Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.

By signing up, I agree to StudyStack's Terms of Service and Privacy Policy.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Remove ads
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how



For Problems 7-10, assume you get a 30-year $170,000 mortgage loan at 7.5% interest, with monthly payments of $1,188.66.
Calculate the total interest for the entire 30 years. $257,917.60
For Problems 7-10, assume you get a 30-year $170,000 mortgage loan at 7.5 interest, with monthly payments of $1,188.66.
The lender requires an escrow account. Property taxes are currently $1,950 per year and insurance is $550. What additional account is required each month for taxes and insurances (TI)? $208.33
Your payment will likely change in the future, as property taxes and insurance change. (T or F) True
For Problems, 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest.
Problem 17: Calculate the monthly payment (PI). $613.96
Problem 18: Based on making 360 pay $131,025.60
Problem 21: After making payments for 10 years, what is your balance? $77,678.99
Problem 24: How many years will it take for 1/3 of the loan balance to be repaid? 17.65 years
You get a $550,000 mortgage loan with 11/4 points. What dollar amount do you pay for points? $6,875
Many businesses that use a perpetual inventory system verify their inventory with a periodic physical inventory. (T or F) True
For Problems 2-7, assume that your business business buys a delivery truck for $25,000 on January 12. You project that the truck will be worth $5,000 at the end of its 5-year useful life.
Problem 2: What is the asset's basis? $25,000
Problem 3: What is the useful life? 5 years
Problem 4: What is the salvage value? $5,000
Problem 5: What is the depreciable basis? $20,000
Problem 7: What is the book value at the end of year 3? $13,000
For MACRS, salvage value is always 20% of cost. (T or F) False
For Problems 18-21, determine the recovery period.
Problem 18: Copy machine 5 years
Problem 21: Fence 15 years
For Problems 4-7, consider weekly TV sales of Judy's Appliance store. Eight TV sets were sold: $359, $329, $285, $575, $3,700, $285, $359, and $285.
Problem 4: What is the mean? $772.13
Problem 5: What is the median? $344
Problem 6: Which TV was the most popular? (That is, what is the mode?) $285
Created by: ch0506712