Matthew has a $32,500 student loan at 4.80% compounded quarterly amortized over 12 years with payments made at the end of every month. What was the principal portion of payment 48?
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- Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
- Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Cash Flow Amounts R. Lee Rouse borrows 10,000 that is to be repaid in 24 equal monthly installments payable at the end of each subsequent month with interest at the rate of 1% per month. Required: Using the appropriate table, calculate the equal installments.A loan of $2982 is repaid in three years. Find the amount of interest paid on the loan if it is compounded quarterly at 10%. Select one: a. $4010.46 b. $2217.28 c. $894.60 d. $1028.46
- Leah received a loan of $35,000 at 3,5% compounded quarterly. She had to make payments at the end of every quarter for a period of 7 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number Payment Interest Portion Principal Portion Principal Balance $35.000.00Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 2 years? $0.00 Question 1 of 6 Round to the nearest centonsider the following loan. Complete parts (a)-(c) below. n individual borrowed $65,000 at an APR of 5%, which will be paid off with monthly payments of $442 for 19 years. ... a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ 65000, the annual interest rate is 5%, the number of payments per year is 12, the loan term is 19 years, and the payment amount is $ 442. b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? There are 228 payments toward the loan and the total amount paid is $ 100776 c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is%. (Round to the nearest tenth as needed.)
- Anna received a loan of $29,000 at 4.5% compounded semi-annually. He had to make payments at the end of every half-year for a period of 6 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number 0 Payment Interest Portion Principal Portion Principal Balance $29,000.00Donna makes annual end of year payments of $5,043.71 on a four year loan with an interest rate of 13 percent. The original principal amount was Lütfen birini seçin: a. $ 3,092. b. $24,462. c. $20,175. d. $15,000.Aaron's student loan of $24,500 at 3.32% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? Round to the nearest cent OD $0.00 ( 0 LA f SUBMIT QUESTION SAVE PROGRESS ↑ SUBM
