A 30-year $185,000 amortized mortgage loan has a fixed interest rate of 4.375% and fixed monthly payments. The monthly payment is $923.68. The beginning balance of the loan in the 30th month is $177,391.93. Calculate the ending balance of the loan at the end of the 30th month after this month's payment.
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Ответ:
$177,114.99
Explanation:
The ending balance of the loan at the end of the 30th month after the monthly payment is the beginning balance at the beginning of the month plus the interest for the month minus the monthly payment.
Note that the interest expense for the month increases the loan balance while the monthly payment reduces the balance.
interest expense for 30th month=beginning balance*fixed interest rate/2
interest expense for 30th month=$177,391.93*4.375%/12
interest expense for 30th month=$646.74
monthly payment =$923.68
The ending balance of the loan=$177,391.93+$646.74-$923.68
The ending balance of the loan=$177,114.99
Ответ:
The correct answer is choice b, incompatible duties.
There are three primary reasons why people commit fraudulent activity, which is represented in the Fraud Triangle. The three primary factors that lead to fraud are opportunity, financial pressure and rationalization.