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Need help for the additional question in b,c,d,e On October 1, 2021, Kirby Constuction wanted to borrow $45.000. The bank has presented several different options.
Need help for the additional question in b,c,d,e
On October 1, 2021, Kirby Constuction wanted to borrow $45.000. The bank has presented several different options. For each option... 1.) Complete the amortization table 2.Determine the amount of interest that will accrue from October 4 through to December 31 in 2021. 3.) Determine the amount of principal that will be paid in 2022 a. $45,000 for 3 years at 9% interest. There are no payments until the end of the three years. Additional Questions: Interest Principal Carrying Date Cash payment expense portion Amount 45,000 2.) Interest in 20217 #1: Oct 1, 2022 #2: Oct. 1. 2023 3.) Principal in 20227 #3: Oct. 1. 2024 b. $45,000 for 3 years at 9% interest. The interest is paid every year and the principle is paid at the end of the three years Interest Principal Carrying Date Cash payment expense portion Amount 45,000 #1: Oct. 1. 2022 #2Oct. 1. 2023 #3: Oct. 1. 2024 2.) Interest in 20212 3.) Principal in 2022? c. $45,000 for 3 years at 9% Interest. The company makes instalment payments of $15,000 each year plus interest Interest Principal Carrying Date Cash payment expense portion Amount 45.000 #1: Oct. 1, 2022 12 Oct. 1. 2023 #3: Oct. 1, 2024 2.) Interest in 2021? 3.) Principal in 20227 2.) Interest in 20217 3.) Principal in 2022 d. $45,000 for 3 years at 9% interest. The company makes blended payments (principle and interest) of $17.777.46 cash each year Interest Principal Carrying Date Cash payment expense portion Amount 45.000 #1: Oct 1, 2022 12. Oct. 1, 2023 : Oct. 1.2024 e. $45,000 for 3 years at a discount The company makes interest payments of 7% x 45,000 = $3,150 each year but the market rate of interest is 9% Interest Principal Carrying Payment Cash payment expense portion Amount 45,000 #1: Oct 1, 2022 #2: Oct 1, 2023 13. Oct. 1.2024 2.) Interest in 20217 3.) Principal in 20222 Date Collegament Interest Expense principal portion Colaying @ 4050 45,000 49,050 53,465 4415 #roti, 2022 # 2: oct 2023 #3: oct, 2024 58,294 4812 45,000 45,000 yoso 4050 #1: oct), 2022 # 2: octt, 2023 44poo 4050 4050 #3: octi, yoso 45,00 4050 2024 49000 #octi, 19050 yoso 15,000 2022 15,000 15.000 17,700 2700 1 Soco 1350 16,350 # 2:octi, 2023 # 3: oct 2024 a #1: olti 20) 2 7,000 96. 4o 5o 13,727.46 31,272.54 2014.53 14,962.46 16,310.03 16,310.08 # 2: oct, 17,777.41 02 Dy 2700 17,700 19ooo # 2: octu, 2023 # 3: oct, 2024 1350 16,350 Y,000 1,777.46 4050 #1: octs, 2012 13,127.46 3),272.54 17,777.42 281453 14,962.46 16,310,03 16,310.08 # 2: oct! 2023 # 3:0cti, 2024 1467.91 17,777.46 (Randott) 45,000 45,900 46,881 3150 Youo 4131 #oct!, 2022 #2: oct!, LO23 # 3:oct, 2024 3 150 47,950 4219 3150 16,310.08 1467.91 2023 # 3: oct), 2024 17,77.46 (Randot) 45,000 45,900 46,881 3150 Youo 4131 #olti, 2022 #2: oct, LO23 #3:0ct, 2024 3150 47,950 4219 3150 Interest in 2021 = % 45,000 x 9). + 3 / 1.73 1350 principal in 2022 = 45,000 x 9Step by Step Solution
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