Using the exact method, how much money will be required on July 6, 2016, to repay a loan of $5000 made on September 6, 2007, if interest on the loan is earned at 8.5%/year compounded quarterly?
Q: If the finance charge on a loan made by Marjorie Young is $1,950 and the loan is to be paid in 24…
A: A loan amount represents the amount borrowed at a fixed interest rate to be repaid over a fixed…
Q: 1. A person deposits an amount of 100 dinars on the first day of each month of the year 2015, and…
A: The future value is the amount that will be received at the end of a certain period. In simple…
Q: A debt of $17520 with internet at 6 % compounded quarterly is to be repaid by equal payments at the…
A: The question is based on the concept of Financial Management. Annuity refers to the series of equal…
Q: Angela read an advertisement for a P50,000 loan. The ad informs the borrower that the company only…
A: Interest = Principal × Interest rate = 50,000(0.18) = 9000 Interest per annum = 9000
Q: You invested $10,000 on February 8, 2021, in an account that pays 4% compounded monthly. If simple…
A: In case of partial period calculation and when compounding monthly, number of complete months taken…
Q: On January 1, 2013, your brother's business obtained a 30-year amortized mortgage loan for $350,000…
A: We can find the interest expenses for the year 2014 by accumulating the interest portion of each fo…
Q: What is the monthly payment on a loan of $5,000 at APR = 8% for one year.
A: Loan amount (LV) = $5000 Interest rate = 8% Monthly interest rate (i) = 8%/12 = 0.666666666666667%…
Q: CM company borrowed 2000000 from a bank on june 30 2015. the loan has an annual interest rate of 10%…
A: A loan is a sum of money borrowed from a third party, such as a bank, and reimbursed in…
Q: Interest expense for a quarter is calculated based on the loan balance at the end of the previous…
A: Interest is the cost of loan which is charged as a percentage on the principle amount.
Q: 1. CM Company borrowed Php2 000 000 from a bank on June 30, 2015. The loan has an annual interest…
A: Amortization table is shown below
Q: How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client…
A: Interest Income Interest income refers to the amount of money that is paid by the borrower to the…
Q: At the 31th of December, 2014. Liverpool. Co got long term loan of $1000,000 from TSB bank. if the…
A: On 31.12.2014, Liverpool Co. got long term loan = $1000000 from TSB bank Annual interest rate = 12%…
Q: Given: Find the interest deducted in advance of a P90,000.00 bank discount note with an interest…
A: The bank discount note duration is from 4 June 2011 to 3 March 2012.
Q: Discount Mart borrows $400,000 on November 1, 2020 with a 6-month loan that has an annual interest…
A: Interest Payable on December 31, 2020 = Amount borrowed x rate of interest x no. of months /12 =…
Q: require an annual fee of 50,000 and an interest of 1% per month. On March 1, 2020, 3,000,000 is used…
A: Interest on remaining period on purchase value in credit line Purchase value = 30,00,000 used upto…
Q: Your business requests a 3-month loan for $450,000. What will be the interest paid at the end of the…
A: A loan is a type of debt that a person or another entity assumes. The lender, which is often a…
Q: WHAT I CAN DO? Solve and show your solution and explanations in a separate paper. 1. CM Company…
A: Loan is an amount which is borrowed from external sources like banks for a specific period. This…
Q: On January 1, 2021, Stoops Entertainment purchases a building for $580,000, paying $110,000 down and…
A: Solution: Journal Entries Date Particulars Debit Credit 31-Jan-21 Interest expense…
Q: Which interest rate compounded annually is Watson paying on this loan?
A: Information Provided: Loan amount = $44,940 Periodic payment = $10,000 Years = 10
Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 4 years.
A: Loan amount (LV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period = 4…
Q: What lump-sum amount of interest will be paid on a $10,000 loan that was made on August 1, 2012, and…
A: Principal (P)= $10,000 Rate (R)= 10% per year Time(T)= 4 years and 3months We have to calculate…
Q: On 1/1/2017, a loan of RM80,000 was taken and has to be repaid in level payment at the end of each…
A: Given:
Q: If a loan of ₱45,000 will amount to ₱76,400 when converted quarterly for 3.25 years what interest…
A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…
Q: On January 1, 2019, Zoom Bank provided a loan of P4,000,000 to D Company. Under the loan agreement,…
A: An impairment loss is the amount by which the carrying amount of an asset or a cash-generating unit…
Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 3 years
A: Compound interest is the interest on a loan or deposit calculated based on both the initial…
Q: Metrobank made a $2,000,000, 8% loan on January 1, 2018. The $160,000 interest is receivable at the…
A: Loan impairment loss is the amount of difference between the fair value and carrying value of the…
Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 5 years.
A: Compound Interest = P(1+r/n)^nt - PWhere P = Principal = $5,000R = Rate on interest = 6%N = number…
Q: A loan payment of $3200 was due 3 months ago, and another payment of $1800 is due in 6 months from…
A: Present value computes the existing value of future benefits by discounting future worth with a…
Q: ESD Company borrowed 5 million pesos from a bank on September 30, 2015. The loan principal is…
A: Interest expense is the interest amount paid by the borrower of the loan at regular time interval.…
Q: 1. CM Company borrowed 2,000,000 from a bank on June 30, 2015. The loan has an annual interest rate…
A: Loan and its repayment: A loan that's taken out by an individual or a company is usually repaid in…
Q: A. CM Company borrowed 2000,000 pesos from a bank on June 30, 2015. The loan has an annual interest…
A: Amortized loan is one in which the borrower is required to make regular, planned instalments that…
Q: What is the approximate amount of each payments that Yumati will need to make?
