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? $0.00 Round to the nearest cent
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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?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. $132,600Sharapovich 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.
- 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.Zachary's student loan of $28,000 at 4.42% 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 1 year? Round to the nearest centScott'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 cent
- Cameron's student loan of $28,000 at 3.72% 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 centShelby's student loan of $25,500 at 3.32% compounded quarterly was amortized over 6 years with payments made at the end of every month. What was the principal balance on the loan after 5 years? Round to the nearest cent AMatthew 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? O a $201.97 O b. $95.06 Next page
- Nicole's student loan of $26,000 at 4.62% 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 3 years?G CIBC issued a loan of $76,000 at 8.37% compounded semi-annually. The loan was repaid by payments of $1,000 at the end of every month. a. How many payments were required to pay off the loan? (Enter a whole number) b. What was the total principal repaid in the 5th year? (Enter starting and ending periods as P1 and P2 and the total principal repaid as a positive value to the nearest cent.) PL= P2 Total principal repaid in the 5th year $ c. What was the size of the final payment? (Enter a positive value to the nearest cent) Next QuestionBradley received a loan of $32,000 at 4.75% compounded quarterly. She had to make payments at the end of every quarter for a period of 5 years to settle the loan. a. Calculate the size of payments. 0.00 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 Principal Portion Principal Balance Interest Portion Payment $32,000.00 ↑