Question Consider the following amortization schedule: Payment # 1 2 3 Payment Interest 1,167.34 540.54 1,167.34 539.24 1,167.34 x Debt Payment 626.80 628.10 Y With the exception of column one, all amounts are in dollars. Calculate y. Round your answer to the nearest dollar. Do NOT round until you calculate the final answer. 2 Balance 259,873.20 259,245.10 Z
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- Prepare the amortization table for 2025, assuming that amortization is recorded on interest payment dates using the effective-interest method. (Round answers to 0 decimal places, e.g. 25,000.) Date Cash Expense Amortization Carrying Amount 1/1/25 $enter a dollar amount 6/30/25 $enter a dollar amount $enter a dollar amount $enter a dollar amount enter a dollar amount 12/31/25 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amountthe payment necessary to amortize a 4.8% loan of $81000 compounded annually with 7 annual payments is $13897. The total of the payments is $97279.77 with a total interest payment of $16279.77. The borrower made larger payments of $14000.00. Calculate (a) the time needed to pay off the loan, (b) the total amount of the payments, and (c) the amount of interest saved. Question content area bottom Part 1 a. The time needed to pay off the loan with payments of $14,000.00 is (Round up to the nearest year.) b. The total amount of the payments is $ (Round to the nearest cent as needed. c. The amount of interest saved is $ (Round to the nearest cent as needed.)1. Construct a partial amortization schedule showing the last 2 payments. PMT Setting N I/Y P/Y C/Y PV PMT FV Payment NumberPaymentInterest PaidPrincipal RepaidOutstanding Principal 2. Determine the total amount paid to settle the loan. Show work, not just the answer. 3. Determine the total principal repaid. 4. Determine the total amount of interest paid. Show work, not just the answer.
- se the formula for the present value of an ordinary annuity or the amortization formula to solve the following problem. PV=$9,000; PMT=$600; n=20; i=? i=? (Type an integer or decimal rounded to three decimal places as needed.)2.A certain loan was to be amortized based on the schedule below at 15% interest. What is the equivalent annual uniform payment of the loan? End of Year Payment 1 P 7,000 2 P 6,500 3 P 6.000 4 P 5,500 5 P 5.000 6 P 4,500 7 P 4,000 a. P 5365.80 b. P 5333.00 c. P 6475.12 d. P 5775.08 PLEASE SHOW YOUR SOLUTIONS. THANK YOU!Q23 Compute the present value of a $5,800 deposit in year 1, and another $5,300 deposit at the end of year 4 using an 8 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.) PRESENT VALUE?
- A loan is to be amortized by n level annual payments of X where n > 5. You are given (1) The amount of interest in the first payment is 604.00 (2) The amount of interest in the third payment is 593.75 (3) The amount of interest in the fifth payment is 582.45 Calculate X.Q3): Fill in the entire chart for the below annuities by filling in all the blanks. Solve only (d),(e),(f) part # Payment and frequency (PMT) Time in years (n) Interest rate and compound frequency (I/Y) Present Value (PV) Future Value (FV) a. $5,682.04 per quarter (end) 5 years 5% compounded quarterly ______________ Not Applicable b. $241.63 per month (end) 69 payments 6 ¼ % compounded monthly Not Applicable _______________ c. $____________ per quarter 7 years and 3 months 3 % compounded semi-annually $7,795.89 Not Applicable d. $445.30 per month __________years 7.45 % compounded quarterly Not Applicable $24,788.40 e. $2,000 beginning of every six months 12 ½ years _______compounded quarterly $37,708.30 Not Applicable f. $2,789.58 beginning of every 3 months 60 months 2.75% compounded quarterly Not Applicable…please solve it mannualy do not use excel Assignment Problem 1(Page 132, question 22).An annuity consists of 40 payments of$300 each made at intervals of 3 months. Interest is atj1= 4.5%. Determine the value ofthis annuity at each of the following times:a. 3 months before the time of the first payments;b. at the time of the last payments;c. at the time of the first payment;d. 3 months after the last payment;e. 4 years and 3 months before the first payment.
- march eacg Letter to the correct number answer to the left: 1. Interest 2. Monetary asset 3. Compound interest 4. Simple interest 5. Annuity 6. Present value of a single amount 7. Annuity due 8. Future value of a single amount 9. Ordinary annuity 10. Effective rate or yield 11. Nonmonetary asset 12. Time value of money 13. Monetary liability 1. ______ 2. ______ 3. ______ 4. ______ 5. ______ 6. ______ 7. ______ 8. ______ 9. ______ 10. ______ 11. ______ 12. ______ 13. ______ a. First cash flow occurs one period after agreement begins b. The rate at which money will actually grow during a year c. First cash flow occurs on the first day of the agreement d. The amount of money that a dollar will grow to e. Amount of money paid/received in excess of amount borrowed/lent f. Obligation to pay a sum of cash, the amount of which…Construct an amortization schedule for a $1,000, 3.9% annual rate loan with 3 equal payments. The first payment will be made at the end of the 1st year. Find the required annual payments Selected Answer: $356.9 Answers: $356.9 $359.7 $367.2 $370.5 what’s the ending balance of the amortized loan at the end of the first year? Selected Answer: $678.1 Answers: $650.2 $669.1 $678.1 $679.3The force of interest is given by: ?(?) = {0.08 − 0.001? 0 ≤ ? < 30.025? − 0.04 3 ≤ ? < 50.03 ? ≥ 5Calculate the present value at time 2 of a payment of £1,000 at time 10.