Compute the nominal annual rate of interest compounded monthly at which $475 paid at the beginning of each quarter for 10 years will eliminate a debt of $17,000.
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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?A debt of $63 100.00 is repaid by payments of $4350.00 made at the end of every six months. Interest is 6.5% compounded quarterly.a) What is the number of payments needed to retire the debt?b) What is the cost of the debt for the first five years? c) What is the interest paid in the 11th payment?d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.A debt of $28,400 is repaid by payments of $2,980 made at the end of every six months. Interest is 5.43% compounded quarterly. (a) What is the number of payments needed to retire the debt? (b) What is the cost of the debt for the first four years? (e) What is the interest paid in the eighth payment period? (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals. (a) The number of the semi-annual payments is 12. (Round the final answer up to the nearest whole number. Round all intormediato values to six decimal places as needed.) (b) The cost of the debt for the first four years is $ (Round the final answer to the noarest cent as needed. Round all intermediate values to six decimal places os needed.)
- Compute the nominal annual rate of interest compounded monthly at which $475 paid at the beginning of each quarter for 10 years will eliminate a debt of $17,000.A debt of $33,000 is repaid over 13 years with payments occurring monthly. Interest is 10% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 81? (c) What is the interest paid on payment 82? (d) How much principal is repaid in payment 82? (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The principal repaid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)A debt of $1908 with interest at 6.3% compounded annually is to be repaid by equal payments at the end of each year for 4 years. What is the balance remaining (BAL) after the second payment? What is the principal repaid (PRN) in the second payment? What is the interest paid (INT) in the second payment?
- 3) the end of each year. Interest is 7% compounded semi-annually. A debt of $42 500.00 is repaid by payments of $4850.00 made at 3) a) How many payments are needed to repay the debt? b) What is the cost of the debt for the first three years? c) What is the principal repaid in the 3rd year? d) Construct an amortization schedule showing details of the first three payments, the last three payments, and totals.A debt of $30,000 is repaid over 12 years with payments occurring quarterly. Interest is 9% compounded semi-annually. (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?A debt of $40 000 is to be repaid in installments due at the end of each month for seven years. If the payments are deferred for three years and interest is 7% compounded quarterly, what is the size of the monthly payments?
- A debt of P120,000 is to be amortized by equal payments at the end of every quarter for 2 years. If the interest charged is 12% compounded semi-annually, find the outstanding principal after each payment is made. Construct an amortization schedule.-A debt requires payments of $750 at the end of every three months for 8 years. Calculate the original amount of the debt if money is worth 9% compounded monthly. How much interest is charged?7. An amount of 24,000php is borrowed for 15 years at a rate of 2%. Make an amortization schedule showing the monthly payment, the monthly interest on the outstanding balance, the portion of the payment contributing toward reducing the debt, and the outstanding balance.
