Katec Corporation borrowed $79000.00 at 3% compounded monthly for 13 years to buy a warehouse. Equal payments are made at the end of every month. (a) Determine the size of the monthly payments. (b) Compute the interest included in payment 68. (c) Determine the principal repaid in payment period 28. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.

A property was purchased for $3976.00 down and payments of $1249.00 at the end of every six months for 6 years. Interest is 8% per annum compounded monthly. What was the purchase price of the property? How much is the cost of financing? The purchase price of the property was $ $☐ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Kavra Corporation purchased a building by signing a $150,000 long-term mortgage with monthly payments of $2,000. The mortgage carries an interest rate of 12 percent. 1. Prepare a monthly payment schedule showing the monthly payment, the interest for the month, the reduction in debt, and the unpaid balance for the first three months. (Round to the nearest dollar.)2. Prepare the journal entries to record the purchase and the first two monthly payments.

$4,250 was deposited at the end of every six months for 5 years into a fund earning 2.2% compounded semi-annually. After this period, the accumulated money was left in the account for another 4 years at the same interest rate. a) Calculate the accumulated amount at the end of the 9-year term. $ b) Calculate the total amount of interest earned during the 9-year period.

Sheridan Company receives a three-year, $9,200, zero-interest-bearing note, and the related present value with a market interest rate of 8% is $7,303.24. The total discount of $1,896.76 under the straight-line method is amortized over the three-year period in equal amounts each year. Therefore, the annual amortization is $1,896.76 ÷ 3 or $632.25. Date of issue End of Year 1 End of Year 2 End of Year 3 Cash Received Click here to view factor tables $0 0 $0 Schedule of Note Discount Amortization Effective Interest Method 0% Note Discounted at 8% Interest Income Discount Amortized $584.26 631.00 681.50 $1,896.76 $584.26. 631.00. 681.50 $1,896.76 Carrying Amount of Note $7,303.24 7,887.50 8,518.50 9,200 Prepare the entry to record the annual interest for years 1 and 2 under the straight-line method and the effective interest method. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the…

Murphy Company purchased a new machine for $120,000 on December 31, 2020. They obtained a loan                       at the bank to finance the purchase. The terms of the loan were: 5 years, 5% interest, annual payments                       of principal and interest on December 31 of each year.                                               a. Using the table provided, calculate the annual payment on the loan.                                               b. Record the purchase of the new machine on December 31, 2020.                                               c. Record the loan payment on December 31, 2021.                                               d. Record the loan payment on December 31, 2022.                                               d. Calculate the loan balance for December 31, 2022 after the payment.                   a. Using the table below, calculate the annual payment on the loan.                           Loan Amount…

Edward purchased a new piece of equipment to be used in its new facility. The $445,000 piece of equipment was purchased with a $66,750 down payment and with cash received through the issuance of a $378,250, 9%, 5-year mortgage payable issued on January 1, 2022. The terms provide for annual installment payments of $97,245 on December 31.   1. Prepare an installment payments schedule for the first five payments of the notes payable   2. Prepare the journal entry related to the notes payable for December 31, 2022.    3. Show the balance sheet presentation for this obligation for December 31, 2022. (Hint: Be sure to distinguish between the current and long-term portions of the note.)

A firm acquires a warehouse costing $60,000 on January 31. The firm makes a down payment of $7,000 and assumes a 20 year, 6% mortgage for the balance. Interest is payable on January 31 each year. If interest payment on mortgage is recognized on february 28th of the same year, what will be the interest payable.

On January 1 of this year, Skamania Company completed the following transactions (assume a 8% annual interest rate): (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. a. Bought a delivery truck and agreed to pay $60,200 at the end of three years. b. Rented an office building and was given the option of paying $10,200 at the end of each of the next three years or paying $28,200 immediately. c. Established a savings account by depositing a single amount that will increase to $90,400 at the end of seven years. d. Decided to deposit a single sum in the bank that will provide 8 equal annual year-end payments of $40,200 to a retired employee (payments starting December 31 of this year). Required: a. What is the cost of the truck that should be recorded at the time of purchase? b. Which option for the office building results in the lowest present value? c. What single amount must be deposited in this account on January 1 of this year?…