You borrow money on a self liquidating installemnt loan (equal payments at the end of each year, each payment is part principal part interest) Loan Interest Rate Life (years) Date of Loan $902,000 12...
2 You borrow money on a self liquidating installemnt loan (equal payments at the end of each year, each payment is part principal part interest) 3 Loan 4 Interest Rate 5 Life (years) 6 Date of Loan $292,000 15.30% 42 January 1, 2018 9 Use the installment method not straight line 10 Do NOT round any interrmediate numbers 11 Do NOT turn this into a monthly problem. 12 13 a) What is the annual payment? 14 b What are the...
please Help! You borrow money on a self liquidating installement loan (equal payments at the end of each year, each payment is part principal part interest) I also need the excel formulas . Please do it on excel. You bomow money on a self liquidating instalent loan (equal payments at the end of each year, each payment is part principal part interest Loan $312,000 Interest Rate 13 30% Life years) Date of Loan January 1, 2020 Use the installment method...
This is an accounting project for my class. Can I please have the answers for each question and formulas? Not specific. Just the general formulas used for an annual payment, total interest payment, percentage of the total interest paid after 27 have been made. Thank you. Use the following check digits: Sum Total Cash flow = Sum interest paid Owe at end = $0 Sum Principal repaid = amount borrowed Sum Total Payment = Sum Interest paid + Sum principal...
Accounting Question $943,000 Loan Interest Rate Life (years) Date of Loan 43 Use the installment method - not straight line Do NOT round any interrmediate numbers. Do NOT turn this into a monthly problem. a) What is the annual payment? b) What are the total interest payments? c) After 17 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? d) After 17 payments have been made, what percentage of the...
Please include excel formulas/steps/directions for each part and where I should input the formulas. Don't just give the answers. It'd probably be best if you post your own spreadsheet for reference as well, with formulas included. I need a well designed spreadsheet. Thank you! 2 3 You borrow money on a self liquidating installent loan (equal payments at the end of each year, each payment is part principal part interest) Loan $137,000 Interest Rate 10.40% Life (years) Date of Loan...
You took a 5 year, $100,000 loan. The loan has equal principal payments. The loan carries a 6% annual interest rate and is paid back in annual payments. 1. What is the outstanding balance of the loan after 3 years? 2. Compute an amortization table for the loan. 3. What is the interest payment on the fourth installment?
I need the payments, interest in payments, principal repaid, prinicipal owing at end of year for both year 1 and 2. Hep You borrow $400,000 to buy a house over a 25-year term. The loan is structured as an amorrtized loan with anmual payments and an interest rate of 11% Complete the cells in the amortization schedule, below Interest in Principal Principal Owing at End of Year ($) Year Payment (S) Repaid (5) Payment () 1 Principal Repaid () Interest...
Consdera $35.000 loan to be repaid in equal installments at the end of each of the next years. The rest is a Set up an amortization schedule for the loan. Do not round intermediate calculations, Round your answers to the nearest cent. If netry is required, enter Repayment Interest Regayment of Principal Balance Total . How large must each annual payment be if the loan is for $70,0007 Assume that the interest rate remains round intermediate calculations. Round your answer...
Loan Amortization Your company is planning to borrow $2.25 million on a 5-year, 8%, annual payment, ly amortize term loan. What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places Loan Amortization Assume that your aunt sold her house on December 31, and to his close the sale she took a second mortgage in the amount of $30,000 as part...
The debt is amortized by equal payments made at the end of each payment interval Compute(a) the stre of the periodic payments) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal Debt Principal Repayment Payment Conversion Period Interest Rate Outstanding Interval Period Principal After $13,000 5 years 3 months quarterly 8th payment (a) The...