Tricana Corporation borrowed $79,000.00 at 3% compounded quarterly for 8 years to buy a warehouse. Equal payments are made at the end of every 3 months.Determine the size of the quarterly payments.(a)Compute the interest included in payment 12.(b)(c) Determine the principal repaid in payment period 9.(d)Constructpartial amortization schedule showing details of the first three payments, the last three payments, and totals.(a) The size of the quarterly payment is $(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)(b) The interest included in payment 12 is $.(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)(c) The principal repaid in payment period 9 is S.(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)(d) Complete the table below for the first three payments in the schedule.(Do not round until the final answer. Then round to the nearest cent as needed.)Payment NumberAmount PaidInterest PaidPrincipal RepaidOutstanding Principal Balance$79,000.001$3 Complete the table for the last three payments.(Do not round until the final answer. Then round to the nearest cent as needed.)Payment NumberAmount PaidInterest PaidPrincipal RepaidOutstanding Principal Balance303132$0Total Paid = $(Do not round until the final answer. Then round to the nearest cent as needed.)Interest Paid = S(Do not round until the final answer. Then round to the nearest cent as needed.)

The loan here is an amortized loan. An amortized loan is that loan in which interest is charged on…

Tricana Corporation borrowed $79,000.00 at 3% compounded quarterly for 8 years to buy a warehouse. Equal payments are made at the end of every 3 months. (a) Determine the size of the quarterly payments. (b) Compute the interest included in payment 12. (c) Determine the principal repaid in payment period 9. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.

Tricana Corporation borrowed $79,000.00 at 3% compounded quarterly for 8 years to buy a warehouse. Equal payments are made at the end of every 3 months. (a) Determine the size of the quarterly payments. (b) Compute the interest included in payment 12. (c) Determine the principal repaid in payment period 9. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.

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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Question

Tricana Corporation borrowed $79,000.00 at 3% compounded quarterly for 8 years to buy a warehouse. Equal payments are made at the end of every 3 months.
Determine the size of the quarterly payments.
(a)
Compute the interest included in payment 12.
(b)
(c) Determine the principal repaid in payment period 9.
(d)
Construct
partial amortization schedule showing details of the first three payments, the last three payments, and totals.
(a) The size of the quarterly payment is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(b) The interest included in payment 12 is $.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(c) The principal repaid in payment period 9 is S.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(d) Complete the table below for the first three payments in the schedule.
(Do not round until the final answer. Then round to the nearest cent as needed.)
Payment Number
Amount Paid
Interest Paid
Principal Repaid
Outstanding Principal Balance
$79,000.00
1
$
3

Complete the table for the last three payments.
(Do not round until the final answer. Then round to the nearest cent as needed.)
Payment Number
Amount Paid
Interest Paid
Principal Repaid
Outstanding Principal Balance
30
31
32
$0
Total Paid = $
(Do not round until the final answer. Then round to the nearest cent as needed.)
Interest Paid = S
(Do not round until the final answer. Then round to the nearest cent as needed.)

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