Sanchez placed $11114 into a five-year interest payout GIC at 4.2% compounded monthly. Calculate the interest payout amount every month. Select one: a. none b. 388.99 c. 38.90 O d. 594.60
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- Find the compound amount for the deposit and the amount of interest earned. $8800 at 4% compounded quarterly for 3 years .... The compound amount after 3 yeara is $ (Do not round until the final answer. Then round to the nearest cent as needed.)(b) A home loan of $300,000 is to be repaid by equal monthly instalments (at the end of each month) of $1753.77 for 25 years (300 months) with an interest rate of 5% p.a. compounded monthly. The following table shows three rows from the amortisation schedule. Compute the missing entries in the last row of the table (Month 150). Give your answers rounded to two decimal places. Month Monthly Payment Principal Repayment Outstanding Balance Interest Payment 300000 149 1753.77 196254.03 150 1753.77 (c) How much money must be deposited now to provide a perpetuity with installed? Download Now3. Complete an amortization schedule for a $38,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 7% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent. Beginning Balance $ % Interest Year 1 2 3 ɔ. What percentage of the payment represents interest and what percentage represents principal for each of the 3 years? Do not round intermediate calculations. Round your answers to two decimal places. % Principal Payment $ % % % % Interest $ % Repayment. of Principal $ Year 1: Year 2: Year 3: % Why do these percentages change over time? I. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. Remaining Balance $ II. These percentages change over time because even though the total payment is constant the amount of interest paid…
- Can you please help asapFind the present value of a $400 payment received each six months for 3 years. Interest is 4%, compounded semiannually.You deposit $500 in an account earning 7% compound interest for 3 years. Find the future value and the interest earned for each of the following compounding frequencies. Use the Bankers' Rule for daily compounding. Frequency Future Value Interest Earned Annually: Semiannually- Quarterly: Monthly Daily:
- Givens, Hong, and Partners obtained a $8,100 term loan at 9.6% compounded annually for new boardroom furniture. Prepare a complete amortization schedule in which the loan is repaid by equal semiannual payments over three years. (Round your answers to the nearest cent. Do not round the intermediate calculations.) Payment Interest number Payment $ portion $ 0 DLN3 456 1 2 1624.80 1624.80 1624.80 1624.80 1624.80 1624.80 Principal portion $ Principal balance $ 8,100.00show your work and don't copyAt the end of each quarter, Patti deposits $1,200 into an account that pays 10% interest compounded quarterly How much will Patti have in the account in five years? (EV of $1. PV of $1. EVA of S1, and PVA of 5) (Use appropriate factor(s) from the tables provided) Multiple Choice $30.654 $36.654 $31854 $30,854
- 4. Castor borrowed today from ChuChu P100,000.00 and agreed to repay the loan with 3 equal monthly amounts, the first payment to start 1 month from today. How much is the value of the monthly payment? Construct an amortization schedule. Interest is 12 % compounded monthly.If Ali has a loan estimated with $5000 at 8% simple interest rate paid annually and the principal amount paid at the end of 5 years, the payment in the third year equal to= Select one: a. $5400 b. $400 c. $5832 d. $6298