Interest expense for a quarter is calculated based on the loan balance at the end of the previous quarter and is calculated based on an annual rate of 5%,The loan balance at the end of 2021 was 75000 Cacluate the 2022 year interest costs
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Interest expense for a quarter is calculated based on the loan balance at the end of the previous quarter and is calculated based on an annual rate of 5%,The loan balance at the end of 2021 was 75000
Cacluate the 2022 year interest costs
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- Determine the combined present value as of December 31, 2016, of the following four payments to be received at the end of each of the designated years, assuming an annual interest rate of 8%. Payment Year Received $5,000 2017 6,000 2018 8,000 2020 9,000 2022For the loan amount, interest rate, annual payment, and loan term shown in the following table, calculate the annual interest paid each year over the term of the loan, assuming that the payments are made at the end of each year. amount interest rate annual payment term $44,000 9% $13,581.42 4 years The portion of the payment that is applied to interest in year 1-4 isWhat sum of money will be required will be required to discharge a loan of P7,800 on April 1.2020, if the loan is made on October 1, 2011 at a rate of 9% compounded quarterly?
- a loan is amortized by level payments made at the end of each quarter for 25 years.Tge monthly rate is 1%.The principal in the 29th payment is 5580.Find the amount of interest in the 60th paymentWhat is the interest income for 2021? National Bank granted a loan to a borrower on January 1, 2021. The interest on the loan is 10% payable annually starting December 31, 2021. The loan matures in three years on December 31, 2023. Principal amount Origination fee charged against the borrower Direct origination cost incurred 4,000,000 342, 100 150,000 After considering the origination fee charged against the borrower and the direct origination cost incurred, the effective rate on the loan is 12%. a. 400,000 O b. 380,900 c. 456,948 O d. 480,000Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 Fill out the amortization schedule below. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 $______ $_______ $_______ $_____ (Round to nearest cent as needed)
- A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018 at 14% converted semi-annually? P15,257.90 P33,500.39 P 28, 600.21 P36,548,19 Find the amount of an ordinary annuity of 20 semi-annual payments of P1, 000 if interest rate is 12% compounded semi-annually. P15,257.90 P33,567.21 P 38, 678.15 P36,785.59Compute 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…ABC Bank granted a loan to a borrower on Jan. 1, 2019. The interest on the loan is 10% payable annually starting Dec. 31,2019. The loan matures in five years on Dec. 31,2023. The data related to the loan are:Principal amount 8,000,000Origination fees received 700,000Direct Origination cost incurred 123,000The effective rate on the loan after considering the direct origination cost and the origination fee received is 12%. 1.What is the entry to record the receipt of the interest income on December 31, 2019?2.What is the interest income for 2019?
- ABC Bank granted a loan to a borrower on Jan. 1, 2019. The interest on the loan is 10% payable annually starting Dec. 31,2019. The loan matures in five years on Dec. 31,2023. The data related to the loan are:Principal amount 8,000,000Origination fees received 700,000Direct Origination cost incurred 123,000The effective rate on the loan after considering the direct origination cost and the origination fee received is 12%.1.What is the entry to record the receipt of the interest income on December 31, 2019?Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)What is the carrying amount of the loan receivable on January 1, 2021? Appari Bank granted a loan to a borrower on January 1, 2021. The interest rate on the loan is 10% payable annually starting December 31, 2021. The loan matures in five years on December 31, 2025. Principal amount Origination fee received from borrower Direct origination cost incurred 4,000,000 350,000 61,500 The effective rate on the loan after considering the direct origination cost incurred and origination fe received is 12%. a. 4,000,000 O b. 4,650,000 O c. 4,411,500 O d. 3,711,500