payment. How much is the first monthly payment?

Q: OYou are told the effective interest rate on an account is 9.1.%. if the interest is compounded…

A: The question is based on the concept of calculation of effective interest rate with continuous…

Q: Number of Payments Payments Made 36 23 Payments Remaining Sum-of-the- Digits Payments Remaining…

A: Step 1 Loans are repaid in installments or monthly instalments. You repay the money you are lent,…

Q: For the months of January and February, Crane Ltd. recorded cash deposits in its books of $5,100 and…

A: Given that there are no deposits in transit at the beginning of January. Cash deposit in January and…

Q: how did you get the numbers for installment sales?

A: Instalment Method: The installment method is typically employed when a customer is permitted to…

Q: If you're calculating the present value of future payments, you're using an annuity. Is this…

A: The question explains about  the present value of future payments, you're using an annuity.

Q: For the given student loan, find the interest that accrues in a 30-day month, then find the total…

A: It is a case where a student loan is issued and its payment starts after 6 months of completion of…

Q: ompare an ordinary annuity with a prepayment annuity.

A: Annuity is a uniform series of cash flows over a given number of periods.

Q: How do i know if t should be in years or months for fv and annuity fv etc?

A: The time value of money concept states that the value of money has a higher worth today than its…

Q: If the payments are monthly how would you set up the present value?

A: The concept of present value asserts that a sum of money today is worth more than the same sum in…

Q: If a trade payable has a credit term of 2/10, what day is the best day to settle it?

A: Generally businesses offer discount for its creditors  to encourage early payments. Credit term of…

Q: Compute the present value of an ordinary annuity, an annuity due, and a deferred annuity.

A: Computation of the present value (PV) of an ordinary annuity can be done by using the…

Q: What is an annuity? How does it differ from a lump sum payment?

A: Annuity:An annuity refers to a series of payments made at regular time intervals. These are…

Q: Раyment (4.34% paid Раymer paid (2.74% interest) interest) $29,000 automobile with 10% deposit Total…

A: Cost of automobile = $29,000 where  There is a deposit of 10% or $12,000 Assumed: Loan is taken for…

Q: f the interest is compounded monthly then m is equal to?

A: Compound Interest Compound Interest refers to the interest generated on principal as well as on the…

Q: Calculate the loan amount on a purchase having a cash price of $47,900 with a down payment of…

A: Down Payment: The down payment is the portion of the purchase price that you pay out-of-pocket (as…

Q: How much is the premium or discount of the new note payable

A: Premium or discount on the note payable arises due to the fact of that the amount which has been…

Q: Your business requests a 3-month loan for $450,000. What will be the interest paid at the end of the…

A: A loan is a type of debt that a person or another entity assumes. The lender, which is often a…

Q: Write an equation for determining the value of the series of end-of-period payments?

A: Formula:

Q: nuity due is an annuity whose payment is due at the END of each period. TRUE OR FALSE

A: . An annuity is a series of uniform cash flows paid or received at an equal interval over a period…

Q: Which of the following cannot be calculated? Select one: a. the interest rate on perpetuity given…

A: Perpetuity is referred to as an annuity, which does not have an end or the stream of the cash…

Q: What is Annual-payments option?

A: The annual payment option is the obligation to pay the amount to the receiver annual instead of the…

Q: What are the primary characteristics of an annuity? ­Differentiate between an “ordinary annuity” and…

A: Annuity represents a series of equal amount of payment / receipt made on particular interval for a…

Q: what would happen if interest rate is doubled in ordinary annuity?

A: What is an ordinary annuity? An ordinary annuity is a progression of equivalent installments made…

Q: Thinking about various payment terms for Accounts Payable, do you feel it is always valuable for a…

A: The prime rate means the lowest borrowing rate of money.

Q: Do I take the monthly payment and add the interest then divide it to find the total payments? And do…

A: The monthly payments amount of $828.85 that has been computed here will be constant over the next 30…

Q: Recently, you made multiple large purchases on your credit card totaling $10,350. The interest rate…

A: Formulas:

Q: An annuity is a method for calculating the future value of a single payment or a series of payments.…

A: The annuity formula is used to find the present or future value of a series of payment. The present…

Q: What is the primary difference between an ordinary annuity and an annuity due? Group of answer…

A: The primary difference between an ordinary annuity and an annuity due lies in the timing of the…

Q: what is the equation to get the 0.007984 monthly rate.

A: The Rate function in the excel is used in the solution.

Q: Monthly interest rate?

A: Monthly interest rate is the interest charged on the unpaid balance of credit card.

Q: Meghan purchases a retirement annuity that will pay her $1,000 at the end of every six months for…

A: Here, Annuity Payment for first nine years $   1,000.00Compounding period of first nine year…

Q: Can we calculate the total annual interest payment for a credit card by using the future value…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: why do we need to divide 55 days to 365 days for the net recievables and net payable

A: Net Receivables: Net receivables are the total amount of money owing to a firm by its customers…

Q: What is the monthly car payment on a 2 year $19,500 car loan at 7.5% annual interest?

A: In the given question we need to compute the monthly payment on car loan given that: Loan Amount…

Q: What are the Effects of Maturity on Monthly Payments on Fully Amortizing Loans?

A: In fully amortized loan, total loan will be paid off by end of maturity i.e. loan term. Monthly…

Q: How much payment Z should he make on the exact time after the last regular payment has been made to…

A: We have to find the payment Z to be made on the exact time after the last regular payment has been…

Q: Monthly payment of loan b, rounded to the nearest cent

A: Monthly payment for the loan is the amount paid for loan over a time.

Q: What is the monthly house payment on a 10 year $210,000 mortgage at 7% annual interest?

A: In the above problem we needs to calculate the monthly payment on mortgage of $210000

Q: A family has a $142,293, 30-year mortgage at 6.6% compounded monthly. (A) Find the monthly payment…

A: Part (a): Calculation of monthly payment and interest paid: Answer: Monthly payment is $908.77…

Q: How do you calculate quarterly hour system?

A: It may not be true that employees won’t clock in the exact minute of the hour or even leave their…

Q: Accounting Ordinary annuities assume that the first payment is made at the end of each year. In a…

A: Ordinary annuities refers to the series of equal amounted payments which are made at the end of…

Q: E Loan Amount Is $430,000 Loan is a 7/30 Balloon Loan Annual Interest Is 3.75%, with monthly…

A: Given, Loan amount is $430,000 Interest rate is 3.75% Loan is 7/30 balloon loan, which means, after…

Q: O THE STEP 3 FOR ANNUAL PAYM

A: The annual payment is the interest paid to the investor that has invested in the bonds.

Q: You decided to purchase a new appliance by borrowing $1,500 using Home Credit Product Loan which…

A: Loan is a value which is borrowed from external sources for a certain period. This amount is repaid…

Q: In terms of an effective annual interest rate, how can the interest payment be rewritten?

A: An APR (Annual Percentage Rate) is the nominal rate or the stated rate of interest in any financial…

Q: What is the interest rate the borrower will pay after the first rate adjustment?

A: Data given: Start rate = 3.50% Maximum cap for the first year=3% MTA index at the end of the first…