Develop an amortization schedule for the loan described. (All answers should be entered in dollars. Round your answers to the nearest cent 1 2 years at 12% compounded semiannually Period 1 2 3 $90,000 for 2 $ $ $ Payment $ $ $ Interest Balance Reduction $ S $ Unpaid Balance $90,000 $ $ S $0.00
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- Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $210,000 for 3 years at 6% compounded annually Period Payment Interest Balance Reduction Unpaid Balance $210,000 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $0.00Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $15,000 for 1 year at 12% compounded quarterly Period Payment Interest Balance Reduction Unpaid Balance $15,000 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ 4 $ $ $ $0.00Consider a loan of $8,000 charging interest at j12-6% with monthly payments of $321.50 Calculate the missing amounts in the amortization table. Place the value for A in the first answer box, B in the second and C in the third. PMT Interest Principall Balance 8,000.00 1321.50 40.00 281.50 7,718.50 2 321.50 A C
- Calculate the principal portion of the second payment on the required on an amortized loan annual interest rate of 8.25% for 20 years. finance the purchase of a new home priced at $99,757.57 assuming the O A. $165.30 O B. $174.17 OC. $175.30 O D. $164.17 Click to select your answer. tUs /- MacBook Air 888 F4 14 F7 F1 F3 FS F6 II 4) F9 F10 F11 @ 2$ 4 23 & 2 6. 0. R Y P. S D F H. J K B alt command +Fl in an amortization table (in dollars) for a loan of $8,500 to be paid back over 2 years, at an annual interest rate of 1.3, compounded quarterly. For eech value in the table, round your answer to the nearest cent and use this value to calculate the next value. Payment number Payment amount Payment amount to interest Payment amount to debt Outstanding principal S0.500 13 14Use 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?
- Saved Prepare an amortization schedule for a five-year loan of $70,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "O" wherever required.) Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance 1 3 4. How much interest is paid in the third year? (Do not round intermediate-calculations 2. 5Amortization Schedule Consider a $25,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 6%. Set up an amortization schedule for the loan. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter "0". Year Payment $ $ 3 $ 4 $ $ Total $ 1 2 LO 5 Repayment Interest $ $ $ $ $ $ ՄԴ Repayment of Principal $ $ $ $ $ $ es Balance $ $ $ $ $ es How large must each annual payment be if the loan is for $50,000? Assume that the interest rate remains at 6% and that the loan is still paid off over 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ How large must each payment be if the loan is for $50,000, the interest rate is 6%, and the loan is paid off in equal installments at the end of each of the next 10 years? This loan is for the same amount as the loan in part b, but the payments are spread out over twice as many periods. Do not round intermediate…+ ument Construct an amortization schedule for a Php10,000, 6% annual rate loan with 6 equal payments. Ending Loan Balance Period Beginning Loan Balance Payment Interest Principal
- Amortization schedule Loan amount to be repaid (PV) $25,000.00 Interest rate (r) 11.00% Length of loan (in years) 3 a. Setting up amortization table Formula Calculation of loan payment #N/A Year Beginning Balance Payment Interest Repayment of Principal Remaining Balance 1 2 3 b. Calculating % of Payment Representing Interest and Principal for Each Year Year Payment % Representing Interest Payment % Representing Principal Check: Total = 100% 1 2 3 Formulas Year Beginning Balance Payment Interest Repayment of Principal Remaining Balance 1 #N/A #N/A #N/A #N/A #N/A 2 #N/A #N/A #N/A #N/A #N/A 3 #N/A #N/A #N/A #N/A #N/A b. Calculating % of Payment Representing Interest and Principal for Each Year Year Payment %…Complete an amortization schedule for a $48,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 11% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ $ $ $ $ 2 3 What percentage of the payment represents interest and what percentage represents principal for each of the three years? Do not round intermediate calculations. Round your answers to two decimal places. % Interest % Principal Year 1: % % Year 2: % % Year 3: % % Why do these percentages change over time? These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. These…Complete an amortization schedule for a $16,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 11% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ $ $ $ $ 2 3 What percentage of the payment represents interest and what percentage represents principal for each of the three years? Do not round intermediate calculations. Round your answers to two decimal places. % Interest % Principal Year 1: % % Year 2: % % Year 3: % % Why do these percentages change over time? These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. These…