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A: Monthly payment = $430.33 Number of monthly payments = 12 Loan amount = $5000 Interest rate = 6%
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A: The amount invested today can be computed with the help of present value function.
Q: FIND THE SIMPLE INTEREST ON A 30,000 LOAN AT 17% INTEREST FOR FOUR MONTHS.
A: Interest = principal x rate of interest x no. of months/12
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A: in this we have to find present value FACTOR and find quarterly payment and solve remaining part.
Q: Discount 18,600 due at the end of 28 years and 4 months at 9% compounded monthly
A: The discounted value of a future payment can be calculated with the help of present value
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A: Compound Interest = P(1+r/n)^nt - PWhere P = Principal = $5,000R = Rate on interest = 6%N = number…
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A: Using excel FV function
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A:
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A: Interest amount = Principal * Rate * Time duration
Q: Aaron's student loan of $24,500 at 3.32% compounded quarterly was amortized over 5 years with…
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A: Given: Interest rate =0.09% Days = 150 Days Amount = Php 20,000
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Q: Towline Corporation borrowed $75,000.00 at 11% compounded monthly for 10 years to buy a warehouse…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
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Q: est and amount
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Q: Aubrey Daniel’s savings account has a principal of $5,725. It earns 4% interest compounded quarterly…
A: The future value function or concept can be used to determine the future value of a present sum or…
Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 5 years.
A: Loan amount (PV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period = 5…
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find the interest and the amount for $800 for 8 months at 4%
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- Cash Flow Amounts R. Lee Rouse borrows 10,000 that is to be repaid in 24 equal monthly installments payable at the end of each subsequent month with interest at the rate of 1% per month. Required: Using the appropriate table, calculate the equal installments.Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)Everglades Consultants takes out a loan in the amount of $375,000 on April 1. The terms of the loan include a repayment of principal in eight, equal installments, paid annually from the April 1 date. The annual interest rate on the loan is 5%, recognized on December 31. (Round answers to the nearest cent, if needed.) A. Compute the interest recognized as of December 31 in year 1. B. Compute the principal due in year 1.
- 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?A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Campus Flights takes out a bank loan in the amount of $200,500 on March 1. The terms of the loan include a repayment of principal in ten equal installments, paid annually from March 1. The annual interest rate on the loan is 8%, recognized on December 31. (Round answers to the nearest whole dollar if needed.) A. Compute the interest recognized as of December 31 in year 1 rounded to the whole dollar. B. Compute the principal due in year 1.
- 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 20. Round to the nearest cent if required.What is the amount generated by a capital of $10,000 applied to compound interest for the following terms and rates: Compound interest rate Deadline a)3.0% per quarter 30 monthsDeposit $10,000 in account with 7% annual interest compounded monthly. What is the balance after 3 years
