Calculate the size of the periodic payment

Assignment Help Accounting Basics
Reference no: EM133073664

Question - A loan of $28,950 at 4.55% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 6 years.

Required -

a. Calculate the size of the periodic payment.

b. Calculate the total interest paid.

Reference no: EM133073664

Questions Cloud

Describe any patterns found in volatilities : A stock price is currently $40 and the risk-free interest rate is 5%. Use Solver (or other approach) to translate the following table of European call options o
What is the npv of the new product line? : You are a consultant who has been hired to evaluate a new product line for Markum Enterprises. The upfront investment required to launch the product line is 7 m
How this matter will be dealt in the financial statements : The former employee started legal proceedings for unfair dismissal in October 20X6. Explain how this matter will be dealt in the financial statements
Financing entrepreneurial ventures : Name and briefly describe in your own words 3 of the 4 types of equity investors that we covered in the topic in the context of entrepreneurs raising capital.
Calculate the size of the periodic payment : A loan of $28,950 at 4.55% compounded semi-annually is to be repaid with payments at the end of every 6 months. Calculate the size of the periodic payment
Nominal and effective costs of trade credit : What are the nominal and effective costs of trade credit under the credit terms of 3/10, net 40? Assume a 365-day year. Do not round intermediate calculations.
Explain the top characteristics and traits : Identify and explain the top characteristics and traits that you feel make an effective law enforcement officer,
Find the expected return on the zero-risk portfolio : Shares of Zoom Video Communications (ZOOM) and Norwegian Cruise Line Holdings (NCLH) are two risky securities. The expected return of ZOOM is 6%, and its standa
What is your portfolio return for the year : Over the next year, your investment in Apple has 3% total return, while your investment in Boeing as 10% total return. What is your portfolio return for year

Reviews

Write a Review

Accounting Basics Questions & Answers

  How the sale portion of the sale-leaseback transaction

How the sale portion of the sale-leaseback? How the gain on the sale portion of the sale-leaseback transaction should be accounted for during the lease.

  Rea model for lgc data base

REA model for LGC data base. Show all cardinalities in the associations - LGC does not offer credit terms; all sales are for cash

  Prepare the journal entry at the date of purchase

Pronghorn Inc. has decided to purchase equipment from Central Michigan Industries on January 2, 2020, Prepare the journal entry at the date of purchase

  Which the debit entry to interest expense is for

On January 1, Pacer Corporation issued $2,000, On third interest payment date, using the effective-interest method, the debit entry to Interest Expense is for

  Purchasing merchandise on account

When purchasing merchandise on account for say $88,000, but you pay $67,000 cash on the $88,000 due. Your sales are $145,000, and the ending inventory is $24,000 what would the gross profit be?

  Identify the main account or groups of accounts

Describe the factors would you consider when allocating staff to the audit? Identify the main account or groups of accounts that could be impacted

  Calculate the company current ratio

Inventory of $3,000, Long-Term Assets of $40,000, Accounts Payable of $5,000 and a Long-Term Bank Loan of $50,000. Calculate the company's current ratio.

  What is the future value of an initial

What's the future value of an initial $100 after 3 years if it is invested in an account paying 10% annual interest

  Determine the interest earned by Todd Company

On December 31, 2012, four months' interest was accrued for the remaining bonds. Determine the interest earned by Todd Company

  Compute johnsons ending inventory at cost

Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnson's ending inventory at cost

  Calculate the rental cost per unit and the utilities cost

Sutton Pointers Corporation expects to begin operations on January. Calculate the rental cost per unit and the utilities cost per unit for both March and April.

  What is the balance in the supplies expense account

Prepare an income statement, balance sheet, and statement of cash flows for the 2013 accounting period.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd