ADMN 410 - MIS Exam 1 |Questions
Solved 100% Correct| Verified
Solutions
How to Reduce Monthly Payment? - ANSWER - Increase down payment
- Lower interest rate
Total Payment - ANSWER Monthly Payment X Term X 12 + Down Payment
Interest Payment - ANSWER The payment that goes to the bank
Total payment - price
Principal - ANSWER The payment that goes to reduce the loan
Down Payment - ANSWER Sum of the required minimum down payment and
any additional down payment entered in the inputs section
NO INTEREST
Loan - ANSWER Price - Down payment
Interest Rate - ANSWER Amount of interest/12 (when monthly)
Fixed Interest Rate - ANSWER Every month payment remains the same
, Compound Interest Rate - ANSWER Payment increases over time
ARM - ANSWER Adjustable Rate Mortgage
-After term, it goes to the market rate/value
Rate - ANSWER The interest rate per payment
period (monthly=12)
Nper - ANSWER The total number of payments for the loan
PV - ANSWER The present value of the loan - the total amount that a series of
future payments is worth now
APR - ANSWER Annual percentage rate
-the annual rate that is charged for borrowing
-represents the actual yearly cost of funds over the term of a loan
Column - ANSWER Displays values in vertical columns where the height represents the
value; the taller the column, the larger the value. Categories display along the
horizontal axis
Usually seven or fewer categories
Clustered Column- effective for comparing several data points among categories
Stacked column- relationship of individual data points to the whole category
100% stacked column- converts individual data points into percentages of the
total value
Bar - ANSWER Displays values in horizontal bars where the width represents the value;
the wider the bar, the larger the value. Categories display along the vertical axis.
Solved 100% Correct| Verified
Solutions
How to Reduce Monthly Payment? - ANSWER - Increase down payment
- Lower interest rate
Total Payment - ANSWER Monthly Payment X Term X 12 + Down Payment
Interest Payment - ANSWER The payment that goes to the bank
Total payment - price
Principal - ANSWER The payment that goes to reduce the loan
Down Payment - ANSWER Sum of the required minimum down payment and
any additional down payment entered in the inputs section
NO INTEREST
Loan - ANSWER Price - Down payment
Interest Rate - ANSWER Amount of interest/12 (when monthly)
Fixed Interest Rate - ANSWER Every month payment remains the same
, Compound Interest Rate - ANSWER Payment increases over time
ARM - ANSWER Adjustable Rate Mortgage
-After term, it goes to the market rate/value
Rate - ANSWER The interest rate per payment
period (monthly=12)
Nper - ANSWER The total number of payments for the loan
PV - ANSWER The present value of the loan - the total amount that a series of
future payments is worth now
APR - ANSWER Annual percentage rate
-the annual rate that is charged for borrowing
-represents the actual yearly cost of funds over the term of a loan
Column - ANSWER Displays values in vertical columns where the height represents the
value; the taller the column, the larger the value. Categories display along the
horizontal axis
Usually seven or fewer categories
Clustered Column- effective for comparing several data points among categories
Stacked column- relationship of individual data points to the whole category
100% stacked column- converts individual data points into percentages of the
total value
Bar - ANSWER Displays values in horizontal bars where the width represents the value;
the wider the bar, the larger the value. Categories display along the vertical axis.
