Given the following information from an amortization table, compute the interest expense and the carrying value for the next line of the table, rounding your answer to the nearest dollar:3% Cash 2% EffectiveInterest$1,260InterestPremiumAmortizationCarryingValue$864$396$42,815O O O OA. Interest Expense $856; Carrying Value $43,671B. Interest Expense $864; Carrying Value $42,411○ C. Interest Expense $864; Carrying Value $43,671OD. Interest Expense $856; Carrying Value $42,411

An amortization table tracks the reduction of a premium or discount over the life of a bond. Each…

Answered: Given the following information from an…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Given the following information from an amortization table, compute the interest expense, discount amortization, and the carrying value for the next line of the table, rounding your answer to the nearest dollar: 6% Cash Interest $42,000 7% Effective Discount Carrying Value Interest $47,714 Amortization $5,714 $687,344 A. Interest Expense $47,714; Discount Amortization $5,714; Carrying Value $687,344 B. Interest Expense $48,114; Discount Amortization $5,714; Carrying Value $681,630 ○ C. Interest Expense $48,114; Discount Amortization $6,114; Carrying Value $693,458 OD. Interest Expense $47,714; Discount Amortization $5,714; Carrying Value $681,630
Can someone explain how was the table of amortization calculated? Please show solution. Table of amortization is already given below
From the partial/incomplete amortization table below. what is the perlodic tgot payment for the 1st period? Interest Раyment Periodie Repayment Outstanding Principal 7,000,000.00 Periodic Period Payment 0. 100,000 00 100,000 00 100,000 00 60,000 00 O P160,000 00 O PI30.000.00 P40,000 00 P60.000 00 0123
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Take a look at the chart pls..
Cullumber Inc. owns and operates a number of hardware stores in the Atlantic region. Recently, the company decided to open another store in a rapidly growing area of Nova Scotia. The company is trying to decide whether to purchase or lease the building and related facilities. Currently, the cost of funds for Cullumber is 10%. Purchase: The company can purchase the site, construct the building, and purchase all store fixtures. The cost would be $1,840,000. An immediate down payment of $405,000 is required, and the remaining $1,435,000 would be paid off over five years with payments of $347,000 per year (including interest payments made at the end of the year). The property is expected to have a useful life of 12 years, and then it will be sold for $590,000. As the owner of the property, the company will pay $51,000 in occupancy expenses at the end of each year. Lease: First National Bank has agreed to purchase the site, construct the building, and install the appropriate fixtures for…
Prepare the amortization table for 2025, assuming that amortization is recorded on interest payment dates using the effective-interest method. (Round answers to 0 decimal places, e.g. 25,000.) Date Cash Expense Amortization Carrying Amount 1/1/25 $enter a dollar amount 6/30/25 $enter a dollar amount $enter a dollar amount $enter a dollar amount enter a dollar amount 12/31/25 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount
Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home $ Down payment 75,000 $ Principal (loan) 4,000 $ 71,000.00 Rate of interest 5.5 % Years 30 Payment per $1,000 Monthly Martege Payment r
Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home: $198,000 Down payment: $60,000 Principal (loan): 138,000 Rate of interest: 6.5% Years: 25 Payment per $1,000: ??? Monthly mortgage payment:???? TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Rate Interest Only 10 Year 15 Year 20 Year 25 Year 30 Year 40 Year 2.000 0.16667 9.20135 6.43509 5.05883 4.23854 3.69619 3.02826 2.125 0.17708 9.25743 6.49281 5.11825 4.29966 3.75902 3.09444 2.250 0.18750 9.31374 6.55085 5.17808 4.36131 3.82246 3.16142 2.375 0.19792 9.37026 6.60921 5.23834 4.42348 3.88653 3.22921 2.500 0.20833 9.42699 6.66789 5.29903 4.48617 3.95121 3.29778 2.625 0.21875 9.48394 6.72689 5.36014 4.54938 4.01651 3.36714 2.750 0.22917 9.54110 6.78622 5.42166 4.61311 4.08241 3.43728 2.875 0.23958 9.59848 6.84586 5.48361 4.67735 4.14892 3.50818 3.000…
Using the problem in example 9, construct an amortization schedule by filling up the table below. Show your solutions for column B by using the formula: I = Prt.
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Use the following amortization chart: Selling price of home $77,000, Down payment $5,000, Principal $72,000, Rate of interest 5.0%, 30 years, Payment per $1,000 $5.37, Monthly mortgage payment $386.64. What is the total cost of interest?

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