You borrowed S3000 at 9% per annum calculated on the unpaid monthly balance and agreed to repay the principal together with interest in monthly payments of $500 each. Construct a complete repayment schedule.Complete the repayment schedule below. (Round to two decimal places as needed.)PrincipalrepaidPaymentBalanceAmountInterestBalancenumberbeforepaidpaidafterpaymentpayment$30001234DODOOOOO

Borrowing = 3000 Interest Rate = 9% Monthly Payment = 500 Monthly Rate = 9%/12 = 0.75%

Answered: You borrowed $3000 at 9% per annum…

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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A debt of $1908 with interest at 6.3% compounded annually is to be repaid by equal payments at the end of each year for 4 years. 1. What is the balance remaining (BAL) after the first payment? 2. What is the principal repaid (PRN) in the first period? 3. What is the interest paid (INT) in the first period?
Take a look at the chart pls..
Note: Round all answers to the nearest cent when necessary. Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Purchase(Cash)Price DownPayment AmountFinanced MonthlyPayment Number ofPayments FinanceCharge TotalDeferredPaymentPrice $2,600 0 $2600 $189.69 18 $814.42 $ ??
Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 60 $ fill in the blank 61 $ fill in the blank 62 $ fill in the blank 63 $ fill in the blank 64 2 $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 $ fill in the blank 69 3 $ fill in the blank 70 $ fill in the blank 71 $ fill in the blank 72 $ fill in the blank 73 $ fill in the blank 74 4 $ fill in the blank 75 $ fill in the blank 76 $ fill in the blank 77 $ fill in the blank 78 $ fill in the blank 79
You have taken a loan of $6,000.00 for 3 years at 2.9% compounded monthly. Fill in the table below: (Round all answers to 2 decimal places.) Payment number Payment amount Principal Amount Interest Balance 0) $6,000.00 1) $ 2) 3) $ $
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Halep Inc. borrowed $39,070 from Davis Bank and signed a 1-year note payable stating the interest rate was 8% compounded annually. 1. Using the Present Value of an Annuity of 1 TABLE4 or Figure B2 in the textbook E, calculate the factor. 2. Next, determine the annual payment amount. 3. Then, determine the interest portion of the payment for year 1. 4. Finally, determine the principal portion of the payment for year 1. Round to the nearest penny, two decimal places.
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