Do not use chatgpt. (1) Copy and complete the following amortization table. Be careful to note thatthere is no payment at = 2.TIME PAYMENT INTEREST PRINCIPAL BALANCEININAFTERPAYMENT PAYMENT PAYMENT(years sinceloan)0--1$8,000$22,3423$1,916.14$9,9084$0

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Given the following information from an amortization table, compute the interest expense and the carrying value for the next line of the table, rounding your answer to the nearest dollar: 3% Cash 2% Effective Interest $1,260 Interest Premium Amortization Carrying Value $864 $396 $42,815 O O O O A. Interest Expense $856; Carrying Value $43,671 B. Interest Expense $864; Carrying Value $42,411 ○ C. Interest Expense $864; Carrying Value $43,671 OD. Interest Expense $856; Carrying Value $42,411
1. Construct a partial amortization schedule showing the last 2 payments. PMT Setting N I/Y P/Y C/Y PV PMT FV Payment NumberPaymentInterest PaidPrincipal RepaidOutstanding Principal 2. Determine the total amount paid to settle the loan. Show work, not just the answer. 3. Determine the total principal repaid. 4. Determine the total amount of interest paid. Show work, not just the answer.
Given the following information from an amortization table, compute the interest expense, discount amortization, and the carrying value for the next line of the table, rounding your answer to the nearest dollar: 6% Cash Interest $42,000 7% Effective Discount Carrying Value Interest $47,714 Amortization $5,714 $687,344 A. Interest Expense $47,714; Discount Amortization $5,714; Carrying Value $687,344 B. Interest Expense $48,114; Discount Amortization $5,714; Carrying Value $681,630 ○ C. Interest Expense $48,114; Discount Amortization $6,114; Carrying Value $693,458 OD. Interest Expense $47,714; Discount Amortization $5,714; Carrying Value $681,630
Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home $ Down payment 75,000 $ Principal (loan) 4,000 $ 71,000.00 Rate of interest 5.5 % Years 30 Payment per $1,000 Monthly Martege Payment r
The debt is amortized by the periodic payment shown Compute (a) the number of payments required to amortize the debt, (b) the outstanding principal at the time indicated Payment Interval 1 month Conversion Period quarterly Outstanding Principal After: dth payment Dobt Principal Debt Payment Interest Rate $17.000 $1.265 6% (a) The number of payments required to amortize the debt is (Round up to the nearest integer.) (b) The outstanding principal is s (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)
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A loan is to be amortized by n level annual payments of X where n > 5. You are given (1) The amount of interest in the first payment is 604.00 (2) The amount of interest in the third payment is 593.75 (3) The amount of interest in the fifth payment is 582.45 Calculate X.
The table below shows the amortization schedule for a $3000 debt, which is amortized in 3 equal quarterly payments at 2.8% interest per quarter. Fill in the blanks. (No need to show your calculations in this question). Payment number Payment Interest Unpaid balance reduction Unpaid balance $3,000.00 2 56.77 1,027.74 3 1,027.74 0.00
Use the amortization table to determine how much of the 5th payment is interest. Click the icon to view the amortization table. The interest amount of the 5th payment is $ (Type an integer or a decimal.) Amortization Table Payment Number 0 1 2 3 4 5 6 7 8 9 10 11 12 Amount of Payment $301.23 $301.23 $301.23 $301.23 $301.23 $301.23 $301.23 $301.23 $301.23 $301.23 $301.23 $301.26 Amortization Table Interest for Period Print $17.50 $16.08 $14.66 $13.22 $11.78 $10.34 $8.88 $7.42 $5.95 $4.47 $2.99 $1.50 Portion to Principal $283.73 $285.15 $286.57 $288.01 $289.45 $290.89 $292.35 $293.81 $295.28 $296.76 $298.24 $299.76 Done Principal at End of Period $3500.00 $3216.27 $2931.12 $2644.55 $2356.54 $2067.09 $1776.20 $1483.85 $1190.04 $894.76 $598.00 $299.76 $0.00 ✔
Complete the next line of the schedule.
The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal at the time indicated. Payment Interval Conversion Debt PrincipalDebt Payment $14,000 Outstanding Principal After: 7th payment Interest Rate Period $875 1 month 12% monthly (a) The number of payments required to amortize the debt is. (Round the final answer up to the nearest whole number. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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(1) Copy and complete the following amortization table. Be careful to note that there is no payment at = 2. TIME PAYMENT INTEREST PRINCIPAL BALANCE IN IN AFTER PAYMENT PAYMENT PAYMENT (years since loan) 0 - - 1 $8,000 $22,342 3 $1,916.14 $9,908 4 $0