A 02 Ready B X Given: FONT Round to the nearest cent a. What was the principal portion of payment number 4? 50.00 Ass.11#2 37°F Partly sunny Caitlin purchased a machine for $25,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 4.02% compounded quarterly. She paid $1,125 at the end of every quarter to settle the loan. F G b. What was the interest portion of payment number 4? Ass.11#1 page 570 #8 Align

A 02 Ready B X Given: FONT Round to the nearest cent a. What was the principal portion of payment number 4? 50.00 Ass.11#2 37°F Partly sunny Caitlin purchased a machine for $25,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 4.02% compounded quarterly. She paid $1,125 at the end of every quarter to settle the loan. F G b. What was the interest portion of payment number 4? Ass.11#1 page 570 #8 Align

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 10.1EX: Current liabilities Bon Nebo Co. sold 25,000 annual subscriptions of Bjorn for 85 during December...

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Current liabilities Bon Nebo Co. sold 25,000 annual subscriptions of Bjorn for 85 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of 840,000 during the first calendar quarter of 20Y6. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 20Y6. Prepare the current liabilities section of the balance sheet for Bon Nebo Co. on March 31, 20Y6.
OLA#8.4 Tiffany purchased a machine for $22,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 6.12% compounded monthly. He paid $1,125 at the end of every month to settle the loan. a. What was the principal portion of payment number 4? b. What was the interest portion of payment number 4? Please reply with algebra using details
LO 12.4 Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank in the amount of $500,000. The terms of the loan are 2.9% annual interest rate and payable in 8 months. Interest is due in equal payments each month. Compute the interest expense due each month. Show the journal entry to recognize the interest payment on October 20, and the entry for payment of the short-term note and final interest payment on May Round to the nearest cent if required.
LO 13.3 Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at the end of the month for 12 months. The interest rate is 12% annually. If the monthly payments are $888.49, what is the journal entry to record the cash received on Jan. 1 and the first payment made on Jan. 31?
OLA #8.1 Miguel received a loan of $10,000 at 4.50% compounded quarterly. He had to make payments at the end of every quarter for a period of 1 year to settle the loan. a. Calculate the size of payments. b. Fill in the amortization schedule, rounding the answers to two decimal places. Payment Number Amount Paid Interest Portion Principal Portion Principal Balance 0 $10,000.00 1 2 3 4 Total
Pm.6 You want to buy a new sports car from Muscle Motors for $55,000. The contract is in the form of an annuity due for 48 months at an APR of 7.00 percent. What will your monthly payment be? Multiple Choice $1,335.59 $1,283.22 $1,309.41 $1,317.04 $1,243.93
aa.3 Brendan bought a car for $27,000 by making a downpayment of $5,670 and biweekly (every two weeks) payments at the end of every two weeks for 5 years. Interest is 3.4% compounded semiannually.1. What are the biweekly (every two weeks) payments, rounded to the nearest cent?P/Y = C/Y = N = I/Y = %PV = $ PMT = $ FV = $2. What is the cost of financing?Cost of Financing = $ (enter a positive value, rounded to the nearest cent)
A2 6d May I please have the answer in formula form and not excel. Thx:) Ms. Cressida bought a car for $48,000 exactly three years ago. After making an up-front equity payment of $5,000, she borrowed the rest of the car value from her bank in the form of a five-year loan. She negotiated a loan rate of 2.5% APR with semi-annual compounding. She makes loan payments of an equal dollar amount every two weeks (i.e., biweekly), and her first loan payment was due two weeks after she signed the loan contract. d. What is Cressida’s current loan balance?
Calculator sequence (1+(i÷365))y× n x P=A A. On April 13th Thomas Ash deposited $2600 in a passbook savings account at 3.5% interest compounded daily what is the compound amount in $ of his account on August 5th? $ B. Using daily compounding calculate the compound amount in $ of a $6000 investment for each of the 3 Cd's. the 1st national bank is offering a 5 year CD 4% interest.....$ the 2nd national bank is offering a 5 year CD at 3% interest....$ the 3rd national bank has a 5 year CD at 5.5% interest .....$
Ay 1. An investor bought a $500,000 face Government of Ontario Treasury Bill 355 days before maturity at an interest rate of 3.9% p.a. She sold the T-bill 219 days later at a rate of 3.45% p.a. Determine: a. The amount she paid for the T-bill. b. The amount she sold the T-bill for c. The rate of return (R) she realized on her investment over the 219 days.
A2 6f May I please have the answer in formula form and not excel. Thx:) Ms. Cressida bought a car for $48,000 exactly three years ago. After making an up-front equity payment of $5,000, she borrowed the rest of the car value from her bank in the form of a five-year loan. She negotiated a loan rate of 2.5% APR with semi-annual compounding. She makes loan payments of an equal dollar amount every two weeks (i.e., biweekly), and her first loan payment was due two weeks after she signed the loan contract. f. Show the amortization schedule (table) for the first five payments and the last five payments in the amortization table provided below. Round your answers in the table to two decimal places. Payment # Beginning balance Biweekly payment Interest payment Principal repayment Ending balance 1 2 3 4 5 126 127…
Time remaining: 00:09:14 Other Math Ms. Esperanto obtained a $40,900 home equity loan at 8.3% compounded monthly. (Do not round intermediate calculations. Round the PMT and final answers to 2 decimal places.)a. What will she pay monthly if the amortization period is 10 years?Payment $ per monthb. How much of the payment made at the end of the fourth year will go towards principal and how much will go towards interest? Principal $ Interest $ c. What will be the balance on the loan after four years?Balance $d. How much interest did she pay during the fourth year?Interest paid $