Suppose you take out a home mortgage for $180.000 at a monthly interest rate of 0.4%. if you make payments of $1000/month, after how many months will the loan balance be zero? estimate the answer by graphing the sequence of loan balances and then obtain an exact answer.

time = 318.77

It will be after 318 months

Explanation:

We are asked to find the time of an annuity of 1,000 monthly payment

which present value is 180,000

C = 1000

rate = 0.004

time ??

PV = 180,000

We clear out the dividend:

Then we clear the power up, notice it is negative, so we have to multiply by (-1)

We now use logarithmics to solve for time

time = 319

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

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