User Account

All Pages

What percentage of the total interest has been paid

Assignment Help Accounting Basics
Reference no: EM133176688

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 $319,000

Interest Rate 16.1%

Life 54 years

Date of Loan January 1, 2021

Required -

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

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

3. After 34 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?

4. After 34 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)?

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

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

7. After 34 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?

8. After 34 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)?

Reference no: EM133176688

Questions Cloud

List five illegal practices : Many laws protect borrowers from unscrupulous practices. List five illegal practices that you as a borrower are protected against when borrowing.
Interpreting data conveyed using a histogram : Discuss two strategies that might be used for interpreting data conveyed using a histogram. Provide specific examples to illustrate each strategy.
Explain how they implemented the change to solve : A company who was facing problem or situation. What were the key concepts. What was the issue experienced by the company and factors contributing to resistance.
Propose public-sector labor relations system : Propose a public-sector labor relations system for the employees of the city government. What would it borrow from the private sector?
What percentage of the total interest has been paid : After 34 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)
Challenges of multi-cultural healthcare facility : What are some of the possible communication barriers and challenges of a multi-cultural healthcare facility? Include recommendations for addressing barriers
Determine future changes in business resource needs : Select an organisation with which you are familiar to complete this project. If necessary you may have to arrange to interview key people from this organisation
Prepare a schedule of cash receipts from sales for april : The company budgets sales of $529,000 for April, $539,000 for May, and $564,000 for June. Prepare a schedule of cash receipts from sales for April
Briefly explain the budgeting process : Why is it important to consult colleagues, stakeholders, and specialist personnel? Briefly explain the budgeting process

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the deposit that must be made to earn

Using the simple interest formula I = Prt, determine the deposit that must be made to earn $63.14 in 113 days at 8.73% p.a. The deposit required is $].

  The resolute resort hotel currently operates at a 75

the resolute resort hotel currently operates at a 75 occupancy using a rack rate for all rooms of 60 and a marginal

  An accountant believes that in month 7 the machine hour

determine if there is a relationship between machine hours and utility costs using the following

  What style does gregory seem to be using

What leadership style would you say Gregory's predecessor used? What style does Gregory seem to be using? Is this style appropriate

  Compute the net interest expense to be reported

Compute the net interest expense to be reported for this note and related swap transaction as of June of June 30, 2018

  What the cost of direct materials charged to Jobs

Ending work in process referred to Job 106 which was charged with direct labor of P12,000. What the cost of direct materials charged to Jobs

  Why should companies pay attention to economic factors

Why should companies pay attention to economic factors when managing the organization's current and future financial information?

  Prepare journal entries

Exclusive Furs imports furs from Canada. Prepare journal entries to record the following: The current exchange rate is .80 USD per Canadian dollar

  Lett corporation is investigating buying a small used

lett corporation is investigating buying a small used aircraft for the use of its executives. the aircraft would have a

  Discuss the capital budgeting process

Discuss the capital budgeting process and the inputs that are used in capital budgeting. What is the target cost, and how is it determined

  Why do think the competitor decided to reduce

Do you think students at the University will notice the change? Would you advise Kevin and Sara to make the same change to their pizza formulation? Why?

  Determine the nominal value of hasit and chandni portfolio

Using the weighted return (rounded to the nearest whole percent) from question 2 and the Investment Return Calculator, determine the nominal value of Hasit.

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