Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 2 years?
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- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?
- Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Zachary's student loan of $28,000 at 4.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 1 year? Round to the nearest centCameron's student loan of $28,000 at 3.72% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? Round to the nearest cent
- Heather's student loan of $25,000 at 2.82% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? $0.00 Round to the nearest centAaron's student loan of $24,500 at 3.32% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? Round to the nearest cent OD $0.00 ( 0 LA f SUBMIT QUESTION SAVE PROGRESS ↑ SUBMNicole's student loan of $26,000 at 4.62% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 3 years?
- A car loan of $46,700 is amortized over years by equal end-of-month payments at 2.9% compounded monthly. What is the amount still owing after 2 years? A. $36,019.15 B. $30,522.60 C. $43,208.24 D. $45,833.37Matthew has a $32,500 student loan at 4.80% compounded quarterly amortized over 12 years with payments made at the end of every month. What was the principal portion of payment 48? O a $201.97 O b. $95.06 Next pageThe interest amount on a $46,500 loan was $24,785.95. The interest rate charged on loan was 9.20% compounded semi-annually. a. What was the accumulated value of the loan? Round to the nearest cent b. What was the time period of the loan? years months