Amoritization Schedule--I have the answers but need to show all work and formulas!
A. Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 10%.
The answer is: PMT = $6,594.94. Interest = $2,500. Interest = $2,090.51--Show all work/formula
B. How large must each annual payment be if the loan is for $50,000? Assume that the interest rate remains at 10% and that the loan is still paid over 5 years.
The answer is $13, 189.87--show all work and formulas.
C. How large must each payment be if the loan is for $50.000, the interest rate is 10% and the loan is paid off in equal installments at the end of each of the next 10 years? This loan is for the same amount as the loan in part b, but the payments are spread out over twice as many periods. Why are these payments not half as large as the payments on the loan in part b?
The first part of the answer is $8,137.27--show work and formula. The next part requires a written summary-logical answer. Please describe.
Which types of accounts are closed out to retained earnings at the end of an accounting period? 118.Name and briefly describe each of the four financial statements. ...Jan 25 2020
"In the corn market, demand often exceeds supply and supply sometimes exceeds demand.""The price of corn rises and falls in response to changes in supply and demand."In w...Apr 15 2021
What is an MIS report, have you prepared any?Jul 21 2021
Costs (8) 800 500 450 & 10. Umes et AUTEM Refer to Figure If two microwave ovens are produced average variable costs are Select one: a. $150. b. indeterminate from this i...Apr 05 2021
Claudine Soosay recorded the following times assembling a watch. Determine (a) the average time, (b) the normal time, and (c) the standard time taken by her, using a perf...Jul 30 2020
On June 1, 2010, Jorgensen Corporation purchased a piece of equipment with a list price of $ 200,000 and signed a five- year noninterest- bearing note. The market rate at...Apr 21 2020
Marketing managers must be cognizant of the unique characteristics of services: intangibility, inseparability, variability, and perishability. >Jul 24 2020
Ceramic engines continue to constitute an area of considerable interest and are frequently discussed in the popular literature. If perfected, they would allow higher oper...May 19 2020
Customer profitability. Bracelet Delights is a new company that manufactures custom jewelry. Bracelet Delights currently has six customers referenced by customer number: ...Jul 16 2020
Sunland Company is planning to sell 1100 boxes of ceramic tile, with production estimated at 870 boxes during May. Each box of tile requires 44 pounds of clay mix and a 0...Aug 09 2021