Two months after the burglary of his personal residence

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1. Two months after the burglary of his personal residence, Erick is audited by the IRS. Among the items taken in the burglary was a shoe box containing approximately $50,000 in cash. Eric is the owner and operator of a cash and carry liquor store. Eric wonders why he was audited.

2. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.90%. What portion of the payments during the first 31 months goes toward principal in %?

Reference no: EM131842727

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