How many dollars of the payment will go toward interest

Assignment Help Accounting Basics
Reference no: EM132195300

Question - Consider a 27 year loan for $191663 at an annual interest rate of 8%. If payments are made yearly, how many dollars of the 16th payment will go toward interest? Round your answer to the nearest dollar.

Reference no: EM132195300

Questions Cloud

How you believe that this interaction might materialize : Discuss how you believe that this interaction might materialize if you are in the position of leadership over this person.
How much does she still owe : Maria takes out a 30-year mortgage for $247621 at an annual interest rate of 4.9%. How much does she still owe
Memorandum to the ceo about organization update : How would a senior vice president start a memorandum to the CEO about organization update?
Performance tests are so sensible and efficient : If performance tests are so sensible and efficient shouldn't they be used in all selection situations why or why not.
How many dollars of the payment will go toward interest : Consider a 27 year loan for $191663 at an annual interest rate of 8%. If payments are made yearly, how many dollars of the 16th payment will go toward interest
Describe considerations for leading multicultural teams : Describe the leadership approaches preferred in the cluster that will be visited. Describe considerations for leading multicultural teams.
How much should each of his deposits be : Juan has a goal of saving up $55328 by making biweekly (26 per year) deposits into a savings account, how much should each of his deposits be
Discuss the role and importance of organizational culture : Discuss the role and importance of organizational culture in promoting organizational change, organizational learning, and quality of healthcare.
How much interest did he pay : Bill took out a 5 year loan to buy a car. If the loan carried an annual interest rate of 5.5% and he made monthly payments of $305, how much interest did he pay

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Make the service revenue sales budget for 2012 by listing

garza and neely cpas are preparing their service revenue sales budget for the coming year 2012. the practice is divided

  The proposed quality control system involves the purchase

the brisbane manufacturing company produces a single model of a cd player. each player is sold for 207 with a resulting

  How broadly should courts hold accountants liable

The demise of Arthur Anderson, one of the world's largest CPA firms during the Enron scandal, taught all of us how quickly an accounting enterprise can destroy.

  Compute the annual depreciation charges

Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying straight-line method

  Identify the amount and timing of all cash flows

Identify the amount and timing of all cash flows related to the acquisition of the new equipment

  Identify any potential problems for terry or the corporation

Terry, purchased her stock from a previous shareholder (a nonresident alien) on January 18. Identify any potential problems for Terry or the corporation

  Ariane electronics power supply devices in their plant

ariane electronics power supply devices in their plant located in malayasia. the pwoer supply supplies are used in

  When dealing with reports for managerial accounting

When dealing with reports for managerial accounting purposes timeliness becomes an important consideration.

  Effect of journal entries on financial statements

The preceding 13 different accounting events are presented in general journal format. Use a horizontal statements model to show how each event affects the balance sheet, income statement and statement of cash flows. Indicate whether the event increas..

  Chart of flow of costs form processing department accounts

Prepare a chart of the flow of costs form the processing department accounts into the finische gooss accounts and then into the cost of goods sold account. The relevant accounts are as follows:

  Current preferred dividend preferred available for common

200000 shares of no-par common stock. 2. 10000 shares of 100 par 8 percent cumulative preferred stock.on february 1

  Was this an internal or external stakeholder?

Using an Internet search engine, determine who the whistleblower was at Enron. Summarize the circumstances. What was the relationship of this person with the company? Was this an internal or external stakeholder?

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