our current balance is $20,000. You may use any method to solve this as long as I can verify your answer. Balance Annual Rate Minimum Percentage Minimum Payment monthly rate 20000 22.00% 5.00% $60.00 1.83%

Q: How much will be in an account eaming 10% at the end of 5 years if $100 is deposited today?

A: Amount in Account after 5 years = P( 1+R%)^t  P = Principal or amount deposited initially  R= Rate…

Q: Seven annual payments of $2,500 @ 6%. Please identify which table you used

A: An annuity is a series of identical payments occurring at equal time intervals. When…

Q: Hello! Please help me with as much of this as you can. Thank you! Present Value of an Annuity of $1…

A: Net Present Value = Present Value of Cash Inflows - Initial Investment Cash Payback = Initial…

Q: If you wish to withdraw $200 at the end of EACH of the next 3 years earning 3.5% per year, what…

A: Present Value of annuity refers to the current value of all the series of payments or income at…

Q: Current Attempt in Progress Abe is offered a loan of $24,000 that requires 60 monthly payments of…

A: It looks like you're trying to find the effective annual interest rate for a loan of $24,000 with…

Q: 006's 7,075 6% 0.943 0.890 0.840 0.792 10% 0.909 0.826 0.751 0.683 12% 0.893 0.797 0.712 0.636

A: Amount received = $25,000 Interest rate = 10% Time period = 4 Years

Q: You are offered payments of $475 at the end of each semi-annual period for 6.5 years. You think that…

A: The Present Value of Ordinary Annuity refers to the concept which gives out the discounted or…

Q: The nominal annual rate of interest is compounded quarterly (Round to two decimal places as needed.)

A: The nominal annual rate of interest, also known as the nominal interest rate or stated interest…

Q: You're prepared to make monthly payments of $360, beginning at the end of this month, into an…

A: Given:FV = $25,390P = $360r (monthly interest rate)n=12 (compounded monthly)

Q: What is the future value of 12 periodic payments of $1,000 each made at the beginning of each period…

A: Future value is the expected value of the current sum in a future date at a given rate of interest.…

Q: The value of $60 deposited in a bank for six years at a rate of 10% compounded annually is:

A: Future value = Present value(1 + Rate)^Time

Q: Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for…

A: Amount financed = Purchase price * (1 - Downpayment %)

Q: A single payment of $15,000 @ 5% for 8 years. Please identify which table you used.

A: Present Value(PV) is value of a future amount at current point of time. It is done by discounting…

Q: Complete this question by entering your answers in the tabs below. Req 1A Req 18 Reg 2A S S…

A: The concept of time value of money will be used here. As per this concept the worth of money changes…

Q: Activity 1.1 Directions: Complete thetable by comOting the future value and present value of an…

A: Please see the next step

Q: Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for…

A: Loans are paid by monthly payment and these monthly payments carry the payment of loan and also…

Q: A loan of amount $33300 is to be repaid in payments that each consist of a principal repayment of…

A: Interest refers to an amount that is paid every time along with the principal payment for the…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: To find the size of three equal payments that would replace a single payment of $27,000 due today at…

Q: Please make sure to Data Analytics Project #3 completed before answering this question. Click on the…

A: The annual payment on the loan worksheet = $14,168.37 per yearMonthly payment =$1,169.67 per…

Q: An amortized loan of $95,000 that you took calls for 30 annual payments of $8,000. What is the…

A: Interest rate can be calculated by using the excel formula ''=RATE''

Q: Consider a student loan of $10,000 at a fixed APR of 10% for 5 years. a. Calculate the monthly…

A: Here,LoanAmount (PV) is $10,000Interest Rate (r) is 10%Time Period of Loan (n) is 5 yearsCompounding…

Completing the Accounting cycle

An accounting cycle is a multiple-step process that analyzes, verify, record and summarize the entities financial data. The accounting cycle starts when the transaction occurs between two parties and ends when the transaction is completed. The accounting cycle changes the entity's financial position as it involves identifying, verifying, and recording the financial transaction in chronological order. Financial position is the summary of business transactions that occurred throughout the particular accounting period. The accounting cycle recurs at the beginning of each financial year.