A Company recieved a loan of 140,000 at 5%Compounded monthly-to Purchase equipment for the company if they have to repay $2000 at the endof every month construct an amorti3ation Schedule Provding details of this repayment
Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…
A: Given, PV = $60000 N = 3 years I/Y = 8% FV = 0 We need to compute PMT
Q: a. Complete an amortization schedule for a $11,000 loan to be repaid in equal installments at the…
A: An amortization schedule is a schedule that shows a detailed break up pf loan payment over different…
Q: a. Complete an amortization schedule for a $29,000 loan to be repaid in equal installments at the…
A: Loan Amortization refers to the activity of reducing the actual principal amount liability from…
Q: Construct the amortization schedule for a $16,000.00 debt that is to be amortized in 12 equal…
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Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…
A: Formula: Payment = ( I x Principal amount ) / ( 1 - ( 1 + I )-N ) N = Number of years I = Interest…
Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…
A: Amortization Schedule is a complete table of loan showing payments of interest and payment of…
Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…
A: Amortization schedule: It shows the periodic loan payments with the amount of principal and interest…
Q: a €6000 loan is to be repaid at the end of 4.5 years by the sinking fund method. Interest is charged…
A: A sinking fund is a fund that the debtor establishes to deposit periodic payments into the fund to…
Q: The following is an extraction from an amortisation schedule for a filling station. The loan will be…
A: A loan amortization schedule is used to show the components of each payment and how much of the…
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A: Using excel PMT function
Q: Akuse Tours company secures a loan of GHS200,000 over 2 years at 10.5% compounded quarterly year to…
A: A person or a company or a business takes loan for buying something that it cannot otherwise afford…
Q: Marpole Carpet Cleaning borrowed $7600 from Richmond Credit Union at 8% compounded quarterly. The…
A: Borrowed Amount = $7600 Rate of Interest(r) = 8% Compunded Quarterly =…
Q: 1. Loan Amortization Schedule (P/Y = C/Y) Details: RBC has provided a $50,000 loan to Capilano…
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Q: a. Complete an amortization schedule for a $33,000 loan to be repaid in equal installments at the…
A: Loan refers to the amount borrowed by a business from another business or a financial institution…
Q: $2300 made at the end of each 6 months, construct a partial amortization schedule showing the last…
A:
Q: Required: a) Construct an full amortization schedule for the scenerio below. Details to include pmt…
A: A loan amortization table is a schedule of repayment of a loan in periodic payments, it includes the…
Q: Construct the amortization schedule for a $15,000.00 debt that is to be amortized in 10 equal…
A: The computation of semiannual payment is as follows:Hence, the semiannual payment is 1758.46.
Q: Construct the amortization schedule for a $14,000.00 debt that is to be amortized in 10 equal…
A: Calculation of Amortization Schedule:The amortization schedule for 10 equal payments are…
Q: A company received a loan of $140,000 at 5% compounded monthly to purchase equipment for the…
A: The amortization schedule is used to find out the portions of the principal and interest paid by…
Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…
A: An annuity, in simple terms, is typically a fixed sum of money which is to be paid each year until…
Q: Write out a complete schedule for the amortization of a $50,000 loan with payments every 6 months at…
A: We take loans to buy large ticket items like a house or a car which otherwise are not affordable to…
Q: he following is an extraction from an mortisation schedule for a filling station. me loan will be…
A: Loans are paid by the monthly payments that carry the payment of principal amount and payment of…
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Q: Create the amortization schedule for a loan of $15,000, paid monthly over three years using a 9…
A: Loan amount = $15,000Interest rate = 9%Period = 3 years
Q: nstruct the amortization schedule for a $17,000.00 debt that is to be amortized in 10 equal…
A: Debt=$17000r=6%n=10 payments
Q: An employee obtained a loan of P11,000 at the rate of 7% compounded annually in order to build a…
A: An amortisation schedule contains opening balance, payment , interest charged and closing…
Q: A $ 25, 000 loan at 18% semi-annually is to be amortized monthly for 2 years. Solve for the…
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Q: A Company recieved a loan of 180,000 at 5%Compounded monthly-to Purchase equipment for the company…
