Payment NumberP2"*Payment⠀⠀$0.00$0.00Interest Portion Principal Portion Principal Balance$0.00$0.00$0.00$0.00⠀⠀$35,100.00$0.00$0.00:::: General Computers Inc. purchased a computer server for $58,500. It paid 40.00% ofthe value as a down payment and received a loan for the balance at 8.00%compounded semi-annually. It made payments of $2,650.41 at the end of everyquarter to settle the loan.a. How many payments are required to settle the loan?o paymentsRound up to the next paymentb. Fill in the partial amortization schedule for the loan, rounding your answers to twodecimal places.

Step 1 An amortized bond is one in which, during the course of the bond's existence, both the…

Answered: General Computers Inc. purchased a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...

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Using the information provided, what transaction represents the best application of the present value of an annuity due of $1? A. Falcon Products leases an office building for 8 years with annual lease payments of $100,000 to be made at the beginning of each year. B. Compass, Inc., signs a note of $32,000, which requires the company to pay back the principal plus interest in four years. C. Bahwat Company plans to deposit a lump sum of $100.000 for the construction of a solar farm In 4 years. D. NYC Industries leases a car for 4 yearly annual lease payments of $12,000, where payments are made at the end of each year.
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.
Electro Corporation bought a new machine and agreed to pay for it in equal annual installments of 5,000 at the end of each of the next 5 years. Assume a prevailing interest rate of 15%. The present value of an ordinary annuity of 1 at 15% for 5 periods is 3.35. The future amount of an ordinary annuity of 1 at 15% for 5 periods is 6.74. The present value of 1 at 15% for 5 periods is 0.5. How much should Electro record as the cost of the machine? a. 12,500 b. 16,750 c. 25,000 d. 33,700
General Computers Inc. purchased a computer server for $70,000. It paid 35.00% of the value as a down payment and received a loan for the balance at 4.50% compounded semi-annually. It made payments of $2,850.75 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two Question 3 of 7 b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number 0 1 2 Payment Interest Portion Principal Portion Principal Balance $45,500.00 11
General Computers Inc. purchased a computer server for $57,500. It paid 35.00% of the value as a down payment and received a loan for the balance at 10.50% compounded semi-annually. It made payments of $2,450.35 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? 0 payments Round up to the next payment 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 0 $37,375.00 1 $0.00 $0.00 $0.00 $0.00 2 $0.00 $0.00 $0.00 $0.00 : : : : : :
General Computers Inc. Purchased a computer server for $72,000. It paid 30.00% of the value as a down payment and received a loan for the balance at 7.50 compounded semi annually. It made payments of $2,650.32 at the end of every quarter to settle the loan. A. How many payments are required to settle the loan? compounded
General Computers Inc. purchased a computer server by taking a loan of $33,000 at 2.25% compounded semi-annually. It made payments of $2,700 at the end of every half-year to settle the loan. a. How many payments are required to settle the loan? Round to the next payment b. Complete the partial amortization schedule, rounding the answers to the nearest cent. Payment Number Payment terest Portion Principal Portion Principal Balance $33,000 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 :: :: :: :: :: S0.00 0. S0.00 $0.00 $0.00 $0.00 0. $0.00 $0.00 $0.00 0.00 $0.00 $0.00 0. Total ->
General Computers Inc. purchased a computer server by taking a loan of $36,500 at 3,50% compounded semi-annually. It made payments of $2,250 at the end of every half-year to settle the loan. a. How many payments are required to settle the loan? Round to the next payment b. Complete the partial amortization schedule, rounding the answers to the nearest cent. Payment Number Payment Interest Portion Principal Portion Principal Balance $36,500 0.00 00 00
General Computers Inc. purchased a computer server for $60,500. It paid 45.00% of the value as a down payment and received a loan for the balance at 9.00% compounded semi-annually. It made payments of $2,100.12 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? Round up to the next payment
LEW Company purchased a machine at a price of $100,000 by signing a note payable, which requires a single payment of $123,210 in 2 years. Assuming annual compounding of interest, what rate of interest is being paid on the loan?
A bakeshop obtains a loan of P500,000 with interest at 8% compounded quarterly for the construct of a new branch in Angeles, City. The owner will repay the loan by payments made quarterly for 2 ½ years. Create an amortization schedule to answer the following questions. 1.How much is the total interest? 2.How much is the present outstanding balance on the 7th payment period? 3.How much principal repayment paid in the 9th payment period? 4.How much is the interest paid in the 5th payment? 5.Find the quarterly payment.
General Computers Inc. purchased a computer server by taking a loan of $33,000 at 3.50% compounded semi-annually. It made payments of $2,900 at the end of every half-year to settle the loan. a. How many payments are required to settle the loan? Round to the next payment b. Complete the partial amortization schedule, rounding the answers to the nearest cent. Payment Number Payment Interest Portion Principal Portion Principal Balance $33,000 $0.00 $0.00 $0.00 $00 1. $0.00 $0.00 $0.00 $0.00 :: :: :: :: :: :: :: $0.00 :: s0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00 $0.00 s0.00 Total

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