1. Use the United States Rule to solve the following: On Jan 12, a company borrowed $150,000 at 10% interestcompounded annually for 220 days. However, on July 8, they made a payment of $25,000. If no additional payments aremade, find the amount due at maturity of the loan.2. The following loan is paid in full before the date of maturity. Find the amount of unearned interest. Use the Rule of 78.Finance Charge: $422Total Number of Payments: 30Remaining Number of Payments When Paid in Full: 163. Find the payment necessary to amortize the following loans using the amortization table, and round to the nearest cent ifneeded.Amount of Loan: $12000Interest Rate: 6%Payments Made: semiannuallyNumber of Years: 84. Find the monthly payment for a 30-year real estate loan of $195,000 with an interest rate of 5%, which also has annualtaxes of $3920 and annual insurance of $850.

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1. Use the United States Rule to solve the following: On Jan 12, a company borrowed $150,000 at 10% interest compounded annually for 220 days. However, on July 8, they made a payment of $25,000. If no additional payments are made, find the amount due at maturity of the loan.

1. Use the United States Rule to solve the following: On Jan 12, a company borrowed $150,000 at 10% interest compounded annually for 220 days. However, on July 8, they made a payment of $25,000. If no additional payments are made, find the amount due at maturity of the loan.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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C3.6
Homeland Plus specializes in home goods and accessories. In order for the company to expand its business, the company takes out a long-term loan in the amount of $700,000. Assume that any loans are created on January 1. The terms of the loan include a periodic payment plan, where interest payments are accumulated each year but are only computed against the outstanding principal balance during that current period. The annual interest rate is 8.70%. Each year on December 31, the company pays down the principal balance by $86,000. This payment is considered part of the outstanding principal balance when computing the interest accumulation that also occurs on December 31 of that year. A. Determine the outstanding principal balance on December 31 of the first year that is computed for interest. $1 B. Compute the interest accrued on December 31 of the first year. Feedback C. Make a journal entry to record interest accumulated during the first year, but not paid as of December 31 of that…
Shawn Bixby borrowed $20,000 on a 210-day, 14% note. After 85 days, Shawn paid $2,300 on the note. On day 130, Shawn paid an additional $4,300. Use ordinary interest. a. Determine the total interest use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Total interest b. Determine the ending balance due use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Ending balance due
1. Use the United States Rule to solve the following: On Jan 12, a company borrowed $150,000 at 10% interest compounded annually for 220 days. However, on July 8, they made a payment of $25,000. If no additional payments are made, find the amount due at maturity of the loan.
James Co. borrowed $1,200 on a 90-day, 11% note. After 15 days, James paid $200 toward the note. James made an additional payment of $150, 40 days later. What is the final balance due and total interest for the U.S. Rule? Use ordinary interest.
Max Wholesaler borrowed $7,500 on a 8%, 120-day note. After 45 days, Max paid $2,625 on the note. Thirty days later, Max paid an additional $2,250. Use ordinary interest. a. Determine the total interest using the U.S. Rule. (Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.) Total interest amount 24 b. Determine the ending balance due using the U.S. Rule. (Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.) Ending balance due 24
On January 1, a company borrowed $35,148 for 6 months at an interest rate of 8%. The principal and interest are due at the maturity date of the note. How much interest should be accrued at the end of January? Round your answer to the nearest whole dollar (i.e., no decimal places).
please explain your answer..
Fellen Inc. borrowed $150,000.00 at 3.15% for 100 days. The company paid $30,000.00 on day 30 and another $50,000.00 on day 60. How much does the company need to pay on the due date using the ordinary interest method (round to the nearest cent)? O a. $70,709.78 O b. $70,957.27 O c. $120,393.75 O d. $150,525.00 P Type here to search 24 13 16 A 14 f5 f7
Shawn Bixby borrowed $29,000 on a 120-day, 8% note. After 55 days, Shawn paid $3,200 on the note. On day 95, Shawn paid an additional $5,200. Use ordinary interest. a. Determine the total interest use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Total interest b. Determine the ending balance due use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Ending balance due
An organization loaned $ 14,000.00 from a bank at 9% interest. They will pay a total of $ 20,300.00 within the agreed date of payment. How long will the organization need to pay the amount?
Q6. A financial institution has borrowed a one-year $20 million Eurodollar deposit at an annual interest rate of 1.5 percent. It has invested these proceeds in one-year Euro (€) bonds at an annual rate of 2.5 percent after converting them at the current spot rate of €1.22/$. Both interest and principal are paid at the end of the year. What is the spread earned by the bank at the end of the year if the exchange rate remains at €1.22/$? a) 1.50 percent b) 2.50 percent c) 0.50 percent d) 1 percent e) 2.00 percent

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