Create the amortization schedule for a loan of $15,000, paid monthly over three years using a 9 percent APR. Enter the data for thefirst three months. (Round your answers to 2 decimal places.)Month123BeginningBalanceTotal Payment Interest Paid$ 15,000.00 $ 477.00+-0.5% $ 112.50+-0.5%477.00+/-0.5%109.77+/-0.5%107.01+/-0.5%477.00+/-0.5%14,635.50+/-0.1%14,268.27+/-0.1%Principal Paid$ 364.50+-0.5%Ending Balance$ 14,635.50+/-0.1%14,268.27+/-0.1%367.23+/-0.5%369.98+/-0.5% 13,898.29+/-0.1%

Loan amount = $15,000Interest rate = 9%Period = 3 years

Answered: Create the amortization schedule for a…

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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Compute the size of the final payment for the following loan. Principal $ Periodic Payment $ Payment Period Payment Made at: Interest Rate % Compounding Period 8100 520 3 months beginning 8 quarterly The size of the final payment is $_ .?
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Prepare an amortization schedule for a three-year loan of $96,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year 1 2 3 Beginning Balance Total Payment Total interest Interest Payment Principal Payment Ending Balance
Create the amortization schedule for a loan of $5,000, paid monthly over two years using an 8 percent APR. Enter the data for the first three months. (Round your answers to 2 decimal places.) Month 1 2 3 Beginning Balance $ 5,000.00 Total Payment Interest Paid Principal Paid Ending Balance
Use the table to find the monthly payments on the given loan. Amount Rate Time $63,000 12% 3 years table of monthly payments on a $1,000 loan. The monthly payments for this loan are? (Type an integer or a decimal.)
Prepare an amortization schedule for a five-year loan of $70,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Year 1 2 3 4 5 $ Beginning Balance 70,000.00 $ 58,421.11 X 45,800.12 X 32,043.24 x 16,094.24 x > Answer is complete but not entirely correct. Total Interest Payment Payment 17,996.47 $ 17,996.47✔ 17,996.47 ✔ 17,996.47 ✔ 17,996.47✔ Answer is complete and correct. 6,300.00 $ 5,257.90 X 4,122.01 X Total interest paid $ 19,982.35 2,884.90 X 1,444.43 x Principal Payment Ending Balance How much total interest is paid over the life of the loan? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. 11,696.47 $ $ 58,303.53 12,738.57✔ 57,261.43 X 13,874.46 X 56,125.54 X 15,111.57 X 54,888.43 X 16,552.04 X 53,447.96 X
Subject: accounting
The interest rate on a $65,000O loan is 9.8% compounded semiannually. Quarterly payments will pay off the loan in twelve years (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. Calculate the interest component of Payment 10. Interest b. Calculate the principal component of Payment 41. Principal c. Caldulate the total interest in Payments 29 to 40 inclusive. Total interest d. Calculate the reduction of principal in Year 3. Principal reduction
Set up expressions initially with functional notation like P/F,i,n 1. The owner of a small business borrows 40,000 on a 2-year contract at 7% interest compounded annually, with the loan to be repaid in two equal EOY installments. The first payment will be deferred one year. Determine the loan payment (installment) amount to the nearest cent.
loan of $37,100.00 at 6.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 6 years. a. Calculate the size of the periodic payment. $3,488.50 $4,425.18 $3,727.14 $4,009.67 b. Calculate the total interest paid. $7,625.68 $44,725.68 $3,898.54 $11,352.82
n.c.
Find the payment R needed to amortize a loan of $22,000 at 3.5%/year compounded monthly with 36 monthly installments over a period of 3 years

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