Question
In: Accounting
The Company borrowed $206,116 at 7.89 % to be repaid quarterly over 30 years. They just remitted...
The Company borrowed $206,116 at 7.89 % to be repaid quarterly over 30 years. They just remitted payment number 74. How much interest did the bank receive in year 3?
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The Company borrowed $266,779 at 8.51 % to be repaid quarterly over 30 years. They just...
The Company borrowed $266,779 at 8.51 % to be repaid quarterly
over 30 years. They just remitted payment number 74. How much
interest did the bank receive in year 3
The Company borrowed $170,000 at 9.60% to be repaid monthly over 15 years. They just remitted...
The Company borrowed $170,000 at 9.60% to be repaid monthly over
15 years. They just remitted payment number 78. 21. How much total
interest is scheduled to be paid over the life of the loan? a.
$183,172 b. $201,489 c. $137,620 d. $151,382 e. $166,520 22.
How much of the payment just remitted is interest?
a. $1,464 b. $1,100 c. $1,331 d. $1,000 e. $1,210
An auto repair shop borrowed $15,000 to be repaid by quarterly payments over 4 years. Interest...
An auto repair shop borrowed $15,000
to be repaid by quarterly
payments over 4 years. Interest on the loan is 3%
compounded quarterly.
(a) What is the size of the periodic payment?
(b) What is the outstanding principal after payment
10?
(c) What is the interest paid on payment
11?
(d) How much principal is repaid in payment
11?
Could you please show full steps as i want to use this as a
learning tool.
A loan is to be repaid over 30 years, with month-end repayments of 3,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 3,000. If the interest rate is 6.5% p.a. compounded monthly.
Calculate the principal paid for year 10. Correct your answer to
the nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 9,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 9,000. If the interest rate is 7.0% p.a. compounded monthly.
Calculate the interest paid for year 10. Correct your answer to the
nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 8,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 8,000. If the interest rate is 3.8% p.a. compounded monthly.
Calculate the interest paid for year 10. Correct your answer to the
nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 8,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 8,000. If the interest rate is 4.9% p.a. compounded monthly.
Calculate the loan outstanding balance at the end of 10 years.
Correct your answer to the nearest cent without any units. (Do not
use "$" or "," in your answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 4,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 4,000. If the interest rate is 5.3% p.a. compounded monthly.
Calculate the principal paid for year 10. Correct your answer to
the nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 6,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 6,000. If the interest rate is 4.9% p.a. compounded monthly.
Calculate the interest paid for year 10. Correct your answer to the
nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67).
Haley initially borrowed $5,600 from Scotiobank at 2.66% compounded quarterly. After 3 years she repaid $1,624,...
Haley initially borrowed
$5,600 from Scotiobank at 2.66% compounded
quarterly. After 3 years she repaid $1,624, then 7 years
after the $5,600 was initially borrowed she repaid
$2,072. If she pays off the debt 11 years after the $5,600
was initially borrowed, how much should her final payment
be to clear the debt completely? Round all answers to two decimal
places if necessary.
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