User Account

All Pages

How much of payment goes to paying interest

Assignment Help Financial Accounting
Reference no: EM133007412

Your brother Mr Uji Moto has decided to purchase a house in Lavington estate and take out a 30-year mortgage. The mortgage amount is Kenya shillings 30 million. The bank charges interest at 8% per annum.

Problem 1: What is the annual payment required by this mortgage?

Problem 2: How much of payment goes to paying interest and how much reducing the principal balance in year 1?

Reference no: EM133007412

Questions Cloud

How would you know when od intervention : How would you know when OD intervention is required to solve certain organization problems? What process will you go through to determine the need for one?
What is the entry to record the unrealized gain or loss : What is the entry to record the unrealized gain or loss? On January 1, 2016, an entity purchased marketable equity securities not qualifying as financial asset
Create a combined chart of the two interest components : Construct a data table for interest and principal component under the two interest rates. Create a combined chart of the two interest components
What would happen if the interest rate per year dropped : Consider what would happen if the interest rate per year dropped from 8%pa to 7%pa. How much of year 1 payment would go to paying interest
How much of payment goes to paying interest : How much of payment goes to paying interest and how much reducing the principal balance in year 1? Your brother Mr Uji Moto has decided to purchase a house.
Calculate the total of capital expenditure incurred by erica : Erica trades as a financial adviser. Calculate the total of capital expenditure incurred by Erica's business when acquiring the computer system.
Describe the range of evidence-based interventions : Describe the range of evidence-based interventions that can be utilized to promote healing and recovery from trauma for that particular client group
Calculate tax paid on gain on disposal for genetic insights : Calculate tax paid on gain on disposal. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%
How does working with integrity improve your professional : Examine the internal and external business environment to effectively interpret messages in different business contexts - demonstrate academic integrity

Reviews

Write a Review

Financial Accounting Questions & Answers

  Consists of two departments-blending and filling

Rocky Springs Beverage Company consists of two departments, Blending and Filling. The Filling Department received 55,600 ounces from the Blending Department. During the period, the Filling Department completed 61,300 ounces, including 9,000 ounces of..

  What is the external financing needed

All costs, assets, and current liabilities vary directly with sales. The firm is currently at full production. What is the external financing needed (EFN)?

  Calculate the ownership operating advantage in year three

Calculate the Ownership Operating Advantage in year 3. There is a choice to buy a car worth $32,000 with 100% financing at 3.99% APR for 60 month

  What if was a two percent fee charged on any balances

What if there was a 2 percent fee charged on any balances transferred? (Do not round intermediate calculations and round your answer to 2 decimal places)

  How do calculate the pv of the lease payments

Payments are made at the beginning of the period. Assume a discount rate of 7%. Calculate the PV of the Lease payments in the scenarios.

  What is the expected return and risk on the loan

Bronte Bank is charging a 15 percent interest,What is the expected return on loan and the risk on the loan using the Moody's Analytics Portfolio Manager model?

  How disposal of shares in winter bhd should be accounted

How the disposal of shares in Winter Bhd should be accounted for in the consolidated financial statements of Snowy Bhd Group for the year ended

  What price should you pay for the firm

What price should you pay for the firm if after-tax cash flows of the firm are expected to remain at $50,000 per year for the first two years

  What incentives are necessary to improve rate of compliance

Develop a brief explanation of the finding that many inspections were not in compliance with state standards. What incentives are necessary to improve the rate of compliance?

  Prepare the cash collection schedule

75% of sales are on account. 50% of credit sales are paid for in the month of the sale, 30% in the month following sale, and 20% are paid two months after the month of the sale. Prepare the cash collection schedule for July through September includin..

  Compute what must the interest rate be

At the end of 8 years. Today, you deposit $10,000. You make an additional 5 yearly deposits growing at 5 percent. What must the interest rate be?

  What is between journalizing and posting

Between journalizing and posting, which step changes the balance of an account? Explain. What are some key differences between each of three trial balances?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd