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- Stellar Company purchased a machine at a price of $92,700 by signing a note payable, which requires a single payment of $136,207 in 5 years. Click here to view factor tables. Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 13%.) Rate of interest %An account paying annual compound interest was opened with OMR2,000 10 years ago. Today, the account balance is OMR3,500. If the same interest rate is offered on an account paying simple interest, how much income would be earned each year over the same time period? Select one: O a. OMR150.0o O b.OMR 92.60 O COMR115.20 O d. OMR 80.40 O e. OMR 56.90On January 1, New Jersey Company borrowed $260,000 to purchase machinery and agreed to pay 7% interest for eight years on an installment note. Each note payment is doe on the last day of the year. What is the carrying value of the loan at the end of the second year? (Do not round intermediate calculations. Only round your final answer to the nearest dollar.) A. $214,685 B. $218,232 C. $172,917 D. $207,543
- Splish Company purchased a machine at a price of $95,600 by signing a note payable, which requires a single payment of $139,968 in 4 years. Click here to view factor tables Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round answer to 0 decimal places, eg. 13%.) Rate of interestSaved 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. 5A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end of each year for n years. (i) The interest portion of the final payment is 153.86. (ii) The total principal repaid as of time (n − 1) is 6009.12. (iii) The principal repaid in the first payment is Y. Calculate Y. OA. 500 OB. 470 O C. 480 O D. 490 OE. 510
- (Unknown Rate) LEW Company purchased a machine at a price of $100,000 by signing a note payable, which requires a single payment of $123,210 in 2 years. Assuming annual compounding of interest, what rate of interest is being paid on the loan?KE Find the equated date at which the originat payments are equivalent to the single payment State your answer in years and months (from 0 to 11 months) Original Payments Single Payment $1047 00 due today and $1308.00 due in 4 years Interest Rate 5% Frequency of Conversion semi-annually $2624 59 In year(s) and month(s) the single payment will be equivalent to the original paymentsCrafty Inc. borrowed $10,000 with a five-year 11.26% annual interest rate on 10/1/20X1. On their year-end financial statements dated 12/31/20X1, what amount should be reflected for interest expense? Input your response rounded to a whole number, without commas and without dollar signs. Your Answer: Answer
- Consider 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 CPrepare an amortization schedule for a three-year loan of $117,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Note: Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Year 1 2 3 $ Beginning Balance 117,000.00 Total Payment Total interest Interest Payment Principal Payment Ending BalanceFind the equated date at which the originat payments are equivalent to the single payment State your answer in years and months (from 0 to 11 months) Original Payments Single Payment $1047 00 due today and $1308.00 due in 4 years Interest Rate 5% Frequency of Conversion semi-annually $2624 59 In year(s) and month's) the single payment will be equivalent to the original payments
