Homework Answers
| 1- | |||||
| Payment amount | loan amount/PVAF at 6% for 3 years | 35000/2.673 | 13093.90198 | ||
| Period | beginning balance | Principal payment | Interest payment | total payment | ending balance |
| 0 | 35000 | ||||
| 1 | 35000 | 10993.90198 | 2100 | 13093.90 | 24006 |
| 2 | 24006.10 | 11653.54 | 1440.37 | 13093.90 | 12352.56 |
| 3 | 12352.56 | 12352.75 | 741.15 | 13093.90 | -0.19 |
| total | 35000.18635 | 4281.519596 | 39281.70595 | ||
| 2- | |||||
| Payment amount | Using PMT function in MS excel =pmt(rate,nper,pv,fv,type) rate =6% nper =3 pv =35000 fv 0 type =0 | PMT(6%,3,35000,0,0) | ($13,093.84) | ||
| Period | beginning balance | Principal payment | Interest payment | total payment | ending balance |
| 0 | 35000 | ||||
| 1 | 35000 | 10993.90198 | 2100 | 13093.90198 | 24006.09802 |
| 2 | 24006.09802 | 11653.5361 | 1440.365881 | 13093.90198 | 12352.56192 |
| 3 | 12352.56192 | 12352.74827 | 741.1537149 | 13093.90198 | -0.186352413 |
| total | 35000.18635 | 4281.519596 | 39281.70595 |
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Requiremeht1 Complete the data table DATA Loan Amount Interest Rate Periods 35,000 6% Requirement 2 Using...
Dana's Delivery Services is buying a van to help with deliveries.
Long-term notes payable amortization schedule Dana's Delivery Services is buying a van to help with deliveries. The cost of the vehicle is $42,000, the interest rate is 6%, and the loan is for three years. 6 The van is to be repaid in three equal installment payments. Payments are due at the end of each year. Requirements 1. Complete the data table. 2. Using the present value of an ordinary annuity table, calculate the payment amount and complete the amortization schedule. Use the effective...
1. In Cell D8 create formula PMT=PV/((1-1/(1+k)^n)/k), to calculate the periodic payment on a loan. 2....
1. In Cell D8 create formula PMT=PV/((1-1/(1+k)^n)/k), to
calculate the periodic payment on a loan.
2. In cell F8 use built-in function =PMT(k,n,PV). You should get
identical answers.
3. Create amortization table (use absolute and relative
addressing where appropriate).
4. Print worksheet.
5. Change loan amount and the rate (everything should adjust
automatically) and print it again.
6. Print the cell formulas (force to one page).
7. Write report and explain all formulas and procedures.
8. Submit four printouts.
PMT=$1589.99...
PLE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW ADD-INS QuickBooks 614 X f r --PMT(4010/12,011*09,08)...
PLE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW ADD-INS QuickBooks 614 X f r --PMT(4010/12,011*09,08) HT Name: kelly gamer Your score On January 1, 2020 the Kelly Gamer Company borrows $150,000 cash by signing a 5-year, 10%, installment note, with semiannual interest payments. 1) Calculate the amount of each payment using the PMT function. 2) Prepare the amortization schedule for the loan. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer...
C# Create an application that will allow a loan amount, interest rate, and number of finance...
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wity. Amortization schedule Excel Online Structured Activity: Amortization schedule The data on a loan has been...
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8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of each of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year. 1) Calculate the payment the firm must repay each year. 2) Prepare the loan amortization schedule (fill all the numbers in each cell). Beginning Amount Repayment of Remaining...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal paym...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of each of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year. 1) Calculate the payment the firm must repay each year. 2) Prepare the loan amortization schedule (fill all the numbers in each cell). Repayment of Remaining Principal Beginning...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal paym...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of each of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year. 1) Calculate the payment the firm must repay each year. 2) Prepare the loan amortization schedule (fill all the numbers in each cell). Beginning Amount Repayment of Principal...
7. What is the future value of a 25-year ordinary annuity with annual payments of $6,000,...
7. What is the future value of a 25-year ordinary annuity with annual payments of $6,000, evaluated at a 10 percent interest rate? (Annuity, saving for your retirement) 8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of cach of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year....
Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $46,000 at a 4% annual rate of...
Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $46,000 at a 4% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal, annual end-of-year payments Calculate the annual end of year loan payment b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan payments. c. Explain why the interest portion of each payment declines with the passage of time. a. The amount of the...
Long-term notes payable amortization schedule Dana's Delivery Services is buying a van to help with deliveries. The cost of the vehicle is $42,000, the interest rate is 6%, and the loan is for three years. 6 The van is to be repaid in three equal installment payments. Payments are due at the end of each year. Requirements 1. Complete the data table. 2. Using the present value of an ordinary annuity table, calculate the payment amount and complete the amortization schedule. Use the effective...
1. In Cell D8 create formula PMT=PV/((1-1/(1+k)^n)/k), to
calculate the periodic payment on a loan.
2. In cell F8 use built-in function =PMT(k,n,PV). You should get
identical answers.
3. Create amortization table (use absolute and relative
addressing where appropriate).
4. Print worksheet.
5. Change loan amount and the rate (everything should adjust
automatically) and print it again.
6. Print the cell formulas (force to one page).
7. Write report and explain all formulas and procedures.
8. Submit four printouts.
PMT=$1589.99...
PLE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW ADD-INS QuickBooks 614 X f r --PMT(4010/12,011*09,08) HT Name: kelly gamer Your score On January 1, 2020 the Kelly Gamer Company borrows $150,000 cash by signing a 5-year, 10%, installment note, with semiannual interest payments. 1) Calculate the amount of each payment using the PMT function. 2) Prepare the amortization schedule for the loan. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer...
wity. Amortization schedule Excel Online Structured Activity: Amortization schedule The data on a loan has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadshee a. Complete an amortization schedule for a $30,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent Ending...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of each of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year. 1) Calculate the payment the firm must repay each year. 2) Prepare the loan amortization schedule (fill all the numbers in each cell). Beginning Amount Repayment of Remaining...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of each of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year. 1) Calculate the payment the firm must repay each year. 2) Prepare the loan amortization schedule (fill all the numbers in each cell). Repayment of Remaining Principal Beginning...
8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of each of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year. 1) Calculate the payment the firm must repay each year. 2) Prepare the loan amortization schedule (fill all the numbers in each cell). Beginning Amount Repayment of Principal...
7. What is the future value of a 25-year ordinary annuity with annual payments of $6,000, evaluated at a 10 percent interest rate? (Annuity, saving for your retirement) 8. Prepare the loan amortization schedule ($15) You borrow $1,000, and the loan is to be repaid in three equal payments at the end of cach of the next three years. The lender charges a 6 percent interest rate on the loan balance that is outstanding at the beginning of each year....
Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $46,000 at a 4% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal, annual end-of-year payments Calculate the annual end of year loan payment b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan payments. c. Explain why the interest portion of each payment declines with the passage of time. a. The amount of the...
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