Question

Boston Healthcare has just borrowed $2,000,000 on a seven-year, annual payment term loan at a 6...

Boston Healthcare has just borrowed $2,000,000 on a seven-year, annual payment term loan at a 6 percent rate. The first payment is due one year from now. Construct the amortization schedule for this loan.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
home healthcare has just borrowed $2,000,000 on a five-year, annual payment term loan at a 15...
home healthcare has just borrowed $2,000,000 on a five-year, annual payment term loan at a 15 percent rate. the first payment is due one year from now. construct the amortization schedule for this loan please explain using PMT in excel format. I need to input this into excel
Consider a $75,000 mortgage loan with an annual interest rate of 4 percent. The loan term...
Consider a $75,000 mortgage loan with an annual interest rate of 4 percent. The loan term is seven years, but monthly payments will be based on a 30-year amortization schedule. What is the monthly payment? What will be the required balloon payment at the end of the loan term?
Allysha just borrowed 39,900 dollars. She plans to repay this loan by making a special payment...
Allysha just borrowed 39,900 dollars. She plans to repay this loan by making a special payment of 5,000 dollars in 5 years and by making regular annual payments of 7,900 dollars per year until the loan is paid off. If the interest rate on the loan is 4.79 percent per year and she makes her first regular annual payment of 7,900 dollars in one year, then how many regular annual payments of 7,900 dollars must Allysha make? Round your answer...
Allysha just borrowed 42,400 dollars. She plans to repay this loan by making a special payment...
Allysha just borrowed 42,400 dollars. She plans to repay this loan by making a special payment of 6,500 dollars in 3 years and by making regular annual payments of 7,100 dollars per year until the loan is paid off. If the interest rate on the loan is 7.82 percent per year and she makes her first regular annual payment of 7,100 dollars in one year, then how many regular annual payments of 7,100 dollars must Allysha make? Round your answer...
Loan amortization schedule  Personal Finance Problem Joan Messineo borrowed 41,000 at a 4​% annual rate of...
Loan amortization schedule  Personal Finance Problem Joan Messineo borrowed 41,000 at a 4​% 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.
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,...
Fatima just borrowed 111,412 dollars. She plans to repay this loan by making a special payment...
Fatima just borrowed 111,412 dollars. She plans to repay this loan by making a special payment of 30,056 dollars in 4 years and by making regular annual payments of 13,870 dollars per year until the loan is paid off. If the interest rate on the loan is 13.61 percent per year and she makes her first regular annual payment of 13,870 dollars immediately, then how many regular annual payments of 13,870 dollars must Fatima make? Round your answer to 2...
?Joan Messineo borrowed $16,000at a15%annual rate of interest to be repaid over 3 years. The loan...
?Joan Messineo borrowed $16,000at a15%annual rate of interest to be repaid over 3 years. The loan is amortized into three? equal, annual,? end-of-year paymen a.??Calculate the? annual, end-of-year loan payment. b.??Prepare a loan amortization schedule showing the interest and principal breadown of each of the three loan payments. c. Explain why the interest portion of each payment declines with the passage of time. ?Show calculations
The XYZ Company has borrowed $100,000. Payments will be made over a four-year period (first payment...
The XYZ Company has borrowed $100,000. Payments will be made over a four-year period (first payment at the end of the first year). The bank charges interest of 0.20 per year. a. The annual payment will be ________. b. The debt amortization schedule is Amount owed (beginning of period) Interest Principal 1 $100,000 2 3 4 c. If there are five payments with the first payment made at the moment of borrowing, the annual payment will be ________.
Construct an amortization schedule for a six-year, RM20,000 loan at 7% interest compounded annually a) If...
Construct an amortization schedule for a six-year, RM20,000 loan at 7% interest compounded annually a) If the first payment is made one year from now. Ans: P = RM 4,195.92 b) If the first payment is made immediately. Ans: P = RM 3,921.42
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT