An, Inc., plans to borrow $50,000 from a bank at 12% interest for new .recording equipment. Compute the total amount due after 7 years $111.578. $109.534. O $110.534. $106.345.
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- a) The Hendrix Company needs to repay a note payable of $1.500.000. The company will make annual deposits of $100,000 into a savings account at the end of each of the next 10 years. Assuming that the savings account earns 8% interest compounded annually, will the fund balance be sufficient to repay the debt? n = 10 years 6=8%On a loan of $1400, interest at 9% effective must be paid at the end of each year. The borrower also deposits $X at the beginning of each year into a sinking fund earning 4.7% effective. At the end of 10 years the sinking fund is exactly sufficient to pay off the loan. Calculate X. A. $ 1617.11 B. $ 1078.07 C. $ 1347.59 D. $ 1724.92 E. $ 1232.09A bank has agreed to lend you $127,800 for a home loan. The loan will be fully amortized over 57 years at 12.98%, with .13 points. The loan payments will be monthly. The closing cost is estimated to be $2,168. Calculate the loan principal. $130,063.66 $130.137.18 $130,181.52 $130,144.37 None of the answers are correct
- JG Asset Services is recommending that you invest $1,400 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures? Select the correct answer. a. $1,645.16 b. $1,649.56 c. $1,662.76 d. $1,658.36 e. $1,653.96Libra Ltd borrowed $120 000 from its local bank to finance their operation. Annual payments are required over seven years at a fixed interest rate of 10% p.a. How much is each annual payment? $27 398.18 $22 594.64 $24 648.66 $29 077.23Peachtree Company borrows $40,000 from the local bank at 8% interest. The term of the note is 5 years, and the annual payments remain constant at $10,018. Determine the interest expense Peachtree Company should record in the second year. O a. $2,655 O b. $6,818 OC. $3,200 O d. $10,018
- 5. General Computers Inc. purchased a computer server for $56,000. It paid 35.00% of the value as a down payment and received a loan for the balance at 10.00% 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 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 $36,400.00 1 2 : : : : : : : : : : : : : : : : : : : : 0.00 TotalA 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.The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses? Select one: a. None of the other points b. OMR 12,400 c. OMR 1,500,000 d. OMR 31,000
- Use the amortization table below to answer the following questions. The loan is for 5 years at 5.5% interest on a $30,000 car. Year Interest Principal Balance2011 $1,516.22 $5,360.20 $24,639.802012 $1,213.86 $5,662.56 $18,977.242013 $894.45 $5,981.97 $12,995.272014 $557.02 $6,319.40 $6,675.872015 $200.55 $6,675.87 $0.00a. How much are the yearly payments? b. If you traded your car in at the end of the 3 rd year (2013) and it was worth $15,500, how much would you get to put towards the new car that you are buying after paying back the bank?The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses?Select one:a. OMR 12,400b. OMR 1,500,000c. OMR 31,000d. None of the other pointsA college savings fund is opened with a $12,000 deposit. The account earns 6.55% annual interest compounded continuously. What will the value of the account be in 18 years? $26,704.29 $38,704.29 $27,013.46 $39,013.46 . By formula only please correct ans
