Katec Corporation borrowed $79000.00 at 3% compounded monthly for 13 years to buy a warehouse. Equal payments are made at the end of every month. (a) Determine the size of the monthly payments. (b) Compute the interest included in payment 68. (c) Determine the principal repaid in payment period 28. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.
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- Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Katec Corporation borrowed $79000.00 at 3% compounded monthly for 13 years to buy a warehouse. Equal payments are made at the end of every month. (a) Determine the size of the monthly payments. (b) Compute the interest included in payment 68. (c) Determine the principal repaid in payment period 28. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals. Please step by step answer.Towline Corporation borrowed S75,000.00 at 11% compounded monthly for 10 years to buy a warehouse. Equal payments are made at the end of every month. (a) Determine the size of the monthly payments (b) Compute the interest included in payment 37. (c) Determine the principal repaid in payment period 7. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals (a) The size of the monthly payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
- Moranex Corporation borrowed $75,000.00 at 8 % compounded annually for 15 years to buy a warehouse. Equal payments are made at the end of every year. (a) Determine the size of the annual payments. (b) Compute the interest included in payment 7. (c) Determine the principal repaid in payment period 6. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals. Comms (a) The size of the annual payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.).Tricana Corporation borrowed $75,000.00 at 3% compounded monthly for 14 years to buy a warehouse. Equal payments are made at the end of every month. (a) (b) (c) (d) Determine the size of the monthly payments. Compute the interest included in payment 23. Determine the principal repaid in payment period 79. Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals. (a) The size of the monthly payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest included in payment 23 is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The principal repaid in payment period 79 is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) Complete the table below for the first three payments in the…Tricana Corporation borrowed $80,000.00 at 4% compounded quarterly for 9 years to buy a warehouse. Equal payments are made at the end of every 3 months. (a) (b) (c) (d) Determine the size of the quarterly payments. Compute the interest included in payment 16. Determine the principal repaid in payment period 11. Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals. (a) The size of the quarterly payment is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest included in payment 16 is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The principal repaid in payment period 11 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) Complete the table below for the first three payments in the…
- Corporation borrowed $80,000.00 at 11% compounded semi-annually for 14 years to buy a warehouse. Equal payments are made at the end of every 6 months. (a) Determine the size of the semi-annualpayments. (b) Compute the interest included in payment 9. (c) Determine the principal repaid in payment period 6. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.Locust Inc. owes $17,000.00 to be repaid by monthly payments of $490.00. Interest is 4% compounded monthly. (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totalsK Locust Inc. owes $13,000.00 to be repaid by monthly payments of $470.00. Interest is 11% compounded monthly (a) How many payments will Locust Inc. have to make? (b) How much interest is included the 11th payment? (c) How much of the principal will be repaid in the 8th payment period? (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals. (a) The number of the monthly payment is 33 (Round the final answer up to the nearest whole number. Round all intermediate values to six decimal places as needed.) (b) The interest is $ (Round the final answer to the needed.) mim GEXCE hs cent as needed. Round all intermediate values to six decimal places as [#] Vi n BE (40) X 0
- Stinson Corporation borrowed $85,000 at 8% compounded quarterly to buy a warehouse. Monthly payments of $1200 were made over the term of the loan. Construct a partial amortization schedule showing the last 2 payments. Determine the total amount paid to settle the loan. Show work, not just the answer. Determine the total principal repaid. Determine the total amount of interest paid. Show work, not just the answer.Sharapova Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapova Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment. Annual Period Interest Expense Annual Payment Principal Payment Ending Balance 1 2 4 5 PLEASE NOTE: All dollar amounts will be rounded to two decimal places with "$" and commas as needed (i.e. $12,345.67). For the journal entry, you must enter the account names exactly as written below and for accounts having similar accounting treatment (DR or CR), you are to record Balance Sheet accounts first, followed by Income Statement accounts. [HINT - You definitely will want to use this EXCEL spreadsheet Chapter13 HW-02 #3 Worksheet.xlsx a to assist in your calculations.] Based on the amortization schedule above and using the following accounts, Principal Payment Cash Interest Income LT Notes Payable Annual…Sharapova Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapova Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment. Annual Period Interest Expense Annual Payment Principal Payment Ending Balance 1 2 3 4 5 PLEASE NOTE: All dollar amounts will be rounded to two decimal places with "$" and commas as needed (i.e. $12,345.67). For the journal entry, you must enter the account names exactly as written below and for accounts having similar accounting treatment (DR or CR), you are to record Balance Sheet accounts first, followed by Income Statement accounts. Based on the amortization schedule above and using the following accounts, Principal Payment Cash Interest Income LT Notes Payable Annual Payment Interest Expense provide the journal entry for the…