n in an amortization table (in dollers) for a loan of $8,500 to be paid back over 2 years, at an annual interest rate of 1.3%, compounded quarterly. For each value in the table, round your answer to the nearest cent and use this value to calculate the next value Payment number Payment amount Payment amount Payment amount to interest Outstanding principal to debt $0.500 14

n in an amortization table (in dollers) for a loan of $8,500 to be paid back over 2 years, at an annual interest rate of 1.3%, compounded quarterly. For each value in the table, round your answer to the nearest cent and use this value to calculate the next value Payment number Payment amount Payment amount Payment amount to interest Outstanding principal to debt $0.500 14

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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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
Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $407,550 5.25% 35 $2122.29 Month Monthly payment Interest Principal End-of-month principal 1 $2122.29 $enter your response here $enter your response here $enter your response here 2 $2122.29 $enter your response here $enter your response here $enter your response here
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; $14,000
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Consider a loan of $8,000 charging interest at j12-6% with monthly payments of $321.50 Calculate the missing amounts in the amortization table. Place the value for A in the first answer box, B in the second and C in the third. PMT Interest Principall Balance 8,000.00 1321.50 40.00 281.50 7,718.50 2 321.50 A C
Use the amortization table to determine how much interest is paid in the first 4 months of the loan. Click the icon to view the amortization table. $ (Type an integer or a decimal.) Amortization Table Payment Number 0 1 2 3 4 5 6 7 8 9 10 11 12 Amortization Table Amount of Payment $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.13 Print Interest for Period $12.50 $11.49 $10.47 $9.44 $8.42 $7.38 $6.34 $5.30 $4.25 $3.20 $2.14 $1.07 Portion to Principal $202.67 $203.68 $204.70 $205.73 $206.75 $207.79 $208.83 $209.87 $210.92 $211.97 $213.03 $214.06 Done Principal at End of Period $2500.00 $2297.33 $2093.65 $1888.95 $1683.22 $1476.47 $1268.68 $1059.85 $849.98 $639.06 $427.09 $214.06 $0.00
Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 5 4 1 2 years $
Write out a complete schedule for the amortization of a $50,000 loan with payments every 6 months at 14% interest compounded semiannually for 1 year. Complete the schedule below. Payment number Amount Interest 1 $ $ 2 S $ (Round to the nearest cent as needed.) Applied to principal $ $ Unpaid Balance $ $
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onsider the following loan. Complete parts (a)-(c) below. n individual borrowed $65,000 at an APR of 5%, which will be paid off with monthly payments of $442 for 19 years. ... a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ 65000, the annual interest rate is 5%, the number of payments per year is 12, the loan term is 19 years, and the payment amount is $ 442. b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? There are 228 payments toward the loan and the total amount paid is $ 100776 c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is%. (Round to the nearest tenth as needed.)
Consider a loan of $2.5 million that is paid quarterly over a period of 10 years. Calculate the dollar amount of interest and loan principal repaid corresponding to each payment if the interest rate is 9% per year, compounded quarterly. What is the 5th Quarter Interest and also the 5th Quarter Principal Repayment respectively O a $157,274.15 and $232,276.07 O b. $97,158.12 and $95,032.24 O c. $46,919.62 and $32,752.85 O d. $52,601.74 and $42,841.70