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

  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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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