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Question - Four years ago your parents purchased a town house for $850,000. They made a down payment of 20% and took out a mortgage with the bank for the balance. They amortized the mortgage over 25 years at 3.1% compounded semi-annually for a 4-year term.
(a) Calculate their monthly payment. The bank rounds the payment up to the next dollar.
(b) How much of the 48th payment was interest? Express your answer in 2 decimal places.
(c) How much interest did they pay in the 4th year (Year 4) of the mortgage? Express your answer in 2 decimal places.
(d) What percentage of the mortgage have they paid off after making 4 years of payments? Express your answer in 2 decimal places.
(e) After making four years of payments, they made a lump-sum payment to reduce the balance owing to $580,000. How much was the lump-sum payment? Express your answer in 2 decimal places.
Determine the internal rate of return on the investment in the new machine - The machine would reduce labor and other operating costs by $20,000 per year
Explain how the values were determined. Calculate the Year 2 break-even quantity, break-even sales. Calculate the Year 1 break-even quantity,contribution margin
The Kwok Company's inventory balance on December 31, 2021, Determine the correct inventory amount to be reported in Kwok's 2021 balance sheet.
You are the management accountant of MB plc, a company producing electrical goods. The MD has asked you to analyse the performance of one of its products the 'Toastie', which has performed poorly in the financial year just ended.The budgeted infor..
what are the ways in which cost be be classified to suit management needs.give examples of the
The kits have a short-run average variable cost of $48 and are sold for $55 each. The daily output that Tetrangle would need to earn a daily profit of $540 is
Read the following scenario. Respond to the scenario with an essay laying out a managerial plan that is rooted in the Managerial Accounting knowledge that you have acquired thus far in the semester.
Determine the activity rate for the setup activity (round to nearest dollar). The total factory overhead for Norton Company is budgeted for the year at $300,000
Required journal entry to record the transfer of the cost of goods completed and transferred out during May. Calculation of equivalent units.
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If the Fixed Costs for this year are ` 4,80,000 and the annual sales are at 60% margin of safety, calculate the rate of net return on sales
Gas prices aredepleting your wallet so fast that you might even have to give up your old car and resort to walking or riding your bike on occasion. Will making the investment in a hybrid slow the outflow from your wallet and spare your feet?
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