XQuestion 8TD Canada Trust issued a loan of $96,000 at 7.76% compounded semi-annually. Theloan was repaid by payments of $3,690 at the end of every quarter.a. How many payments were required to pay off the loan?(Enter a whole number)b. What was the total principal repaid in the 7th year?(Enter starting and ending periods as P1 and P2 and the totalprincipal repaid as a positive value to the nearest cent.)P1 =P2 =Total principal repaid in the 7th year = $c. What was the size of the final payment?(Enter a positive value to the nearest cent)$> Next Question

Periodic payment refers to an amount being paid at each period for the repayment of loan amount by…

Answered: TD Canada Trust issued a loan of…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
G CIBC issued a loan of $76,000 at 8.37% compounded semi-annually. The loan was repaid by payments of $1,000 at the end of every month. a. How many payments were required to pay off the loan? (Enter a whole number) b. What was the total principal repaid in the 5th year? (Enter starting and ending periods as P1 and P2 and the total principal repaid as a positive value to the nearest cent.) PL= P2 Total principal repaid in the 5th year $ c. What was the size of the final payment? (Enter a positive value to the nearest cent) Next Question
A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end of each year for n years. (i) The interest portion of the final payment is 153.86. (ii) The total principal repaid as of time (n − 1) is 6009.12. (iii) The principal repaid in the first payment is Y. Calculate Y. OA. 500 OB. 470 O C. 480 O D. 490 OE. 510
TD Canada Trust issued a loan of $61,000 at 6.14% compounded semi-annually. The loan was repaid by payments of $810 at the end of every month. How many payments were required to pay off the loan? (Enter a whole number) interest paid as a positive value to the nearest cent.) P 1 = What was the total interest paid in the 6th year? (Enter starting and ending periods as P1 and P2 and the total P2 = Total interest paid in the 6th year = $ What was the size of the final payment? (Enter a positive value
Royal Bank issued a loan of $90,000 at 6.94% compounded semi-annually. The loan was repaid by payments of $3,350 at the end of every quarter. a. How many payments were required to pay off the loan? (Enter a whole number) b. What was the total principal repaid in the 5th year? (Enter starting and ending periods as P1 and P2 and the total principal repaid as a positive value to the nearest cent.) P1 = P2= Total principal repaid in the 5th year - $ c. What was the size of the final payment? (Enter a positive value to the nearest cent)
A loan of $245,000 is to be repaid in equal quarterly payments over a perioa of 6years. the interest rate is13.5% compounded quarterly, what is the amount of unpaid principal at the beginning of the third year?Oa. $183,825 b.$182,939c. $145,493 d. $240,916 e. $146,579
A $33,950 loan at 10.6% compounded semiannually is to be paid off by a series of $4,000 payments that will be made at the end of every six months. How much of the 10th payment will be credited towards reduction of the principal? A. $477 B. $497 C. $713 D. $1,005 E. $1,193
A loan of $24,800.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 5 years. a. Calculate the size of the periodic payment. $2,606.63 $3,211.71 $2,833.62 $3,111.33 b. Calculate the total interest paid. $3,536.20 $28,336.20 $702.58 $6,369.82
a. Complete an amortization schedule for a $12,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 11% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance $4 b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Do not round intermediate calculations. Round your answers to two decimal places. % Interest % Principal Year 1: % Year 2: % Year 3: % % %24 %24 %24 %24 3.
A loan of $245,000 is to be repaid in equal quarterly payments over a period of 6 years. If the interest rate is 12.5% compounded quarterly, what is the amount of unpaid principal at the beginning of the third year? a. $182,425 O b. $181,650 c. $143,920 O d. $144,864 O e. $234,594
12. An amortized loan is made at a nominal interest rate i(2) = 6%. The loan is paid off in 30 level semi-annual payments of $1,000. How much principal was paid off in the 10th раyment? (A) $537.55 (B) $547.55 (C) $557.55 (D) $567.55 (E) $577.55 (F) $597.55
a. Complete an amortization schedule for a $34,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. If an amount is zero, enter "0". Do not round intermediate. calculations. Round your answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 2 3. %24 %24 %24 %24 %24

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