(a) The size of the quarterly payment is S. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest included in payment 16 is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (e) The principal repaid in payment period 11 is S]. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(a) The size of the quarterly payment is S. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest included in payment 16 is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (e) The principal repaid in payment period 11 is S]. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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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Transcribed Image Text:Complete the table for the last three payments.
(Do not round until the final answer. Then round to the nearest cent as needed.)
Payment Number
Amount Paid
Interest Paid
Principal Repaid
Outstanding Principal Balance
34
35
36
$O
Total Paid = $
(Do not round until the final answer. Then round to the nearest cent as needed.)
Interest Paid = S
(Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:Tricana Corporation borrowed $80,000.00 at 4% compounded quarterly for 9 years to buy a warehouse. Equal payments are made at the end of every 3 months.
(a)
(b)
(c)
(d)
Determine the size of the quarterly payments.
Compute the interest included in payment 16.
Determine the principal repaid in payment period 11.
Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.
(a) The size of the quarterly payment is S
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(b) The interest included in payment 16 is $.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(c) The principal repaid in payment period 11 is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(d) Complete the table below for the first three payments in the schedule.
(Do not round until the final answer. Then round to the nearest cent as needed.)
Payment Number
Amount Paid
Interest Paid
Principal Repaid
Outstanding Principal Balance
$80,000.00
1
2
3
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