9. Martin company purchased an equipment in exchange of an installment note, promising to pay $16.000 at the end of each year for a period of 4 years. The implicit rate of interest6%) What is the balance of the Note Payable after the first annual payment (round to the nearest dollar)? A) $42,768 B) $38,195 $41,229 D) $41,989

A5 A 12-year loan is repaid with annual payments at the end of each year. For the first four years, each payment is X; for the next four years, each payment is 3X; for the final four years each payment is 2X. The amount of interest due in the fifth payment is twice as much as the interest due in the 9th payment. Find i, the (non-zero) annual effective interest rate, rounded to two decimal places after converting to a percentage.   Please solve using steps and definitions, not Excel spread sheet.

A businessman obtains a loan of $100,000 for a 5-year term with an interest rate of 7% per year, compounded quarterly, which must be paid in quarterly installments by the French amortization system. If the interest rate is reset to 6% annually compounded quarterly after payment 16; determines the value of the new quarterly installment. 1) $2356.87 2) $5932.82 3) $6947.23 d) $5,532.76 e) $4,578.92

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. Annual Period  Interest Expense Annual Payment Principal Payment Ending Balance 1 $1,200.00 $8,264.70 $7,064.70 $22,935.30 2 $917.41 $8,264.70 $7,347.29 $15,588.01 3 $623.52 $8,264.70 $7,641.18 $7,946.83 4 $317.87 $8,264.70 $7,946.83 $0     Principal Payment Cash Interest Income LT Notes Payable Annual Payment Interest Expense provide the journal entry for the first year payment: DR     DR/CR?     CR

Suppose you inherit $100,000 at age 25 and immediately invested in a growth fund who’s annual rate of return average is 13%. Five years later, you transfer all proceeds from the scrubs fun into a long-term IRA that pays an average annual rate of 8%. Immediately you start making additional contributions of $7000 per year to the same IRA. Assuming continuous interest, steady interest rates, and a perfect record of making annualcontributions, how much is this IRA worth when you reach the age of 65? The formula that will need to be used is A = P e^r*t + D/r (e^r*t - 1). Hint: use the continuous interest formula to find the accumulated amount for the first five years, which is then the annual investment, P, into the IRA. 

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25 A company purchases a piece of machinery by issuing a $300,000 five-year note payable. The stated and effective annual interest rates are both 6%, and monthly installment payments are $5,800. What is the balance in the Notes Payable account after two payments have been made? $288,400 O $291,379 $295,700 $300,000 NEXT > BOOKMARK

TORR, Inc. issues a $600,000, 9%, five-year note payable on January 1, 20X1. If the monthly payment is $12,455, what is the note's carrying value after the first month's payment is made on January 31, 20X1?   Select one: a. $600,000 b. $592,045 c. $593,540 d. $595,500 e. $587,545

TORR, Inc. issues a $300,000, 6%, five-year note payable on January 1, 20X1. If the monthly payment is $5,800, what is the note's carrying value after the first month's payment is made on January 31, 20X1?   Select one: a. $294,200 b. $300,000 c. $298,500 d. $295,700 e. $298,214

The proceeds of a $9000, 8 year promissory note earning 5% compounded semi-annually were 10,475. How many years before maturity date was note sold if the discounted rate was 7.2% compounded annually?