Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 2 years?
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- 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.Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
- Cameron's student loan of $28,000 at 3.72% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? Round to the nearest centShelby's student loan of $25,500 at 3.32% compounded quarterly was amortized over 6 years with payments made at the end of every month. What was the principal balance on the loan after 5 years? Round to the nearest cent AHeather's student loan of $25,000 at 2.82% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? $0.00 Round to the nearest cent
- Nicole's student loan of $26,000 at 4.62% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 3 years?Aaron's student loan of $24,500 at 3.32% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? Round to the nearest cent OD $0.00 ( 0 LA f SUBMIT QUESTION SAVE PROGRESS ↑ SUBMMatthew has a $32,500 student loan at 4.80% compounded quarterly amortized over 12 years with payments made at the end of every month. What was the principal portion of payment 48? O a $201.97 O b. $95.06 Next page
- A car loan of $46,700 is amortized over years by equal end-of-month payments at 2.9% compounded monthly. What is the amount still owing after 2 years? A. $36,019.15 B. $30,522.60 C. $43,208.24 D. $45,833.37Bradley received a loan of $32,000 at 4.75% compounded quarterly. She had to make payments at the end of every quarter for a period of 5 years to settle the loan. a. Calculate the size of payments. 0.00 Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number 0 Principal Portion Principal Balance Interest Portion Payment $32,000.00 ↑A company financed the purchase of a machine with a loan at 4.25% compounded semi-annually. This loan would be settled by making payments of $7,500 at the end of every six months for 6 years. a. What was the principal balance of the loan? $0.00 Round to the nearest cent b. What was the total amount of interest charged on the loan? $0.00 Round to the nearest cent