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need some help on this last part (d) please? mra=2+11+1 Prepare a note amortization schedule for these new payments for the next 2 years. (Round
need some help on this last part (d) please?
mra=2+11+1 Prepare a note amortization schedule for these new payments for the next 2 years. (Round answers to 0 decimal places, es. 38,548.) Compute the amount of the new quarterly payments, (Round present volue factor calculations to 5 decimal places, eg. 1.25124 and the final answer to 0 decimal places, es. 58,971.) The new quarterly payments (d) Prepare a note amortization schedule for these new payments for the next 2 years. (Round onswers to 0 decimal places, eg. 38,548 .) Sweet Inc developed a new sales gimmick to help sell its inventory of new automobiles. Because many new car buyers need financing. Sweet offered a low downpayment and low car payments for the first year after purchase. It believes that this promotion will bring in some new buyers. On January 1, 2025, a customer purchased a new $35,000 automobile, making a downpayment of $1,000. The customer signed a note indicating that the annual rate of interest would be 8% and that quarterly payments would be made over 3 years. For the first year, Sweet required a $400 quarterly payment to be made on April 1, July 1. October 1, and January 1, 2026. After this one-year period, the customer was required to make regular quarterly payments that would pay off the loan as of January 1, 2028. Click here to view factor tables: (a) Prepare a note amortization schedule for the first year. (Round answers to 0 decimol places, es. 38,548.) Indicate the amount the customer owes on the contract at the end of the first year. (Round answer to 0 decimal ploces, eg. 38,548.) The customer owes on the contract at the end of the first year eTextbook and Media Assistance Used Attempts: 1 of 4 used (c) Compute the amount of the new quarterly payments. (Round present value foctor colculations to 5 decimal places, eg 1.25124 and the final answer to 0 decimal places, eg. 58,971. The new quarterly payments Sweet inc developed a new sales gimmick to help sell its inventory of new automobiles. Because mary new car buyers need financing. Sweet offered a low downpayment and low car payments for the first year after purchase. it believes that this promotion will bring in some new buyers. On January 1, 2025, a custorner purchased a new $35,000 automobile, making a downpayment of $1,000. The customer signed a note indicating that the annual rate of interest would be 8% and that quarterly payments would be made over 3 years. For the first year, Sweet required a $400 quarterly payment to be made on April 1, July 1, October 1, and January 1, 2026. After this one-year period, the customer was required to make regular quarterly payments that would pay off the loan as of January 1, 2028. Clickhere to view factor tables. (a) Your answer is correct. Prepare a note amortization schedule for the first year. (Round answers to 0 decimal ploces, F8,38,548 ) Step by Step Solution
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