Question

For a repayment schedule that starts at EOY three at $Z and proceeds for years 3...

For a repayment schedule that starts at EOY

three at $Z and proceeds for years 3 through 9 at $2Z​, $3Z​,..., what is the value of Z if the principal of this loan is

​$9,500 and the interest rate is 6​% per​ year? Use a uniform gradient amount​ (G) in your solution.

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Consider an EOY geometric gradient, which lasts for eight years, whose initial value at EOY one...
Consider an EOY geometric gradient, which lasts for eight years, whose initial value at EOY one is $5500 and g = 6% per year thereafter. For equivalent cash flow, find the equivalent uniform gradient amount, G over the same period if the initial value of the cash flows at the end of year one is $(4500). The interest rate is 10% per year. Write the complete equations used (e.g. P=A(P/A, 12%, 5)+ F(P/F,12%,5)) and substitute the values of the factors...
Create a loan repayment schedule for a loan of $30015 and payments of $8088 made annually....
Create a loan repayment schedule for a loan of $30015 and payments of $8088 made annually. Assume a rate of interest of 5.76% per year compounded annually. (a) What is the interest portion of the first payment? (b) What is the principal portion of the first payment? (c)What is the balance remaining after the first payment? (d) What is the interest portion of the second payment? (e)What is the principal portion of the second payment? (f)What is the balance remaining...
Amortization Schedule Consider a $50,000 loan to be repaid in equal installments at the end of...
Amortization Schedule Consider a $50,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 9%. Set up an amortization schedule for the loan. Round your answers to the nearest cent. Enter "0" if required Year Payment Repayment Interest Repayment of Principal Balance 1 $   $   $   $   2 $   $   $   $   3 $   $   $   $   4 $   $   $   $   5 $   $   $   $   Total...
Complete an amortization schedule for a $28,000 loan to be repaid in equal installments at the...
Complete an amortization schedule for a $28,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% 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                          What percentage...
Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $49,000 at a 3% annual rate of...
Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $49,000 at a 3% annual rate of interest to be repaid over 3 years. The loan is amortized into three​ equal, annual,​ end-of-year payments. a.  Calculate the​ annual, end-of-year loan payment. b.  Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan payments. c. Explain why the interest portion of each payment declines with the passage of time. a.  The amount of the​ equal,...
Prepare an amortization schedule for a three-year loan of $75,000. The interest rate is 8 percent...
Prepare an amortization schedule for a three-year loan of $75,000. The interest rate is 8 percent per year, and the loan agreement calls for a principal reduction of $25,000 every year. How much total interest is paid over the life of the loan? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Leave no cells blank. You must enter '0' for the answer to grade correctly.) Year Beginning Balance Total Payment Interest Payment Principal Payment...
Complete an amortization schedule for a $19,000 loan to be repaid in equal installments at the...
Complete an amortization schedule for a $19,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% 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                               What percentage...
Cajun Jack needs $45,000 for a boat used to hunt crocodiles that are used both for...
Cajun Jack needs $45,000 for a boat used to hunt crocodiles that are used both for their leather and meat. Cajun is considering taking a 9-year loan for the required amount and he talked to the lenders from his local Bank and Credit Union regarding loan options. The local bank charges 6.25% per year compounding quarterly and requires quarterly repayments. (a) Calculate the quarterly repayment for both principal and interest that Cajun would have to make on this loan. If...
Complete an amortization schedule for a $19,000 loan to be repaid in equal installments at the...
Complete an amortization schedule for a $19,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 9% 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                          What percentage...
Complete an amortization schedule for a $30,000 loan to be repaid in equal installments at the...
Complete an amortization schedule for a $30,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 9% 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                          What percentage...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT