# Borrower Kathy has a starting balance of $150,000 at the beginning of January. She is being charged at 3.25% interest. Her total monthly payment for combined principal and interest is$640.50. How much of the first payment is the principal? 1) $640.50 2)$844.64 3) $406.25 4)$234.25

4) $234.25 Explanation: First, we have to find out the monthly interest payment which is shown below: = (Starting balance of January month × interest rate) ÷ total number of years in a year = ($150,000 × 3.25%) ÷ 12 months

= $406.25 The total monthly payments is$640.50

So, the first payment would be

= Total monthly payments - monthly interest payment

= $640.50 -$406.25

= $234.25 ## Related Questions For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided. (Enter any decreases to account balances with a minus sign.) a. (Sample) Borrowed$3,940 from a local bank on a note due in six months. b. Received $4,630 cash from investors and issued common stock to them. c. Purchased$1000 in equipment, paying $200 cash and promising the rest on a note due in one year. d. Paid$300 cash for supplies. e. Bought and received $700 of supplies on account. ### Answers Answer: Accounting equation is as follows: Assets = Liabilities + Stockholder's equity (a) Cash$3,940                Notes payable  $3940 (b) Cash$4,630                                                             Common stock  $4,630 (c) Equipment$1,000

Cash (-$200) Notes payable(ST)$800

(d) Supplies $300 Cash (-$300)

(e) Supplies $700 Accounts payable$700

Equity              =          Assets           -       Liabilities

Transaction a:

_                       Cash +$3940 Notes Payable* +$3940

Transaction b:

Owners

equity +$4,630 Cash +$4,630           _

Transaction c:

_                             Equipment +$1,000 _ _ Cash -$200            Notes Payable* +$800 Transaction d: _ Supplies +$300         _

_                            Cash -$300 _ Transaction e: _ Supplies +700 Accounts payable +$700

* short term

Explanation:

In accounting for transactions, the double entry system (for every debit there must be an equal credit) is employed. The accounting equation is the basis of this system and it dictates that the total owners' or shareholders' equity (profits available for distribution) in a business is equal to the business assets (what the business owns) less its liabilities (what the business owes). Using this equation, the direction of the effects of the transactions to Spotlighter, Inc.'s financial position will be as follows:

Equity              =          Assets           -       Liabilities

_                         Cash +$3940 Notes Payable*+$3940

Owners

equity +$4,630 Cash +$4,630           _

_                             Equipment +$1,000 _ _ Cash -$200             Notes Payable* +$800 _ Supplies +$300         _

_                            Cash -$300 _ _ Supplies +700 Accounts payable+$700

$4, 630 =$10, 070              -     \$5,440

After buying a mini cooper, kate began paying more attention to advertisements for mini and spent more time on websites reading about how much mini drivers love their cars because she was sympathetic to these messages and found them pleasant

WHAT is the question???????? idk how to answer

The oldest retail setting, located in the community's downtown area, is referred to as

The oldest retail setting is referred to as the Central Business District.

Hope this helps!

ASAP!!!!!!!!!!!!!!!!!! How did Europe benefit from the Crusades?

Effects of the Crusades. Although the crusades failed to capture Jerusalem, they had several major impacts on Western Europe. They increased the authority of the king: Sometimes nobles died in battle without leaving an heir in which case the king got their land. Kings passed taxes to pay for the crusades.

Explanation:

The Europeans learned about new concepts in math as well as a new numbering system, called Hindu Arabic Numerals, that we still use today. They gained access to new medical knowledge and other ideas as well. The Crusades also opened up many new trade possibilities with goods that Europeans never had access to before.

The u.s. census bureau’s definition of family has been challenged because it does not include:

The answer that completes the statement above is LONG-TERM COUPLES WHO LIVE TOGETHER. Based on the US Census, it only defines family as a group of two or more which is linked together by blood or birth, marriage, and adoption. Therefore, this does not include those who are just living in together most especially the couples.

________outright lying or obfuscation, is antithetical to authentic communication and should be avoided by PR professionals, according to executive Roxanne Taylor. a. embedding
b. dissembling
c. spin
d. covering up

Explanation: Spin, outright lying or obfuscation, is antithetical to authentic communication and should be avoided by PR professionals, according to executive Roxanne Taylor.

Ethically correct public relations professionals should not lie, deviate or obscure the description of facts or events as it is a way of undermining authentic communication.

The _______ function calculates the number of payment periods in an investment or loan.

The NPER function calculates the number of payment periods in an investment or loan. NPER is a function in microsoft excel from the category Financial Function. It  that can be used to get the number of payment periods for a loan, given the amount, the interest rate, and periodic payment amount.

A small risk of loss in an investment.

A small risk of loss in an investment:

Investment risk can be characterized as the likelihood or probability of the event of misfortunes comparative with the normal profit for a specific venture. Portrayal: Stating basically, it is a proportion of the degree of vulnerability of accomplishing the profits according to the desires for the financial specialist.

The potential advantage of a "high-chance venture" is that quite possibly you could make an extremely exceptional yield on the speculation too. The five measures incorporate the alpha, beta, R-squared, standard deviation, and Sharpe proportion. Hazard measures can be utilized separately or together to play out a hazard appraisal.

Russell, an entrepreneur, wants to hire a human resource professional who can help him make decisions about who will or will not be allowed to join his organization. In advertising for this professional, what term should he use to describe the process he wants help with?