Homework Answers
22
| Monthly payment | = | [P * R * (1+R)^N ] / [(1+R)^N -1] | |
| Using the formula: | |||
| Loan amount | P | 330,000.00 | |
| Rate of interest per period: | |||
| Annual rate of interest | 3.500% | ||
| Frequency of payment | = | Once in 1 month period | |
| Numer of payments in a year | = | 12/1 = | 12 |
| Rate of interest per period | R | 0.035 /12 = | 0.2917% |
| Total number of payments: | |||
| Frequency of payment | = | Once in 1 month period | |
| Number of years of loan repayment | = | 30 | |
| Total number of payments | N | 30*12 = | 360 |
| Period payment using the formula | = | [ 330000*0.00292*(1+0.00292)^360] / [(1+0.00292 ^360 -1] | |
| Monthly payment | = | 1,481.85 |
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question#22
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increase to the assets.
I only need help with #'s 27-39
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Consider the monthly data, including the estimates for March
2020, and the information in the articles. Which of the following
is the best analysis of and prediction for the money market in the
U.S. economy for the next few months?
a.
Shortages are causing panic buying by households, which has
increased money demand. Lenders are increasing their lending to
keep up with the needs of households and businesses. Money demand
is increasing more than money supply.
b.
Shortages...
I
had a question about Step 5-9. I already completed the general
journal with the entries into the general ledger. Now I need help
creating the adjusted trial balance, I cant get it to equal to
$20,743. Also, I need help completing the financial statements:
income statements, statement of owners equity, and a balance sheet.
*Net Income has to equal $1024 and total assets has to equal
$18,354.
The
question is how can I balance out my adjusted trial balance...
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