You need a 20-year, fixed-rate mortgage to buy a new home for $210,000. Your mortgage bank will lend you the money at a 6.1 percent APR for this 240-month loan. However, you can afford monthly payments of only $950, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $950? Multiple Choice $78,459.69 $64,420.48 $275,535.18 $264,937.67 $256,989.54

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A: Consistency: Consistency principle emphasizes that companies should adhere to same accounting…

Q: Define T- account.

A: Transaction:   It is an economic event that is recorded in the accounting system of an organisation.…

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: briefly explain what is meant by breakven points

A: Cost accounting is the part of accounting that helps in determining the total cost of production. It…

Q: Define value chain.

A: Value Chain: Value Chain is the combination of activities including all the costs to do such…

Q: Define Intrinsic value.

A:

Q: can you be more clear of what the answer is? thanks

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A: Supervisors regularly depend on models and intuition to make fast decisions. Intuitive decision…

Q: Define Reconciliation method

A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…

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A: Exercise can add to QBW by open up the exercise that we wish to add to our workout by going to…

Q: relevance characterisitic

A: Relevance is an important characteristic of accounting or financial information.

Q: I need examples

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A: Management by exceptions: Management by exceptions determines that the managers should not focus if…

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A: Introduction: Value drivers are related to concept of free cash flow valuation model. This helps the…

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A: The management should opt for reducing balance method of depreciation for the above scenario: This…

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A: A direct quote can be computed using the following formula: Direct quote=1Indirect quote

Q: Describe the features of JIT.

A:

Loans

A loan is a term that we are all familiar with. The processing of loans is one of the most important functions of a bank. It keeps our economy stable and facilitates the implementation of monetary policies. Let's take a look at the different forms of loans and get some answers to some common questions.