A 54-unit apartment building in Canton, Ohio was financed with a $10,000,000 30-year fully amortizing fixed rate mortgage loan at an annual interest rate of 4.5% payable monthly and with no loan lockout or prepayment penalties. If the borrower wanted to pay the loan back after 8 years, what would be the payoff amount? a. $7,333,333 b. $8,008,942 c. $8,481,705 d. $8,913,848
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- Subject:- financeYou deposit $6,000 in an account earning 2% interest compounded monthly. How much will you have in the account in 10 years?If you have the following information Discounted Cash Flow Year Cash Flow Discounted Cash Flow 0 $ - 22 million 1 $2 million 2 $2 million 3 $8 million 4 $8million 5 $12 million The discount rate is % 5 Calculate the NPV
- Kayla took out an amortized loan of $240,000 with a 5% interest rate. Her monthly payment is $1,288.37. How much will she pay in interest on her first monthly payment? $1.200 $1.150 $1.000 $900The company uses the allowance method to account for uncollectible receivables. Allowance for doubtful account had 1.500 TL credit balance and account receivable account had 12.000 TL debit balance at the beginning of year. During the year bad debt expense was recorded for 2.000 TL and wrote off bad receivables for 2.500. a. what is the balance of allowance for doubtful account at the year - end? b. what is the net realizable value of account receivable at the vear - end?Paul is the owner of a sport store that specialises in extreme sports such as paragliding and wakeboarding. To entice customers to spend more he has recently launched store credit, subject to approval. Which one of the following is a cost of granting credit that Paul must be aware of? Select one: a. Loss of interest b. Insurance cost c. The loss of customer goodwill d. Loss of flexibility
- What information is contained in a payoff table?You are a corn producer. Today, May 1, you have planted corn and you expect a crop of over 1,500,000 bushels. You would like to sell the crop soon after the October harvest. You are fairly certain that prices are heading down, so you want to lock in a price for December delivery. The performance bond deposit of $1,000.00 per contract and possible performance bond calls will not cause you a cash-flow problem. You decide to sell three hundred December corn futures contracts (5,000 bushels each, or 1,500,000 bushels). The December futures price today is $5.6125 and the local forward cash for December is $5.2125. Brokerage fees for each contract is $25.00 round-turn. In December, futures prices have fallen to $5.6000 and cash prices to $5.2000. Date Cash Market Futures Market Basis May December Results In May do you take a long or short position in the futures market? In December, what do you do in the futures market?…In a subprime loan, interest rates are: equal to prime loan rates unrelated to a borrower's credit score higher than prime loan rates lower than prime loan rates
- The buyer and seller are scheduled to close the sales transaction on Wednesday, June 14. The taxes for the year were $3,500 and were paid in arrears. How would this appear on a closing statement? O A credit and debit to the seller. O A credit to the buyer and a debit to the seller. O A credit to the seller and a debit to the buver. • A credit and debit to the buyer.Describe 3 criteria of the 13 minimum standards on which plan status is determined to qualify retirement plans for preferential tax treatmentA property's annual property taxes equaled $7,560. The seller owes the buyer for 20 days of prorated property taxes. Using the 360-day calendar, how much does the seller owe the buyer? $420 $1,950 $360 $2,100