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![Page No. We will use the following formula pa Poxrxt [ 1 - (1+y)+] where, Po Amount of loan $24,100 semi-annual rate : 3.28./](http://img.homeworklib.com/questions/38ef67e0-f6cf-11ea-a49d-2d402276a266.png?x-oss-process=image/resize,w_560)
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4 of 13 A loan of $24,100 at 3.28% compounded semi-annually is to be repaid with...
A loan of $1730 at 9.75% interest compounded semi-annually is to be repaid in four years...
A loan of $1730 at 9.75% interest compounded semi-annually is to be repaid in four years in equal semi-annual payments. Complete an amortization schedule for the first four payments of the loan. Adjust the final payment so the balance is zero. Fill out the amortization schedule below. (Round to the nearest cent as needed. Do not include the $ symbol in your answers.) Payment Amount of Interest for Portion to Principal at Number End of Payment Period Principal Period $1730...
A design studio received a loan of $9,650 at 4.60% compounded semi-annually to purchase a camera....
A design studio received a loan of $9,650 at 4.60% compounded semi-annually to purchase a camera. If they settled the loan in 3 years by making quarterly payments, construct the amortization schedule for the loan and answer the following questions: a. What was the payment size? Round to the nearest cent b. What was the size of the interest portion on the first payment? Round to the nearest cent c. What was the balance of the loan at end of...
A demand loan for S4344.43 with interest at 4.7% compounded semi-annually is repaid after 5 years,...
A demand loan for S4344.43 with interest at 4.7% compounded semi-annually is repaid after 5 years, 8 months. What is the amount of interest paid? The amount of interest is $0 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
4. A loan of $14,000 with interest at 12% compounded annually is repaid by payments of...
4. A loan of $14,000 with interest at 12% compounded annually is repaid by payments of $856.00 made at the end of every month. (a) How many payments will be required to amortize the loan? (b) If the loan is repaid in full in 1 year, what is the payout figure? (c) If paid out, what is the total cost of the loan? (a) The number of payments required to amortize the loan is (Round up to the nearest whole...
A demand loan for $11,243.38 with interest at 9.9% compounded annually is repaid after 4 years,...
A demand loan for $11,243.38 with interest at 9.9% compounded annually is repaid after 4 years, 11 months. What is the amount of interest paid? The amount of interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
A company borrowed $14,000 paying interest at 6% compounded annually. If the loan is repaid by...
A company borrowed $14,000 paying interest at 6% compounded annually. If the loan is repaid by payments of $2100 made at the end of each year, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Outstanding Number Amount Paid Interest Paid Principal Repaid Principal $2100 $2100...
Sophie received a $32,750 loan from a bank that was charging interest at 4.50% compounded semi-annually....
Sophie received a $32,750 loan from a bank that was charging interest at 4.50% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 4 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 4-year period? Round to the nearest cent
A loan charging 6% interest compounded semi-annually, was repaid in three installments in 1 year: one...
A loan charging 6% interest compounded semi-annually, was repaid in three installments in 1 year: one $300 payment after 6 months; one $500 payment after 8 months; and a final payment of $1200 at the end of the year. What was the value of the original loan?
A demand loan of $6000.00 is repaid by payments of $3000.00 after two years, $3000.00 after four years, and a final payment after eight years. Interest is 5% compounded semi-annually for the first two years, 6% compounded annually for the next two years,
A demand loan of $6000.00 is repaid by payments of $3000.00 after two years, $3000.00 after four years, and final payment after eight years. Interest is 5% compounded semi-annually for the first two years, 6% compounded annually for the next two years, and 6% compounded semi-annually thereafter. What is the size of the final payment?
A $33,950 loan at 10.6% compounded semi-annually is to be paid off by a series of...
A $33,950 loan at 10.6% compounded semi-annually is to be paid off by a series of $4,000 payments that will be made at the end of every six months. How much of the first payment will be credited towards reduction of the principal?
A loan of $1730 at 9.75% interest compounded semi-annually is to be repaid in four years in equal semi-annual payments. Complete an amortization schedule for the first four payments of the loan. Adjust the final payment so the balance is zero. Fill out the amortization schedule below. (Round to the nearest cent as needed. Do not include the $ symbol in your answers.) Payment Amount of Interest for Portion to Principal at Number End of Payment Period Principal Period $1730...
A design studio received a loan of $9,650 at 4.60% compounded semi-annually to purchase a camera. If they settled the loan in 3 years by making quarterly payments, construct the amortization schedule for the loan and answer the following questions: a. What was the payment size? Round to the nearest cent b. What was the size of the interest portion on the first payment? Round to the nearest cent c. What was the balance of the loan at end of...
A demand loan for S4344.43 with interest at 4.7% compounded semi-annually is repaid after 5 years, 8 months. What is the amount of interest paid? The amount of interest is $0 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
4. A loan of $14,000 with interest at 12% compounded annually is repaid by payments of $856.00 made at the end of every month. (a) How many payments will be required to amortize the loan? (b) If the loan is repaid in full in 1 year, what is the payout figure? (c) If paid out, what is the total cost of the loan? (a) The number of payments required to amortize the loan is (Round up to the nearest whole...
A demand loan for $11,243.38 with interest at 9.9% compounded annually is repaid after 4 years, 11 months. What is the amount of interest paid? The amount of interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
A company borrowed $14,000 paying interest at 6% compounded annually. If the loan is repaid by payments of $2100 made at the end of each year, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Outstanding Number Amount Paid Interest Paid Principal Repaid Principal $2100 $2100...
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