Decide whether the statement makes sense. Explain your reasoning.I have a fixed-rate 30-year mortgage of $120,000 at 6%. I inherited some money recently. If I pay off my mortgage in 20 years instead of 30, the total amount of interest I will end up paying will be less.
What will be an ideal response?
Yes, the statement makes sense. With a shorter-term loan, the total amount of interest paid will be less.
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Solve the equation on the interval 0 ? ? < 2?.cos2 ? + 2 cos ? + 1 = 0
A. ?
B. 
, 
C. 
, 
D. 2?
The FASB Statement of Financial Accounting Concepts No. 7 describes five elements that together may be used to determine the value of various assets and liabilities, what are these five elements?
What will be an ideal response?
Mathias Company estimated that it has a 20% probability of receiving $240,000 one year from now, a 30% probability of receiving $240,000 two years from now, and a 50% probability of receiving $240,000 three years from now. ? Required: ? Using the FASB's concept of "expected cash flows," calculate the present value of the expected cash flows assuming a 10% interest rate compounded annually.
What will be an ideal response?
The FASB concepts statement relating to cash flow information introduces the concept of expected cash flows when using present values for accounting measurements. Assume that Smith Company determined that it has a 40% probability of receiving $10,000 one year from now and a 60% probability of receiving $10,000 two years from now. ? Required: ? Using the FASB concepts, calculate the present value of the expected cash flows assuming a 12% interest rate compounded annually.
What will be an ideal response?