Business, 07.04.2020 04:55 jaycobgarciavis

MMS Corp borrows $1,650,000 today for a new building. The loan is an equal principal payment loan with an APR of 6.5% compounded monthly. Payments are due monthly and the term of the loan is 9 years.

The current portion of debt in month 16 is?

Answers: 1

Show answers

Answers

Answer from: josiahespinosa

The current portion of debt in month 16 is $1461958.53

Explanation:

From the questions given, we thus find the current portion of debt in month 16

The first step to take is to calculate the monthly payment

The Loan /borrowed Amount = $1650 000

The Interest Rate (r) = 6.5/12

rate is monthly compounded , so the annual Percentage rate of Interest must be divided by 12

The Period (N) = 9 years x 12 = 108 months

The formula for Monthly Payments is:

= (r)Loan Amount/(1 -(1 + r)^-n)

Monthly Payments = (0.065/12)1650 000/ (1 - (1 + 0.065/12)^-108)

Monthly Payments = 8937.49989/0.4420139495

Monthly Payments = 20219.949846

MMS Corp would pay this amount $20219.949846 for the loan.

In getting the actual answer, we will not round of this answer, we then calculate Loan Balance (current portion of debt in 16 months’ time)

The Loan Balance (current portion of debt in 16 months’ time)

The formula for Loan Future is :

Loan Amount (1 + r)^n

Then,

The Value of Monthly Payments = Payments ((1 + r)^n - 1)/r

The Current Porting of debt = Loan Amount (1 + r)^n - Payments ((1 + r)^n - 1)/r

Current Porting of debt = 1650 000(1 + 0.065/12)^16 - 20219.949846((1 + 0.065/12)^16 - 1/(0.065/12)

The Current Portion of debt in month 16 is

So,

Current Porting of debt = 1798958.8403 - 337000.31512

Current Porting of debt = 1461958.5252

Therefore, The Current Portion of debt in month 16 is $1461958.53

Answer from: Quest

i think this is true i hope this

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

Another question on Business

Business, 22.06.2019 21:30

China white was the black market selling of ivory, in which the profit was redistributed back into the trafficking of heroin.

Answers: 3

Answer

Business, 22.06.2019 23:00

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is:

Answers: 1

Answer

Business, 23.06.2019 15:00

At fenway park, home of the boston red sox, seating is limited to 38,000. hence, the number of tickets issued is fixed at that figure. the following graph shows the demand and supply for red sox tickets. use the graph input tool to you answer the following questions. you will not be graded on any changes you make to this graph. 0 38 76 100 90 80 70 60 50 40 30 20 10 0 price of tickets quantity of tickets (thousands) demand supply graph input tool market for tickets price 10 quantity demanded (thousands of tickets) 68 quantity supplied (thousands of tickets) 38 tax on buyers 0.00 seeing a golden opportunity to raise revenue, the city of boston levies a per ticket tax of $5 to be paid by the ticket buyer. boston sports fans, a famously civic-minded lot, send in the $5 per ticket. true or false: the entire tax burden falls on the teamâ€™s owners because supply is perfectly inelastic. true false

Answers: 3

Answer

Business, 23.06.2019 18:00

What effect does a rise in income have on demand? increases demand for normal goods decreases demand for normal goods increased prices on goods decreased prices on goods

Answers: 1

Answer

You know the right answer?

MMS Corp borrows $1,650,000 today for a new building. The loan is an equal principal payment loan wi...

Questions