A: Here is the calculation for the above question.
Q: CM Company borrowed Php2 000 000 from a bank on June 30, 2015. The loan has an annual interest rate…
A: Amortized loan is one in which the borrower is required to make regular, planned instalments that…
Q: In 2014, Bank A paid 3% interest, compounded daily, on a 8-year CD, while Bank B paid 3% compounded…
A: Effective interest rate: An interest rate that takes into consideration the compounding effect over…
Q: A loan of P15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due…
A: Notes Payable - Notes Payable is the liability for the company which needs to be paid after a fixed…
Q: Suicune Bank granted a P5,000,000 loan to Raikou Company on January 1, 2020. The annual interest on…
A: Effective Interest Rate- The effective rate of interest is the interest rate that can be paid or…
Q: What is the monthly payment on a loan of $5,000 at APR = 6% for one year.
A: Loan amount (PV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Number of…
Q: A business borrowed $50,000 at 8% compounded monthly. If the loan is to be paid in equal quarterly…
A: In this problem, the number of payment period and compounding is not the same, hence, we will first…
Q: On December 31, 2016, Rocky Bank has a loan receivable of P4,000,000 from a borrower that it's…
A:
Q: CM Company borrowed 2,000,000 from the bank on June 30, 2015. The loan has an annual interest rate…
A: A loan appears to be an engagement where a lender makes funds available to another party in return…
Q: What sum of money will be required will be required to discharge a loan of P7,800 on April 1.2020,…
A: The future value of a present value is the value of that amount after taking into account the time…
Q: What future amounts is due at the end of the loan period?
A: Loan amount = php 2500 Period of 13 months, from january 1 to january 31 the following year.…
Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 4 years.
A: Loan amount = $5000 Interest rate = 6% Period = 4 Years
Q: On January 1, 2013, your brother's business obtained a 30-year amortized mortgage loan for $350,000…
A: Present value of all the monthly installments is equal to the loan amount. Equated monthly…
Q: How much interest expense should be accrued
A: Interest charged on the principal amount at a fixed rate for a fixed period of time is known as…
Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 5 years.
A: Loan amount (PV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period = 5…
Q: Use the information presented below in answering questions 11-15. On December 31, 2018, Tina…
A: "As per the policy of our company, we are allowed to answer only the first three sub-parts in case…
Q: How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client…
A: Interest Income - It is the amount of money paid by the borrower over and above the loan amount to…
Using the exact method, how much money will be required on July 6, 2016, to repay a loan of $5000 made on September 6, 2007, if interest on the loan is earned at 8.5%/year compounded quarterly?
Step by step
Solved in 3 steps
- CM company borrowed 2000000 from a bank on june 30 2015. the loan has an annual interest rate of 10% and the principal is payable at the end of every quarter amounting to 25000. the first quarterly payment will be on september 30, 2015. prepare an amortization schedule for 2015 until the loan is fully paid on june 30, 2017. how much interest expense is incurred in 2015 and 2016 with respect to this loan?What sum of money will be required will be required to discharge a loan of P7,800 on April 1.2020, if the loan is made on October 1, 2011 at a rate of 9% compounded quarterly?How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount Origination fee received from the borrower Direct origination cost Indirect origination cost incurred After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 9%. 1,000,000 44,900 120,856 12,000
- What lump-sum amount of interest will be paid on a $10,000 loan that was made on August 1, 2012, and repaid on November 1, 2016, with ordinary simple interest at 10% per year?How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount Origination fee received from the borrower Direct origination cost Indirect origination cost incurred After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 9%. 1,000,000 44,900 120,856 12,000 O 90,000 O 96,836 O 120,000 O 129,115 O Answer not givenIf you borrow $1000.00 on May 1, 2019, at 12% compounded semi-annually, and interest on the loan amounts to $103.76, on what date is the loan due?
- On September 1, 2014, Watson Company received a loan of $44,940 from One Finance Company. To pay off this loan, Watson Company will have to pay One Finance $10,000 each year for ten years. The first payment is due September 1, 2015. Which interest rate compounded annually is Watson paying on this loan?A $700,000 loan was received on Nov. 30, 2022, with annual interest at 9.5%, C/M, requires monthly, end of period payments of $7,700, beginning Dec.31, 2022. How many payments are needed to fully pay off the loan? How much will the final payment be? How much interest is paid on the 30th payment? What is the balance still owing after 10 years? How much of the loan principal will be paid, in total, during years 6 and 7? How much interest is paid, in total, during the life of the loan?You apply for a loan of $151,000 with the following terms: A 7-year loan with semi-annual payments of $14,800 (paid at the end of each period). Based on this information, what is the APR of this loan? (Note: All answers are rounded to two decimals) 4.53% 4.82% 8.42% 9.06% 8.78%
- On May 3, 2020, Leven Corporation negotiated a short-term loan of $660,000. The loan is due October 1, 2020, and carries a 5.40% interest rate. Use ordinary interest to calculate the interestCM Company borrowed 2000,000 pesos from a bank on June 30, 2015. The loan has an annual interest rate 10% and the principal is payable at the end of every quarter amounting to 250,000 pesos. The first quarterly payment will be on September 30, 2015 prepare an amortization schedule for 2015 until the loan is fully paid on September 30, 2017. How much interest expense is incurred in 2015 and 2016 with respect to this loan?What annual rate of return is implied on a $2,500 loan taken next year when $4,750 must be repaid in year 6 ? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
