One retailer charges $1027 for a certain computer. A firm of tax accountants buys 7 of these computers. It makes a do balance with monthly payments at 9% interest for 5 years. Prepare an amortization schedule showing the first four mo Write the equation that can be used to find the amount of each monthly payment. PV• 0.0075 PMT = where PV = 6089 - 12(5) .09 1-1+ 12 (Type integers or decimals.) Fill out the amortization schedule below. Assume monthly payments and round all values to the nearest cent. Principal at Payment Amount of Interest for Portion to Number Payment End of Period Principal Period $6089.00

Q: Principal amount is $10,000, interest rate is 5% and the term is six months. What is the interest…

A: INTEREST EXPENSE Interest expense is reported under the income statement of the company. Interest…

Q: What amount is required to invest to work between three semesters and at a rate of 16.255% per…

A: Rate is 16.255% per semester monthly capitalization Total amount is $70,866.31 To Find: Amount…

Q: What is the accumulated sum of $200 a year for the next 15 years compounded annually at 7.5%?

A: Annuity referes to a series of regular payment for a definite period. If payments are made at the…

Q: Find the savings plan balance after 12 months with an APR of 5% and monthly payments of $300. The…

A: Monthly payment (C) = $300Monthly interest rate (r) = 0.00416666666666667 (i.e. 0.05 / 12)Monthly…

Q: Calculate the effective rate of interest.

A: Information Provided: Rate = 4% Period = 13 weeks Principal = $12,000

Q: Calculate the present value of 120 payments of $50.00 made at the end of each of 120 consecutive…

A: This is an annuity in which the annuity amount is $50, n = 120 and r = 12%/12 (as compounded…

Q: If you invested $12,000 for ten years at 7.25% p.a. compounded fortnightly, how much in total would…

A: FV = PV* (1 + r / n)nt Where, PV = Present value FV = Future value r = Rate of interest (percentage…

Q: an Please Help Me: Engineering Economics/Civil Engineering 60 minutes only the given time. Wish you…

A: In this we have to use future value formula and calculate the time required.

Q: How many times is the interest calculated in five years if the principal is compounded monthly?

A: This is a case of compound interest.   In case of compound interest, the interest amount for a…

Q: If you deposit $620 every month for the next 9 years, with first deposit to be made today and all…

A: The given problem relates to concept of annuity. An annuity is a series of uniform cash flows over a…

Q: How long will it take $2,000 to reach $5,600 when it grows at 10 percent per year? (Do not round…

A: Future Value refers to the compounded value of a single cash flow received today or multiple cash…

Q: 35. Upland Family Practice Center plans to invest $60,000 in a money market account at the beginning…

A: 3This question is based on annuity due concept where the cashflow stream starts at beginning of each…

Q: A sum of money invested at 2% per 6-month period (semiannually) will double in amount in…

A: The worth of today’s dollar at a future date is the future value of the dollar. For example, the…

Q: A calendar quarter consists​ of:   A. 12 weeks.   B. 13 weeks.   C. 4 months.   D. 14 weeks.

A: The operations of the business generally happen within twelve months or a year of the operating…

Q: Determine the present value of a debt of $12,000 due in four months if interest at 434% is…

A: Future value = fv = $12,000 Time = t = 4 / 12 = 1/3 years Interest rate = r = 434%

Q: An investment offers to triple your money in 28 months. What rate in percent for three months are…

A: This is based on the concept of compounding. A sum of money invested today grows in future due to…

Q: The cost of a college education is currently $15,000 per year. The expected annual inflation rate…

A: To cover a $15,000 college education in 5 years with 3% annual inflation, you need to deposit…

Q: consider a student loan of 17,500 at a fixed apr of 12% for 25 years. what is the monthly payment

A: Annuity refers to series of annual payment which are paid or received at start or end of specific…

Q: How much should Mang Juan deposit in his account every month to accumulate 1,000,000 in 15 years if…

A: Given information : Expected amount 1000000 Time period 15 Interest rate 7% Effective…

Q: What is the accumulated sum of $12 a year for the next 8 years compounded annually at 10%?

A: The amount that a present investment will gain in value over time when kept in a compound interest…

Q: Find the savings plan balance after 4 years with an APR of 2​% and monthly payments of ​$200.

A: Solution:- When an equal amount of money is invested each period, it is called annuity. We know,…

Q: Which of the following would indicate the BEST Average Collection Period? 30 days 20 days 25 days 15…

A: Accounts receivables means those customer accounts to whom business has made credit sales on…

Q: 5,100 invested for 9 years at 9% componded annually will accumulate to?

A: Interest is the opportunity cost calculated on the principal amount for the mentioned time period.…

Q: If you save $100 at the beginning of every month for seven years, for how long can you withdraw $260…

A: The objective of this question is to find out how long you can withdraw $260 at the beginning of…

Q: My student loans totaled $85, 000, and requires monthly payments of $943.67, at a 6% annual interest…

A: To determine the interest expense for first month we will use the following formula:Interest expense…

Q: To what amount will ​$4,900 invested for 9 years at 10 percent compounded annually​ accumulate?

A: We need to use compounding interest formula given below to calculate amount A=P(1+i)n where A=Amount…

Q: Assume the $15,000 Treasury bill, 4% for 13 weeks. Calculate the effective rate of interest.

A: Information Provided:Rate = 4%Period = 13 weeksPrincipal = $15,000