A: For level-payment loans, a loan amortization schedule is a table that lists each periodic loan…
Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…
A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…
Q: mortization The accountant requests a loan of $2,000 from a bank; agrees to make quarterly payments,…
A: Loan Amortization refers to the equal installment of loan repayment that includes both interest and…
Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…
A: Amortization is to divide loan into equal payments that carry the payment for loan and payment for…
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- Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569 and payment is due each Dec. 31. What is the journal entry on Jan. 1 to record the cash received and on Dec. 31 to record the annual payment? (You will need to prepare the first row in the amortization table to determine the amounts.)Write out a complete schedule for the amortization of a $50,000 loan with payments every 6 months at 14% interest compounded semiannually for 1 year. Complete the schedule below. Payment number Amount Interest 1 $ $ 2 S $ (Round to the nearest cent as needed.) Applied to principal $ $ Unpaid Balance $ $
- Akuse Tours company secures a loan of GHS200,000 over 2 years at 10.5% compounded quarterly year to purchase more tour buses for the upcoming Christmas festivities. Requirements: a. Compute the quarterly installment the entity will be required to pay. b. Prepare a spreadsheet model indicating the installment and the loan amortization schedule.AmortizationThe accountant requests a loan of $2,000 from a bank; agrees to make quarterly payments, for two years, at a rate of 24% compounded monthly. Make an amortization table.Construct the amortization schedule for a $15,000.00 debt that is to be amortized in 10 equal semiannual payments at 6% interest per half-year on the unpaid balance. Fill out the amortization schedule below. Round all values to the nearest cent. Unpaid Payment Number Payment Interest Balance Unpaid Balance Reduction $
- Loan Amortization Schedule Required: a) Construct an full amortization schedule for the scenerio below. Details to include pmt #, payment amount, interest portion and principal portion. b) Determine how much interest was paid over the term of the loan. Details: Kirkland Corporation obtained a $125,000 loan for a new business venture. The loan contract requires payments at the end of each quarter including interest at 3% compounded semi-annually. The loan is to be repaid by equal quarterly payments over a six year term. compounding I/Y NOM P/Y C/Y C/Y EFF PV рaуment FV NOM PMT C/Y EFF Pmt # Payment Interest Portion Principal Portion Principal BalanceThe following is an extraction from an amortisation schedule for a filling station. The loan will be paid off in 15 years. Month Outstanding Interest Payment Principal Outstanding principal at due at repaid principal at the the end month end beginning of the of the month month 15 R385 232,41 R3 081,86 A R1 119,21 с 120 R202 152,34 R1 617,22 A B R199 568,48 The applicable yearly interest rate is ... A. 8,0%. B. 9,6%. C. 12,0%. D. 8,3%.Give typing answer with explanation and conclusion a €6000 loan is to be repaid at the end of 4.5 years by the sinking fund method. Interest is charged at 10% compounded semiannually. The debtor establishes a sinking fund that earns 12% interest compounded semi annually. What is the total cost to debtor at the end of every 6 months
- Construct an amortization schedule for a $1,000, 3.9% annual rate loan with 3 equal payments. The first payment will be made at the end of the 1st year. Find the required annual payments Selected Answer: $356.9 Answers: $356.9 $359.7 $367.2 $370.5 what’s the ending balance of the amortized loan at the end of the first year? Selected Answer: $678.1 Answers: $650.2 $669.1 $678.1 $679.3Marpole Carpet Cleaning borrowed $7600 from Richmond Credit Union at 8% compounded quarterly. The loan is to be repaid by equal quarterly payments over a two-year term. Construct the amortization schedule for the loan.a. Complete an amortization schedule for a $33,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 9% compounded annually. Round all answers to the nearest cent BeginningRepaymentEndingYearBalancePayment nterestof Principal Balance 1$ fill in the blank 2$ fill in the blank 3$ fill in the blank 4$ fill in the blank 5$ fill in the blank 62$ fill in the blank 7$ fill in the blank 8$ fill in the blank 9$ fill in the blank 10$ fill in the blank 113$ fill in the blank 12$ fill in the blank 13$ fill in the blank 14$ fill in the blank 15$ fill in the blank 16b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places.% Interest % Principal Year 1:fill in the blank 17% fill in the blank 18% Year 2:fill in the blank 19% fill in the blank 20% Year 3:fill in the blank 21% fill in the blank 22%c. Why do these percentages change over…