Large semitrailer trucks cost $75,000 each. A trucking company buys such a truck and agrees to pay for it by a loan that will be amortized with 8 semiannual payments at 18% compounded semiannually. Complete an amortization schedule for the first four payments of the loan. ..... Fill out the amortization schedule below. (Round to the nearest cent as needed. Do not include the $ symbol in your answers.) Principal at Payment Amount of Interest for Payment Portion to End of Number Period Principal Period $75,000 1

Large semitrailer trucks cost $75,000 each. A trucking company buys such a truck and agrees to pay for it by a loan that will be amortized with 8 semiannual payments at 18% compounded semiannually. Complete an amortization schedule for the first four payments of the loan. ..... Fill out the amortization schedule below. (Round to the nearest cent as needed. Do not include the $ symbol in your answers.) Principal at Payment Amount of Interest for Payment Portion to End of Number Period Principal Period $75,000 1

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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Similar questions

Lush Gardens Co. bought a new truck for $56,000. It paid $6,160 of this amount as a down payment and financed the balance at 4.47% compounded semi-annually. If the company makes payments of $1,800 at the end of every month, how long will it take to settle the loan? Express the answer in years and months, rounded to the next payment period You plan to save money for a down payment of $32,000 to purchase an apartment. You can only afford to save $6,000 at the end of every 6 months into an account that earns interest at 5.50% compounded monthly. How long will it take you to save the planned amount? Express the answers in years and months, rounded to the next payment period
Sam's Auto Repairs Inc. borrowed $9231 to be repaid by monthly payments over 4 years. Interest on the loan is 3.55% compounded semi-annually. (*Hint: General Annuity) Compute the equal monthly payment. Round your answer to 2 decimal places. Do not enter the dollar sign. Sample input: 124.34 need all steps of calculations for rough work and Create a full loan amortization table for Question
Smith's Trailer Sales will finance a 16-foot utility trailer with ramps and electric brakes. If a down payment of $90 and eight monthly payments of $84.15 are required, what is the installment price of the trailer? The installment price is s
XYZ Construction Inc. wants to purchase a new pick-up truck. The price for the new truck is $43, 688. The dealer allows XYZ to trade - in the old truck for $5,224. XYZ can payback the remaining balance through a 4-year payment plan. Given the agreed interest rate is 3%: How much is the monthly payment?
Not sure what the table factor would be
Carry out the amortization table of an automobile loan that is canceled with 36 monthly payments of $ 5,750, at an interest rate of 25.20% per annum, compounded by months, to. Make the amortization table for this case that contains: payment, interest, payment to capital and unpaid balance. b. What is the unpaid balance after making payment number 15? c. What is the unpaid balance after making payment number 30?
4. PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASBancomer grants loans for the purchase of new automobiles, at 12½ % interest with monthly payments, for 4 years. It requests a minimum down payment of 10% and a maximum of 50% of the initial value of the car, excluding insurance and license plates. Considering the above, calculate the interest cost (effective rate) and the amount of the monthly payments considering the down payments from smallest to largest and varying from 10% to 10%. After a 30% down payment, the rate drops to 11.5%. The list cost of the car is $254,000.00. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
Lush Gardens Co. bought a new truck for $52,000. It paid $5,720 of this amount as a down payment and financed the balance at 4.08% compounded semi-annually. If the company makes payments of $1,700 at the end of every month, how long will it take to settle the loan? a. How many deposits will the company have to make to settle the loan? Round up to the next whole number b. How long will it take to settle the loan? years months E Express the answer in years and months, rounded to the next payment period
General Computers Inc. purchased a computer server for $54,000. It paid 40.00% of the value as a down payment and received a loan for the balance at 4.50% compounded semi-annually. It made payments of $2,800.81 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? 0 payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places.
Dave Krug finances a new automobile by paying $7,300 cash and agreeing to make 30 monthly payments of $460 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Values are Based on: Present Value of Loan n i X = = + Table Factor Cash Down Payment = Present Value of Loan Cost of the Automobile
answer all parts of the question
Pool-N-Patio World needs to borrow $50,000 to increase its inventory for the upcoming summer season. The owner is confident that he will sell most, if not all, of the new inventory during the summer, so he wishes to borrow the money for only four months. His bank has offered him a simple interest amortized loan at 73% interest. (Round your answers to the nearest 4 cent.) (a) Find the size of the monthly bank payment. Interest Portion Total Payment Balance Due (b) Prepare an amortization schedule for all four months of the loan. Principal Portion A A A Payment Number 0 1 2 3 4 A $ A LA +A $ A A A A A $ +A $ +A

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