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Question - You intend to purchase a house which is currently valued at $500,000. Your plan is to pay 20% down in cash and finance the balance with a mortgage for 30 years.
Growth Bank offers you a lending rate of 2.5%, compounding monthly
Big Bank offers you a lending interest rate of 2.48%, compounding weekly.
Required -
a. Compare the offers from these two banks for your mortgage by calculating Effective Annual Interest Rate (EAR). Which bank will you choose for your mortgage?
b. If you chose Growth Bank what would be your monthly mortgage payment?
c. You decided to set aside $300 in an investment at the beginning of each week for 6 months to save money for buying new furniture. If the interest rate of the investment is 3.5%, how much money can you save at the end of six months?
Using Microsoft Access, implement a relational database from your model. Identify at least 3 fields per table. Your database should have tables, forms and at least one query. Please submit your Access files to the final exam folder.
Purchased raw materials on account, $85,000. Journalize the above transactions for Farr Corporation in general journal form
baldwin company had 40000 shares of common stock outstanding on january 1 2011. on april 1 2011 the company issued
What classes and associations would be included in a model that describes the information needed for query that calculates the accounts receivable balance for each customer?
Carson uses the sum-of-the-years'-digits method of depreciation. What should the accumulated depreciation be at December 31, 2011
The state authorized the issuance of 20,000 shares of $100 par value preferred stock. Prepare journal entries to record the above transactions
Outline substantive procedures by using the Apollo Shoes Casebook for detecting irregularities in each of the following audit cycles:
Record treasury stock transactions using cost method for: a) bought 300 shares of common stock as treasury shares@ 62 b) sold 80 shares of treasury stock at 60 c) sold 40 treasury shares at 68.
chuck needs to purchase an item in 10 years. the item costs 200 today but its price inflates at 4 per year. to finance
Explain if the deduction was impacted by the Tax Cuts and Jobs Act and, if so, how it was impacted.Discuss about Tax Laws and Consequences
a company has provided the following
Extend the adjusted trial balance amounts to the Income Statement columns and the Balance Sheet columns.Indicate the order in which the preceding steps would be performed in preparing and completing a spreadsheet
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