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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?Given the following information on a 20-year fixed-payment loan, determine the remaining balance that the borrower has at the end of 10 years. Interest Rate: 10%, Monthly Payment: $1,500. $116,343.67 $100,000.00 $120,500.00 $113,506.75Compute the compound amount and the interest on a loan of $10,600 compounded annually for six years at 8%. Use the $1.00 future value table or the future value and compound interest formula.
- Create an amortization table for a 15-yr fully amortizing, 6% loan for $10 million. Assume annual payments. What is the loan balance after year 5?Given a loan of $48,000 for three years with a rate of 10%, what are the total finance charges? amortization chartPrepare an amortization schedule for a three year loan of $57,000. The interest rate is 8% per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan?
- Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $17,900 with an annual interest rate of 09.00%. The loan will be repaid over 22 years with monthly payments. 1. What is the Loan Payment? 2. What portion of this payment is Interest? 3. What portion of this payment is Principal? 4. What is the Loan balance after first monthly payment?A loan of L is being amortized with payments at the end of each year for 10 years. If vs = 22/30, find expressions for the following in terms of (a) The amount of principal reapid in the first 5 payments. (b) The amount due at the end of 10 years if the final 5 payments are not made as scheduledPrepare an amortization schedule for a three-year loan of $111,000. The interest rate is 10 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan?
- In each situation described below, identify the initial payment, the term interest rate, andthe number of compounding periods. An investment of $5000 at an APR of 3% compounded monthly, followed by anotherinvestment of $5000 made 2 years after the first. What is the value of the account after5 years?A loan of $10200 is to be amortized with quarterly payments over five years. The interest on the loan is 7.5% per year, paid on the unpaid balance. What is the payment to pay off the loan?Complete the following from the first three lines of an amortization schedule for the following loan:You borrow $ 210000 with an annual interest rate of 6.25% over 20 years Starting principal = $ 210000New balance after month 1 payment = New balance after month 2 payment = New balance after month 3 payment =