Blue Oak Investments borrowed $750,000 at a 6% annual interest rate, payable annually. What is the total interest expense for one year? A) $35,000 B) $42,000 C) $45,000 D) $54,000
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- Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.AbcA company borrows $120,000 at an annual interest rate of 5% for a period of 3 years. Calculate the total interest to be paid over the 3 years using simple interest.
- Lakeshore Electronics borrowed $500,000 at an 8% annual interest rate on a 5-year loan. If the company makes annual interest payments, what is the interest expense for the first year?You have borrowed $28,000 at an interest rate of 12% compounded annually. Equal payments will be made over a four-year period, with each payment made at the end of the corresponding year? What is the interest payment for the second year?(a) $1,800(b)$2,251(c) $1,089(d)$2,657A limited company borrows form commercial bank 1,000,000 at 12% interest to be paid in equal annual installments. What would be the size of the installment be? Assume the payment paid in 5 years.
- assume a 30-year $200,000 mortgage loan with an apr of 7%. what is the amount of interest and principal, respectively applied from the first annual fixed payment? a) $7,000; $133.33 b)$133.33; $7,000 c)$14,000; $2,177.28 d) $2,177.28; $14,000A debt of $30,000 is repaid over 12 years with payments occurring quarterly. Interest is 9% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 10? (c) What is the interest paid on payment 11? (d) How much principal is repaid in payment 11?The SKC Corporation plans to borrow $1,000 for a 90-day penod. At matunity the firm will repay the $1.000 principal amount plus $45 interest What is the effective annual rate of interest (A/F) for the loan? (Select the best choice below) OA 18.00% OB. 450% OC. 1925 % OD. 4.58%
- Meriton Ltd borrows $ 100,000 at an interest rate of 11.5% per annum, repayable by equal monthly instalments over 20 years. Calculate the principal and interest components of the first and last repayments. Can you please solve step by step with the formulaAn $80,000 loan is amortized by payments of $1950 at the end of every quarter at a rate of 9% compounded quarterly. 1. Construct a partial amortization schedule showing the last 2 payments. 2. Determine the total amount paid to settle the loan. 3. Determine the total principal repaid. 4. Determine the total amount of interest paid.2. $6500 was borrowed at an interest rate of 12% compounded semi-annually. If the loan is to be paid off as a single payment after five years, how much money must be repaid? A) $8698.47 B) $11,455.22 C) $11640.51 D) $20,188.01