Use the Real Estate Amortization Table to Find the Monthly

question 37

Multiple Choice

Use the real estate amortization table to find the monthly payment for the loan.
-What is the monthly payment on a 30-year loan of $63,000 if the annual interest rate is

• A)$425.25
• B)$465.57
• C)$462.42
• D)$441.00

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Definitions:

Factory Rent

The cost incurred by a business for leasing a manufacturing facility or space where production activities are carried out.

Factory Overhead

All the supplementary costs tied to manufacturing, aside from the expenses of direct materials and direct labor.

Amortization

The periodic transfer of the cost of an intangible asset to expense.

Direct Labor Used

The total hours worked by employees directly involved in the production process, impacting manufacturing costs.