Equity bank grants you a loan of 49,800 on 1 january 2022 that is repayable in 5 annual payments of 13815 at an Interest rate of 12% per annum. Construct arnortization schedule using excel and calculate total interest?
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Equity bank grants you a loan of 49,800 on 1 january 2022 that is repayable in 5 annual payments of 13815 at an Interest rate of 12% per annum. Construct arnortization schedule using excel and calculate total interest?
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- All In Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 10% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount, P 1,000,000 Origination fee received from the borrower, P 55,200 Direct origination cost paid, P 30,770 Indirect origination cost paid, P 5,000 After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 11%. At what amount shall the loan be initially measured on January 1, 2022?All In Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 10% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount, P 1,000,000 Origination fee received from the borrower, P 55,200 Direct origination cost paid, P 30,770 Indirect origination cost paid, P 5,000 After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 11%. What is the carrying value of the loan receivable on December 31, 2023 in Megabank's accounting books?Compute the amount of interest on $8350 at 6.5% p.a. from October 8, 2019, to August 4, 2020. What rate of interest is paid if the interest on a loan of $12500 is $196.06 from November 14, 2019, to May 20, 2020? Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.5% p.a. and the focal date is 115 days from now? What principal will earn $355.99 interest at 9.75% p.a. from February 4, 2017, to July 6, 2017? Determine the face value of a four-month promissory note dated May 20, 2018, with interest at 7.5% p.a. if the maturity value of the note is $1190.03. A Company sells locks for $10 each. Manufacturing cost is $2.60 per lock; marketing costs are $2.40 per lock; and royalty payments are 20% of the selling price. The fixed cost of preparing the lock is $18 000. Capacity is 15,000 locks. Compute the contribution…
- complete this activity on a sheet of paper and attach to this activity. elow, you may use either method when calculating the 1. Study the information below and answer the questions that following questions. Capital amount: 30 000 Interest rate: 10% p.a Installments: R1 350 Repayment period: 24 months Calculate interest payable for the full 2 year period using the simple methoc a. b. Calculate the total interest payable for the first six month using the compound method. 2. Study the information below and answer the questions that following questions Capital amount: R25 000 13% p.a Interest rate: R750 Installments: Repayment period: 36 months Calculate interest payable for the full 36 month period using the simple method Calculate the total interest payable for the first three months using the compound methor a. b. 3. Calculate the interest for the following loan using both simple and compound interest. R400 000 anital amoụnt:Compute the size of the final payment for the following loan. Principal $ Periodic Payment $ Payment Period Payment Made at: Interest Rate % Compounding Period 8100 520 3 months beginning 8 quarterly The size of the final payment is $_ .?You apply for a loan of $151,000 with the following terms: A 7-year loan with semi-annual payments of $14,800 (paid at the end of each period). Based on this information, what is the APR of this loan? (Note: All answers are rounded to two decimals) 4.53% 4.82% 8.42% 9.06% 8.78%
- A loan of P100,000 made today (December 7, 2020) at 8.75% simple interest rate will be repaid on February 14, 2021. What amount should be paid by the borrower?A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383The following loan was paid in full before its due date a) Find the value of h using an appropriate formula b) Use the actuarial method to find the amount of unearned interest c) Find the payoff amount Regular Monthly Payment # of Payments Remaining after Payoff APR 7.2% $247 8 What is the finance charge per $100 financed? h=$ (Round to the nearest cent)
- Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%. Select one: a. $1228 b. $1100 c. $2238 d. $1450 O OFor items 1 to 2 China Bank granted a loan to a borrower on January 1, 2023. The interest rate on the loan is 10% payable annually starting December 31, 2023. The loan matures in five years on December 31, 2027. The data related to the loan are: Principal amount Direct loan origination cost Indirect loan origination cost Origination fee received from borrower P4,000,000 104,410 72,880 526,450 Note: Round-off to four decimal places the PV Factors. The effective interest rate of the loan is? (Round off answer to nearest whole number, e.g. 4%)Consider a credit card with a balance of $7000. You wish to pay off the credit card in each scenario. Calculate the following. Round your answer to the nearest cent, if necessary.a. The amount of a monthly payment within the time frame givenb. The total amount paid over the time period12. APR of 17.99% paid off within 1 year APR of 24% paid off within 3 years