enforces the Federal Food, Drug, and Cosmetic Act and its amendments. Food labeling is required for most prepared foods, such as breads, cereals, canned and frozen foods, snacks, desserts, and drinks. The FDA works to ensure the safety, proper labeling, and purity of foods, drugs, vaccines, devices, and cosmetics.
Personal papers—social security card, birth certificate,
educational transcripts
Tax documents—tax forms, tax returns, and associated documentation
Housing information—leases or deeds, titles, and surveys and mortgages
Car documents—titles, leases, maintenance records
Insurance policies—rental property, auto, life, homeowners
Household inventory—list of valuable property
Employment information—paycheck stubs, benefits statements, retirement statements
Bank records—account information for all checking, savings, and other
accounts
Financial information—credit card statements, loan documents, investment information, charity donation receipts
Health and medical records
Will and estate documents—will, power of attorney, living will
The first step is to calculate the monthly payment using a present value (PV) of $227,000 , monthly interest rate of 6.60/12 = 0.55%, and 240 periods,
which = $1705.842 ; the second step is to use that monthly payment to calculate the balance at the end of five years, which = $194,594.353 ; next step is to reduce this balance by $50,000 to the new outstanding balance of $144,594.353 ; now calculate the number of
months required to pay off this balance,
which = 114.45 ; the last step is to calculate the difference between 180 - 114.45 = 65.55 , when divided by 12 gives 5.5 years.
Current Mortgage Payment: P/Y = 12, N = 360, I/Y = 6.5, PV = $200,000, Solve for PMT = $1,264.14
Current Mortgage Balance: P/Y = 12, N = 300, I/Y = 6.5, PMT = $1,264.14, Solve for PV = $187,221.9
New Mortgage Payment: P/Y = 12, N = 240, I/Y = 4.25, PV = $187,222.54, Solve for PMT =
$1,159.35
Current Payment - New Payment = $1,159.35- $1,264.14 = -$104.79
Current Mortgage Payment: P/Y = 12, N = 360, I/Y = 6.20 , PV = $206,000 , Solve forPMT= 1261.69
Current Mortgage Balance: P/Y = 12, N = 300, I/Y = 6.20 , PMT = 1261.69 , Solve for PV = $192,159.69
Total of Remaining Payments on Current
Mortgage = 300 × $1261.69 = $378,505.83
New Mortgage Payment: P/Y = 12, N = 240, I/Y = 3.95 , PV = $192,159.69 , Solve for PMT =
$1159.39
Total Payments on New Mortgage: 240 × $1159.39 = $278,254.41
Difference in Total of Payments = $378,505.83 - $278,254.41 = $100,251
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