I borrow a 500,000 at 15% compounded annually, and he agree to pay the loan in 18 equal annual payments. How much of the original principal is still unpaid after I made the 10th payment.
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?Halep 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.Mr. Reyes borrows P600 000 at 12% compounded annually, agreeing to pay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment?
- Mr. Reyes borrows P600,000 at 12% compounded annually agreeing to repay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment?Mr. Reyes borrows P600, 000 at 12% compounded annually, agreeing to repay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment?Include cashflow if possibleMr. Reyes borrows 600000 at 12% compounded annually agreeing to repay the loan in 15 equal annual payments. How much is the remaining balance after he paid the 8th payment?
- AtoHayle borrowed birr 200,000 at 6% compounded monthly for 30 years, and agree to repay the loan in 360 equal monthly installments including all interests due. Suppose that immediately after the 24th payment AtoHayle decides to increase the monthly payment by birr 600 per month. How many more payments must be made?How much would this save over the life of the loan?How much is the total payment made over the entire period?How much interest is paid over the entire period?Kyle borrowed P100,000 to be paid in 10 years, and established a sinkingfund to provide for the payment of this obligation. The deposits with thefund will be made at the end of every six months. If money is worth 8%compounded semi-annually, what should be the amount of each deposit.Debby Robinson borrows $10,000 to be repaid over 10 years with equal annual payments at 9%. Repayment of principal in the second year is:
- Tedros borrowed $2 million and planned to repay the loan by making equal month-end payments over a period of 10 years. The interest rate on the loan is 6%, compounded monthly. (a) Calculate the amount of monthly payment. (b) Of the 60th payment, how much will be used to repay the interest and principal for the month? (c) Tedros plans to pay off the loan immediately after making the 60th payment. What should the size of the lump-sum (pre-)payment be? (d) Immediately after the 60th repayment, the central bank increased the market interest rate and the bank subsequently raised the loan's interest rate to 8% p.a., compounded monthly. If Tedros decides to keep the number of remaining payments unchanged, what is the size of the new monthly repayments? (e) Calculate the total amount of principal repaid and interest paid in the first 60 monthly payments. Assume that the relevant interest rate is still 6%, compounded monthly (that is, not 8%).[Hint: One make-sense way to think about…Jason's loan for $8500.00 is repaid by equal payments of $525.00 that are made at the end of every month. If his interest is 11% compounded semi-annually, how much will be paid out of pocket (in total) to repay the loan plus interest?1) On December 31, Son-Nan Chen borrowed $100,000, agreeing to repay this sum in 20 equal annual installments that include both principal and 15 percent interest on the declining balance. How large will the annual payments be? 2) You’ve been offered a loan of $30,000, which you will have to repay in five equal annual payments of $10,000, with the first payment to be received one year from now. What interest rate would you be paying on that loan?
