The Roger's applied for a $70,000 mortgage for 30 years at 9%. Since they had a good credit history, they actually qualified for a 25 year mortgage at 7%. What were the payments on the 9% loan, and the 7% loan? What do they save monthly? What is the total repayment on the 9% loan and the 7% loan, and what do they save over the life of the loan?

 

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Yael purchased merchandise from Eli, she was unhappy with the quality of the goods and wanted a full refund Eli agreed, but requested the goods be sent back Eli to re-sell. Yael sent back the good Yael purchased the goods for $300,000. The goods cost Eli $120,000. What is the JE to book the return of goods for Eli? O a. Dr COGS $120,000; Cr Cash $120,000 AND Dr Inventory $120.000; Cr COGS $120,000 O b. Dr Inventory $120,000; Cr COGS $120,000 AND Dr Rev Returns & Allow $300,000, Cr Cash $300,000 Oc. Dr Inventory $120,000, Cr Cash $120,000 AND Dr Rev Returns & Allow $120,000; Cr Cash $120,000 O d. Dr COGS $300,000; Cr Inventory $300,000 AND Dr COGS $120,000; Cr Cash $120,000 Yael purchased merchandise from Eli, she was unhappy with the quality of the goods and wanted a full refund Eli agreed, but requested the goods be sent back Eli to re-sell. Yael sent back the good Yael purchased the goods for $300,000. The goods cost Eli $120,000. What is the JE to book the return of goods for Eli? O a. Dr COGS $120,000; Cr Cash $120,000 AND Dr Inventory $120.000; Cr COGS $120,000 O b. Dr Inventory $120,000; Cr COGS $120,000 AND Dr Rev Returns & Allow $300,000, Cr Cash $300,000 Oc. Dr Inventory $120,000, Cr Cash $120,000 AND Dr Rev Returns & Allow $120,000; Cr Cash $120,000 O d. Dr COGS $300,000; Cr Inventory $300,000 AND Dr COGS $120,000; Cr Cash $120,000

Answer rating: 100% (QA)

To calculate the payments on the 9 loan and the 7 loan we can use the formula for calculating the monthly payment on a fixedrate mortgage Monthly Paym... View the full answer