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- Then, prepare the journal entry assuming the payment is made within 10 days (the discount period).scheduled payments of 400$ due now and 700$ due in five months are to be settled by payment of 500$ in three months and final payment in 8 months. determine the amount of the final payment at 6% p.a, using 8 months from now as fhthe focal dateFind the number of periods that corresponds to the given time span, if a period is a quarter of a year, a month, and a day. (Ignore leap years.) 35 years (a) a quarter of a year _______ quarters(b) a month_______ months(c) a day_______ days Thank you!
- Determine the period of deferral of the following conditions. a. Annual payments of 8,000 for 12 years that will start 2 years from now. b. Quarterly payments of 5,000 for 8 years that will start 12 quarters from now. c. Monthly payments of 2,000 for 5 years that will start 14 months from now.If a sum of $3000 is borrowed for six months at 9 percent simple interest per year, what is the total amount due (principal and interest) at the end of six months? Yanıt:100 is deposited into an account at the end of each 3-year period for 36 years. The accumulated value at the end of 36 years is 4 times the accumulated amount in the account at the end of 12 years. Find the effective annual rate and the accumulated amount at the end of 36 years.
- Determine the number of times interest is compounded in 1 year for the following interest statements: (a) 3% per quarter; (b) 1% per month; and (c) 8% per year compounded semiannually.All rates in this question are quoted with semi-annual compounding. You observe two spot rates. The 15 month spot rate is 10.10%, while the 20 month spot rate is 13.70%. What is the forward rate from 15 months to 20 months? 25.22% 24.50% 24.87% 24.63%Create the amortization schedule for a loan of $5,600, paid monthly over two years using an APR of 8 percent. Enter the data for the first three months. Note: Round your answers to 2 decimal places. Month 1 2 3 Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance
- 2. A financial obligation requires the payment of $250.00 in eighteen months, $350.00 in thirty months, and $300.00 in fifty-four months. When can the obligation be discharged by a single payment of $800.00 if interest is 5% compounded semi-annually?The interest earned on a $6000 investment was $240. What was the term in months if the interest rate was 6%? L A. 8 months B. 9 months C. 12 months D. 7 months E. 4 monthsDetermine the amount of the ordinary annuity at the end of the given period. (Round your final answer to two decimal places.) $100 deposited per month at 2% per month for 24 months