Carla borrowed $1010.00 from the Central Bank at 8.8% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedulefor the loan including totals for Amount Paid, Interest Paid, and Principal Repaid.Complete the repayment schedule below. (Round to the nearest cent as needed.)Payment NumberBalance Before PaymentAmount PaidInterest PaidPrincipal RepaidBalance After PaymentS1010.001$1010.00$220.00

Loan amount is $1010 Interest rate is 8.8% Monthly payment is $220 To Prepare: Loan repayment…

Answered: Carla borrowed $1010.00 from the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

1. Potential voting rights from call options held by an investor should be taken into account in determining whether power over the investee exists, but only when the call options are "out of the money". 2. An investor's rights must be substantive to give rise to power over the investee. 3. Protective rights such as the ability to remove key management personnel under restricted circumstances do not contribute to establishing power over the investee. 4. If unanimous consent is required from two or more investors, this gives rise to power over the investee. Ture of false?
A mother borrowed 180,378 with 0.09 compounded monthly and promised to pay the amount by 20 equal monthly installments which will start at the beginning of each period. Determine the monthly payment.
Gene McDonald's bank granted him a single-payment loan of $5,000 for 90 days at 9% ordinary interest. What is the amount of ordinary interest owed?
Clara borrowed money from a bank that charges interest at 10% compounded quarterly. She agreed to pay the principal and interest by 36 equal payments of P7,000.00 at the end of each three months. How much did Clara borrow? Select one: O a. P260,547.28 b. P164,893.76 O c. No answer d. P67,735.56 O e. P69,997.63
1. Chelsie borrowed 10,000 from a financial institution at an interest rate of 1% monthly. The monthly payment she pays is 554.15. Find the number of periods required to repay the loan? 2. Mary Rose borrowed money from a bank amounted 12,000 with an interest rate of 11.5%, the monthly installments are 313.07. how long will it take to repay the loan? 3. ABC company has borrowed money from a financial institution that will be paid for about 2 years with monthly installments of 6,000. How much is the principal loan?
Prepare an amortization schedule showing the first four payments for the loan. John finances $200,000 towards the purchase of a new home through a 30-year mortgage. The interest rate applied to the monthly unpaid balance is 4.75%. Payment Number 1 2 3 4 Amount of Payment Interest for Period Portion to Principal Principal at End of Period = v > KA + v 600 On
Wyatt signs a note for a discounted loan agreeing to pay $4,100 in 6 months at a discount rate of 13%. Determine the amount of the discount and the proceeds to Wyatt.Discount = $ Proceeds = $
Darlene applies for an installment loan to consolidate her credit cards. The loan is to be paid in 60 monthly installments with an APR of 16%. Her total balance is $17000. Compute her monthly payment. $413 O $283 O $460 O $370
n August 1, Felix’s credit card has a balance of $1,125.25. According to the terms of the card’s lending agreement, an interest rate of 14% per year is assessed and the monthly finance charges are calculated using the Average Daily Balance (ADB) including purchases method. During the month, Felix expects to make the purchases listed below and will make a payment of $84.39 on August 23, and has collected the following additional information: Date Purchases August 6 $245.31 August 13 1,940.83 August 21 130.41 August 26 212.85 Additional Information Monthly interest rate 1.17% Beginning card balance $1,125.25 Days in the month 31 Use the following table to help Felix estimate his monthly interest charge for August. Dates Number of Days Daily Balance Calculated Value 8/2 - 8/6 5 $1,125.25 $ 8/7 - 8/13 7 8/14 - 8/21 8 8/22 - 8/23 2 8/24 - 8/26 3 8/27 - 8/1 6 $ Total 31 Average Daily Balance With Purchases $ Finance Charge $ One way by which Felix can increase his finance…
Ms. Kim borrowed an amount from a bank but she only recieved from the bank P1,340. She promised to pay the principal at the end of 9 months. If the corresponding discount rate or often referred toas the banker's discount is 13.73%, what is the amount borrowed?
On April8, Manuel borrowed $730.00 from his uncle at 5.5% per annum calculated on the daily balance. He gave his uncle six cheques for $110.00dated the 8th of each of the next six months starting May 8 and a cheque dated November 8 for the remaining balance to cover payment of interest and repayment of principal. Construct a complete repayment schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment Amount Paid Interest Paid Principal Repaid Balance After Payment 0 Apr. 8 $730.00 1 May 8 $730.00 $110.00 $..... $...... $...... 2 June 8 $..... $110.00 $....... $....... $....... 3 July 8 $...... $110.00 $...... $....... $....... 4 Aug. 8 $........ $110.00…
Carla borrowed $1002.00 from the Merchant Bank at 8.4% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedule for the loan including totals Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment Amount Paid Interest Paid Principal Repaid Balance After Payment $1002.00 1 $1002.00 $220.00 2 $220.00 $ 3 $220.00 $ $ 4 $ $220.00 %$4 %$4 $0.00 Totals: $1 $

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