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for part d) i need 2 timetables ( payment number from 0 to 3) this is the second time table i need note: for a)
for part d) i need 2 timetables ( payment number from 0 to 3)
this is the second time table i need
note: for a) pls get the PVn (interest value then the n value)
for b) pls get the FV of the original debt after 11 years to the nearest cent and then get the FV of the 11 payments made to the nearest cent.
then
i think everything is clear... the main question is
Locust Inc. owes $14,000.00 to be repaid by monthly payments of $480.00. Interest is 10% compounded monthly. (a) How many payments will Locust Inc. have to make? (b) How much interest is included in the 12th payment? (c) How much of the principal will be repaid in the 6th 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 (Round the final answer up to the nearest whole number. Round all intermediate values to six decimal places as needed) home 4.00 View an Example yrnd Horos the Locunt in owes $21,000.00 to be repaid by monthly payments of $140.00. Interest is 5% compounded month Parti (a) How many payments will looustine have to make (b) How much interest is included in the 7th payment? (c) How much of the principal will be repaid in the 10th payment period? wo (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals Payment Principal Outstanding Number Amount Paid Interest Paid Repaid Principal Balance 0 1 2 3 11 Press Continue to see more in the 5 parts remaining Continue Close o @ In order to set up the last three payments, the previous balance is required. Since the original amount financed is known, use the retrospective method to find the previous balance. Find the previous balance, rounding to the nearest cent. Amount Paid Payment Number Interest Paid Principal Repaid Outstanding Principal Balance Subtract the future value of the payments made from the future value of the original debt to find the outstanding balance after payinents. To find the interest paid, multiply the outstanding balance at the end of the previous payment period by the periodic interest rate and the other photos is just to clearify how my teacher does it and for part p i need two timetables as i showed in the pictures i uploaded
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