Homework Answers
Add Answer to:
Lionel purchased a machine for $25,000 for his company. He paid 5.00% of this amount as...
Jasmine purchased a machine for $29,500 for her company. She paid 5.00% of this amount as...
Jasmine purchased a machine for $29,500 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 6.12% compounded monthly. She paid $1,125 at the end of every month to settle the loan. What was the principal portion of payment number 4? What was the interest portion of payment number 4?
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Melissa received a loan of $9,000 at 6.50% compounded quarterly. She had to make payments at...
Melissa received a loan of $9,000 at 6.50% compounded quarterly. She had to make payments at the end of every quarter for a period of 1 year to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the amortization schedule, rounding the answers to two decimal places. Amount Paid Payment Number Interest Portion Principal Portion Principal Balance $9,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00...
Question 3 of 6 Tan Company purchased a large server for $40,500. The company paid 40.00%...
Question 3 of 6 Tan Company purchased a large server for $40,500. The company paid 40.00% of the value as a down-payment and received a loan for the balance at 5.00% compounded monthly. The loan has a term of 3 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Question 2 of 4 Tan Company purchased a large server for $37,500. The company paid 50.00%...
Question 2 of 4 Tan Company purchased a large server for $37,500. The company paid 50.00% of the value as a down-payment and received a loan for the balance at 4.25% compounded monthly. The loan has a term of 6 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Question 5 of 6 Tan Company purchased a large server for $39,000. The company paid 45.00%...
Question 5 of 6 Tan Company purchased a large server for $39,000. The company paid 45.00% of the value as a down-payment and received a loan for the balance at 4.50% compounded monthly. The loan has a term of 3 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? Round to the nearest cent b. What was the total amount paid to settle the loan? Round to...
b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal...
b.
Fill in the partial amortization schedule for the loan, rounding
your answers to two decimal places.
General Computers Inc. purchased a computer server for $58,500. It paid 35.00% of the value as a down payment and received a loan for the balance at 7.50% compounded semi-annually. It made payments of $2,050.27 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? o payments Round up to the next payment...
Question 1 of 4 Cameron purchased a house for $450,000. He made a down payment of...
Question 1 of 4 Cameron purchased a house for $450,000. He made a down payment of 30.00% of the value of the house and received a mortgage for the rest of the amount at 4.32% compounded semi-annually amortized over 25 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. $0.00 Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. $0.00 Round to the...
Question 4 of 5 A $85,000 loan was amortized over 14 years at 4.00 % compounded...
Question 4 of 5 A $85,000 loan was amortized over 14 years at 4.00 % compounded annually. Payments were made at the end of every month to clear the loan. a. What is the size of the payments at the end of every month? $0.00 Round to the nearest cent b. What was the balance at the end of 4 years? $0.00 Round to the nearest cent c.What was the interest portion of payment 84? $0.00 Round to the nearest...
Wade Ellis buys a new car for $16,135.79. He puts 10% down and obtains a simple...
Wade Ellis buys a new car for $16,135.79. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2 (a) Find his monthly payment. interest for four years. (Round your answers to the nearest cent.) (b) Find the total interest. (c) Prepare an amortization schedule for the first two months of the loan. Payment Number Principal Portion Interest Portion Total Payment Balance 0 $ 1 $ $ $ $ 2 $ $ $ $
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Melissa received a loan of $9,000 at 6.50% compounded quarterly. She had to make payments at the end of every quarter for a period of 1 year to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the amortization schedule, rounding the answers to two decimal places. Amount Paid Payment Number Interest Portion Principal Portion Principal Balance $9,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00...
Question 3 of 6 Tan Company purchased a large server for $40,500. The company paid 40.00% of the value as a down-payment and received a loan for the balance at 5.00% compounded monthly. The loan has a term of 3 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Question 2 of 4 Tan Company purchased a large server for $37,500. The company paid 50.00% of the value as a down-payment and received a loan for the balance at 4.25% compounded monthly. The loan has a term of 6 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Question 5 of 6 Tan Company purchased a large server for $39,000. The company paid 45.00% of the value as a down-payment and received a loan for the balance at 4.50% compounded monthly. The loan has a term of 3 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? Round to the nearest cent b. What was the total amount paid to settle the loan? Round to...
b.
Fill in the partial amortization schedule for the loan, rounding
your answers to two decimal places.
General Computers Inc. purchased a computer server for $58,500. It paid 35.00% of the value as a down payment and received a loan for the balance at 7.50% compounded semi-annually. It made payments of $2,050.27 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? o payments Round up to the next payment...
Question 1 of 4 Cameron purchased a house for $450,000. He made a down payment of 30.00% of the value of the house and received a mortgage for the rest of the amount at 4.32% compounded semi-annually amortized over 25 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. $0.00 Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. $0.00 Round to the...
Question 4 of 5 A $85,000 loan was amortized over 14 years at 4.00 % compounded annually. Payments were made at the end of every month to clear the loan. a. What is the size of the payments at the end of every month? $0.00 Round to the nearest cent b. What was the balance at the end of 4 years? $0.00 Round to the nearest cent c.What was the interest portion of payment 84? $0.00 Round to the nearest...
Most questions answered within 3 hours.
-
What is meant by a “term premium”?
What can explain such a premium? Is it a...
asked 1 hour ago -
23. Which molecule has only covalent bonds? A. CO2 B. Al2O3 C.
Mg3N2
24. The octet...
asked 1 hour ago -
the
total pressure for a mixture of N2O4 and NO2 is 2.20 atm. If Kp=
7.10...
asked 2 hours ago -
Delaware Corp. prepared a master budget that included $22,385
for direct materials, $28,600 for direct labor,...
asked 1 hour ago -
For pesticide HCB (hexachlorobenzene), its logarithmic partition
coefficient log Kow is 5.6. What would be the...
asked 2 hours ago -
A chemist requires 0.422 mil Na2CO3 for a reaction. How many
grams does this correspond to?
asked 2 hours ago -
If the vapor pressure of carvone is approximately 9.4 torr at 99
°C, approximately how much...
asked 2 hours ago -
A juice bottling company is carrying out a test at 10%
significance that the mean population...
asked 2 hours ago -
What is the reflectivity (in percent) needed to keep water at a
temperature near its freezing...
asked 2 hours ago -
Suppose that the average surface temperature of Earth is 300K.
Assume this is uniform over its...
asked 2 hours ago -
Draw the condensed structural formula for alkenes and alkynes or
the line-angle structural formula for cycloalkenes...
asked 2 hours ago -
M. Laing has suggested a new arrangement of the periodic table
(J.Chem.Ed.1989, 66,
746). Answer the following...
asked 2 hours ago