User Account

All Pages

What percentage of the total interest has been paid

Assignment Help Accounting Basics
Reference no: EM133171709

Question - You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest)

Loan amount $536,000

Interest Rate 14.7%

Life 49 years

Date of Loan January 1, 2021

Use the installment method - not straight line

Do NOT round any interrmediate numbers.

Do NOT turn this into a monthly problem.

Do NOT put in minus signs, answer all positive numbers.

Required -

1. What is the annual payment (round to the nearest $)?

2. What are the total interest payments (round to the nearest $)?

3. After 29 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?

4. After 29 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)?

Reference no: EM133171709

Questions Cloud

What is the cash flow : If you decided to start a small business you must have some financial resources to survive your new business until you start generating some revenue.
How long will it takes for you to have the amount saved : You deposited RM500 every three months and wishes to have RM30,000 into an account with interest rates of 5.5% p.a. How long will it takes for you to have
Compute value-at-risk for abc ltd : Returns of both shares follow a normal probability distribution and abnormally bad market conditions are expected 5 per cent of the time. Compute Value-at-risk
Calculate equilibrium expected returns for stocks a and b : Expected return on the market portfolio is 10%, the risk-free rate is 6%. Calculate equilibrium expected returns for stocks A and B
What percentage of the total interest has been paid : After 29 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)
Prepare an income statement using variable costing : Dion produced 21,600 units, and 2,800 units remain in ending finished goods inventory for May. Prepare an income statement using variable costing
How much is the sum of the present value of expected return : Thus, the sum of the expected returns over those periods is $150,000. How much is the sum of the present value of the expected return
What is the cost of food consumed dollars : The following information was collected at the end of the month: Food Sales $122,330 Cooking Liquor $400. What is the Cost of Food Consumed dollars
Assess the major ethical issues in japan : The Goal: Research and assess the major ethical issues in Japan

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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