand.
What is promotion budget?A promotional budget is a specified amount of money set aside to promote the products or beliefs of a business or organization.
Promotional budgets are created to anticipate the essential costs associated with growing a business or maintaining a brand name.
Hence, Bell product manager can increase the promotion budget to gain greater awareness in order to improve upon the buying criteria, and thus potentially increase demand.
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Economists have determined that the economy goes through a cycle of
growth and decline how often?
O A. Every 80-95 years
O B. Every 6-10 years
O C. Every 25-31 years
O D. Every 54-60 years
Answers
Economists have determined that the economy goes through a cycle of growth and decline Every 25-31 years. Thus the correct option is C.
What is the economy?The economy of any country is determined by the ratio of production and consumption that takes place within a year and evaluates the flow of funds in the market by analyzing the purchasing parity of an individual.
The economic cycle is ditributed into four stages in which there are stages as expansion, peak, contraction, and trough which indicate the status of the economy in the country.
According to economists, the economy has cycles of expansion and falls every 25–31 years. This is dependent on both the development of technology and the rise in the income of an individual.
Therefore, option C Every 25-31 years is appropriate.
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In the simple deposit expansion model, if the fed purchases $100 worth of bonds from a bank that previously had no excess reserves, deposits in the banking system can potentially increase by:.
Answers
Assuming the bank that previously had no excess reserves, deposits in the banking system can potentially increase by: $100 times the reciprocal of the required reserve ratio.
What is required reserve ratio?
Required reserve ratio can be defined as the part of deposit that is expected of a bank to have as a reserves.
Based on the given information if the fed purchases $100 worth of bonds from a bank that had no excess reserves the deposit will tend to increase by $100 mutilply by the required reserve ratio.
Inconclusion the deposit will increase by $100 times the reciprocal of the required reserve ratio.
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Give examples of how globalization
can help you.
Answers
Answer:
Globalization can help you if you are living in an underdeveloped nation that is being used for abundant affordable labor. Before globalization, these nations wouldn't have had these companies come in and exploit child labor, but after globalization it is common place.
Without globalization, American politicians wouldn't have the convienent scapegoats they currently do when it comes to outsourcing and illegal immigrants. Without globalization, conservative politicians would actually have to solve problems, rather than blame everything on the most vulnerable among us.
Explanation:
____ was one of the founders of Apple in 1976, but was pushed out of the company in the mid 1980s. He later returned in 1996 and helped to rebuild a nearly bankrupt Apple.
Answers
Stephen Gary Wozniak was one of the founders of Apple in 1976, but was pushed out of the company in the mid 1980s.
What is Apple?Apple company is as an American company that specialize in technology.
They produce consumer electronics and software such as laptop and phones.
Therefore, Stephen Gary Wozniak was one of the founders of Apple in 1976, but was pushed out of the company in the mid 1980s.
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Sometimes a pay rate is raised or lowered to compensate for specific working conditions (such as working the night shift) or labor markets (such as living in a high-rent location). These adjustments are called
Answers
The adjustment of raising a pay rate or lowering it to compensate for specific working conditions are called pay differentials.
What is a pay rate?The pay rate represents the average amount that laborers are paid per period.
The pay period may be an hour, a day, a week, etc.
The pay rate is multiplied by the pay period worked by a laborer to compute the total earnings.
Thus, the adjustment of raising a pay rate or lowering it to compensate for specific working conditions are called pay differentials.
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Your manager has been asked to speak to a community group about an upcoming development project that will be demolishing an old mall and building a mixed-use space with apartments, retail, and office space—a topic that has created some controversy in the community. She’s asked for your help in putting together her presentation. Do you think that a live or virtual presentation would be most effective? Why? What types of multimedia elements do you think would be most engaging? Why?
Answers
A live presentation would be more effective, as it generates more direct communication with the audience, which can increase empathy and persuasion about the topic.
How to create an effective presentation?It is essential that the speaker prepares himself in advance, to build a consistent and reliable argument, which manages to retain the attention of the spectators.
The use of multimedia elements, such as demonstration videos and slides can be positive to engage the public and generate greater objectivity on the subject.
Therefore, it is essential that in a presentation, the speaker uses elements that help to reduce resistance, such as an explanation of the benefits of an action, to create greater adherence to the proposed ideas.
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What must owners of agricultural land do each year in order for it to qualify for protection under the Green Belt Law
Answers
In order for the land to qualify for the green belt law, it has to be used primarily for the sake of agriculture or good faith commercial agricultural purposes.
What is the Green Belt law?This is an exemption that is given to land owners in the state of Florida if the land is used for the bona fide purpose of agriculture.
The law has it that the land owner applies for classification if they want the law applicable to them.
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Careers in the ______________ cluster work from two different angles: the arts, a/v technology, and communication pathway creates things for the public to see, read, or play, while the information technology pathway focuses on using technology to wade through information or to keep information flowing to the public.
A. Health Sciences
B. Communications and Information
C. Agriculture, Food, and Natural Resources
D. Engineering, Manufacturing, and Technology
(CAREER)
Answers
If the cost of electricity doubles in the area where the Morgans live, which of the following is most likely to be
true?
A. It would be more advantageous for them to wash clothes at home and dry them at the laundromat.
B. It would be more advantageous for them to buy a washer and dryer to save money.
C. It would probably make no difference because the laundromat is likely to increase its prices to cover
increased costs.
D. It would be even more advantageous for them to use the laundromat rather than have a washer and
dryer at home.
5 of 10
Answers
If the cost of electricity doubles in the area where the Morgans live, It would probably make no difference because the laundromat is likely to increase its prices to cover increased costs. Option C. This is further explained below.
What is Pricing?Generally, Decide the payment amount for the service (something offered for sale).
In conclusion, Even if the price of power doubles where the Morgans reside, the laundromat's pricing will almost certainly rise to match the higher expenses.
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Click this link to view o*net’s work styles section for helpers—production workers. note that common work styles are listed toward the top and less common work styles are listed toward the bottom. according to o*net, what are some common work styles needed by helpers—production workers? select four options.
staffing/hiring
dependability
adaptability/flexibility
attention to detail
language
cooperation
Answers
Answer:
2,3,4,6 dependability, adaptability/felxibility, attention to detail, cooperation.
Explanation:
I did it and got it right
The common work styles needed by helpers—production workers are dependability, adaptability/flexibility, attention to detail and cooperation.
Production employees are skilled personnel that maintain production by monitoring machinery to ensure product quality. They work on an assembly line, maintaining and cleaning factory machinery, and carefully assembling products in compliance with all safety regulations.
In factories, production workers create and put together goods. They run and maintain the equipment, guarantee that manufacturing requirements are maintained, finish the items, and get them ready for shipping.
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Currently the FTC and industry leaders are discussing measures to curb robocalls, or the use of autodialers to deliver a prerecorded message, further impeding the use of
Answers
There will be an impediment of telemarketing when industry leaders are discussing various measures to curb a robocalls or autodialers to deliver a prerecorded message.
What is an telemarketing?It is a form of direct marketing because network promotes a goods or services to potential customers over the telephone or through the Internet.
In conclusion, because the industry leaders are discussing various measures to curb a robocalls or autodialers to deliver a prerecorded message, then, there will be an impediment of telemarketing.
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If a firm in a perfectly competitive market triples the quantity of output sold, then total revenue will:.
Answers
If a firm in a perfectly competitive market triples the quantity of output sold, then total revenue will: exactly triple.
What is a perfect competitive market?A Perfect competitive market is a type of market that has different manaufacturers which sell product that are slightly the same and the price of those product are also slightly the same.
Their is competition in this type of market based on the fact that each producer compete against one another.
Inconclusion If a firm in a perfectly competitive market triples the quantity of output sold, then total revenue will tripple the same.
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Hi!
1) What is contrct of partnership deed ?
Answers
Answer:
Partnership Deed
Explanation:
A Partnership Agreement is a contract between two or more business partners. The partners use the agreement to outline their rights responsibilities, and profit and loss distribution. The agreement also sets the general partnership rules, like withdrawals, capital contributions, and financial reporting.
You have $55,000 in a savings account that pays 2% interest per year.
The inflation rate that year is 3.24%.
To calculate simple interest: Principal x Rate x Time = Interest
How much do you make in interest in a year?
Answers
Answer:
1. the interest make in a year is $1100
2. the spending power need to make to keep up with inflation in that year is $1782.
3. the buying power lose in that year because of inflation is $682. the buying power lose in that year because of inflation is $682.
Explanation:
In a savings account, amount $55,000 which pays 2% interest each year and the rate of inflation is 3.24% gives,
1.The interest make in a year is $1100
2. Spending power need to make to keep up with inflation in that year is $1782.
3. Buying power lose in that year because of inflation is $682
1. the interest make in a year is $1100
2. the spending power need to make to keep up with inflation in that year is $1782.
3. the buying power lose in that year because of inflation is $682. the buying power lose in that year because of inflation is $682.
Duncan is creating records for inventory products in QuickBooks Online. Which field will he fill in that is not used for noninventory products
Answers
The field that Duncan is not going to have to fill that is not used for non inventory products would be all of the options in the question.
What is inventory?This is a term that has to do with the stock of goods that a company or a business has.
The purpose of the inventory is in oerder for the business to resale the stock. All of the options in the question are used for inventory.
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How does information technology impact the economic sector?
Answers
Answer:
~ᴛᴇᴄʜɴᴏʟᴏɢɪᴄᴀʟ ᴘʀᴏɢʀᴇꜱꜱ ᴀʟʟᴏᴡꜱ ꜰᴏʀ ᴛʜᴇ ᴍᴏʀᴇ ᴇꜰꜰɪᴄɪᴇɴᴛ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴏꜰ ᴍᴏʀᴇ ᴀɴᴅ ʙᴇᴛᴛᴇʀ ɢᴏᴏᴅꜱ ᴀɴᴅ ꜱᴇʀᴠɪᴄᴇꜱ, ᴡʜɪᴄʜ ɪꜱ ᴡʜᴀᴛ ᴘʀᴏꜱᴘᴇʀɪᴛʏ ᴅᴇᴘᴇɴᴅꜱ ᴏɴ.
Explanation:
ᴍᴀɢᴀɴᴅᴀɴɢ ᴛᴀɴɢʜᴀʟɪ ꜱᴀ ᴀᴛɪɴɢ ʟᴀʜᴀᴛ!!!
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Which of the following best describes the purpose of making an investment?
O A. To have control over economic activity
B. To increase profits by paying higher wages
O c. To use money to make more money
O D. To keep the money supply growing
Answers
Answer:
C. to use money to make more money
Explanation:
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