A debt of $42 500.00 is repaid by payments of $4850.00 made at 3) the end of each year. Interest is 7% compounded semi-annually. a) How many payments are needed to repay the debt? 3) b) What is the cost of the debt for the first three years? c) What is the principal repaid in the 3rd year?
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- A debt of $1908 with interest at 6.3% compounded annually is to be repaid by equal payments at the end of each year for 4 years. What is the balance remaining (BAL) after the second payment? What is the principal repaid (PRN) in the second payment? What is the interest paid (INT) in the second payment?A debt of $1908 with interest at 6.3% compounded annually is to be repaid by equal payments at the end of each year for 4 years. 1. What is the balance remaining (BAL) after the first payment? 2. What is the principal repaid (PRN) in the first period? 3. What is the interest paid (INT) in the first period?3) the end of each year. Interest is 7% compounded semi-annually. A debt of $42 500.00 is repaid by payments of $4850.00 made at 3) a) How many payments are needed to repay the debt? b) What is the cost of the debt for the first three years? c) What is the principal repaid in the 3rd year? d) Construct an amortization schedule showing details of the first three payments, the last three payments, and totals.
- a. Set up an amortization schedule for a $19,000 loan to be repaid in equal installments atthe end of each of the next 3 years. The interest rate is 8% compounded annually.b. What percentage of the payment represents interest and what percentage representsprincipal for each of the 3 years? Why do these percentages change over time?A debt of $63 100.00 is repaid by payments of $4350.00 made at the end of every six months. Interest is 6.5% compounded quarterly.a) What is the number of payments needed to retire the debt?b) What is the cost of the debt for the first five years? c) What is the interest paid in the 11th payment?d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.. A debt of P56,000, with interest at 5% compounded monthly, will be discharged, interest included, by monthly payments of P500 for as long as necessary, Find: a. the number of regular payments; b. the outstanding principal after 4 years; c. the final or concluding payment.
- A debt of $40,000 is repaid over 12 years with payments occurring annually. Interest is 4% compounded quarterly. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 6? (c) What is the interest paid on payment 7? (d) How much principal is repaid in payment 7?A debt of $31,000 is repaid over 8 years with payments occurring semi-annually. Interest is 4% compounded quarterly. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 7? (c) What is the interest paid on payment 8? (d) How much principal is repaid in payment 8? (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)For a repayments schedule that starts at the end of year 5 at $A and proceeds for years 6 through 40 as $2A, $3A...... What is the value A if the principal of this loan is $100,000.00 and the interest rate is 10% compounded annually?
- Assume that 1500 Php is deposited in an account in which interest is compounded annually at a rate of 6% for 5 years. How many times is compunding done in a year. What is the initial or rincipal amount. then what is the rate of interest?A debt of $36,000 is repaid over 10 years with payments occurring quarterly. Interest is 8% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 27? (c) What is the interest paid on payment 28? (d) How much principal is repaid in payment 28?A debt of $42,000 is repaid over 10 years with payments occurring semi-annually. Interest is 3% compounded quarterly (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 7? (c) What is the interest paid on payment 8? (d) How much principal is repaid in payment 8? CCEED (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)