KA company borrowed $13,000 paying interest at 8% compounded semi-annually. If the loan is repaid by payments of$2300 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments,the total paid, and the total interest paid.Complete the table below for the last three payments.(Do not round until the final answer. Then round to the nearest cent as needed.)PaymentNumberAmount Paid Interest Paid Principal Repaid$$2300$23004$OutstandingPrincipal50Total Paid=$(Do not round until the final answer. Then round to the nearest cent as needed.)Interest Paid=$(Do not round until the final answer. Then round to the nearest cent as needed.)

Annuity: this is used in case of a future annuity – suppose an equal sum of money is invested in the…

Answered: me total paid, and the total interest…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 17P

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A company borrowed $13,000 paying interest at 5% compounded semi-annually. If the loan is repaid by payments of $2500 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number 4 Amount Paid Interest Paid Principal Repaid $2500 $ Outstanding Principal $
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K A company borrowed $13,000 paying interest at 8% compounded semi-annually. If the loan is repaid by payments of $2300 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Amount Paid Interest Paid Principal Repaid $ $2300 $2300 4 $ Outstanding Principal 50 Total Paid=$ (Do not round until the final answer. Then round to the nearest cent as needed.) Submit test Interest Paid=$ (Do not round until the final answer. Then round to the nearest cent as needed.)
A $22,550 loan is to be settled by making payments of $6,862 at the end of every three months. The interest is 4.5% compounded semi-annually. a) Find the number of payments in the term. N b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. Payment Number 0 1 2 3 4 Payment Amount ($) PMT FA GA SA Interest Portion Principal Portion ($) INT ($) PRN SA GA = 6A SA SA $ $ $ Loan Balance ($) BAL GA GA $22,550
A company borrowed $13,000 paying interest at 7% compounded quarterly. If the loan is repaid by payments of $2100 made at the end of each 3 months, constructa partial amortization schedule showing the last three payments, the total paid, and the total interost paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Outstanding Amount Paid Interest Paid Principal Repaid Principal $2100 $2100 $2100 s151.41 s 1948 50 Total Paid S (Do not round until the final answer. Then round to the nearent cent as needed) arce Interost Paid s (Do not round until the final anower. Then round to the nearest cent as needed) ess Enter your answer in each of the answer boxes
A $23,300 loan is to be settled by making payments of $7,460 at the end of every six months. The interest is 7.82% compounded quarterly. a) Find the number of payments in the term (Round off to two decimal places). b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Payment Number Payment Amount($) PMT Interest Portion ($) INT Principal Portion ($) PRN Loan Balance ($) BAL 0 $3.4 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ 4 $ $ $ $ TVM FORMULA
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Messi borrowed GH¢ 150,000 from SOS Bank at 14% annual interest rate to be paid over three years. The loan is amortized into three equal annua end-of-year payments. Required: Calculate the annual end-of-year-loan payment. Prepare a loan amortization schedule. Explain why the interest portion of each payment declines with the passage of time
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