Semiannual payments of $3874.48 are made on a $50,000 loan at 6.5% compounded semiannually. How long will
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
Given PV 50000 PMT 387448 i 652 325 To pay off the loan requ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Kamin, Corp., completed the following transactions in 201 2: Jan 1 Purchased a building costing $150,000 and signed a 12%, 20-year mortgage note payable for the same amount. Jun 30 Made the first...
-
Semiannual payments are required on an $80,000 loan at 8.0% compounded annually. The loan has an amortization period of 15 years. a. Calculate the interest component of Payment 5. b. Calculate the...
-
The following is a list of w12 control plans from this chapter or from Chapters 8 through 12. Control Plans A. Digital signature B. Tickler file of open POs and receiving reports C. Procedures for...
-
When component Auditors are involved in the audit of group financial statements the group Auditors are required to a. consider the independence and professional reputation of the component Auditors...
-
On January 1, 20X5, Par Ltd. purchased 80% of the voting shares of Sub Ltd. for $ 906,400. The SFP of Sub Ltd. on that date was as follows: The accounts receivable, inventory, and current liabilities...
-
Angela Manternach, president of Manternach Designs, has instructed Carla Ruden, the head of the accounting department for Manternach Designs, to report the companys land in the companys accounting...
-
We first study 3-PBA, a commonly used insecticide found in grains, fruits, and vegetables. How much higher are 3-PBA concentrations while not eating organic versus eating organic? A bootstrap...
-
The financial statements of P&G are presented in Appendix B. The companys complete annual report, including the notes to the financial statements, is available online. Instructions Refer to P&Gs...
-
The Sanders Company issued 9.5% bonds, dated January 1, with a face amount of $8,000,000 on January 1, 2024. The bonds mature on December 31, 2033 (10 years). For bonds of similar risk and maturity,...
-
Linda, who files as a single taxpayer, had AGI of $280,000 for 2019. She incurred the following expenses and losses during the year: Medical expenses (before the 10%-of-AGI...
-
Harolds RRSP is already worth $56,000. Rounding n to the next higher integer, how long will it take the RRSP to reach $250,000 if additional contributions of $2000 are made at the end of every six...
-
The future value of an annuity consisting of end-of-year investments of $1658.87 earning 5.2% compounded annually is $100,000. How many annual investments were made?
-
Dr. Paul Oswiecmiski wants to estimate the mean serum HDL cholesterol of all 20- to 29-year-old females. How many subjects are needed to estimate the mean serum HDL cholesterol of all 20- to...
-
Continue Exercise R16.10 by providing a code example demonstrating the problem. Data from exercise R16.10 It is not safe to remove the first element of a linked list with the removeFirst method when...
-
The data file in Exercise E21.6 may end up with many deleted records that take up space. Write a program that compacts such a file, moving all active records to the beginning and shortening the file...
-
In a stream of random integers, filter out the even ones, call limit(n), and count the result. Set n to 10, 100, 1000, and so on. Measure the amount of time these operations take with a regular...
-
Implement a generic version of the permutation generator in Section 13.4. Generate all permutations of a List .
-
Read all words from a file into an ArrayList , then turn it into a parallel stream. Use the dictionary file words.txt provided with the books companion code. Use filters and the findAny method to...
-
Find the present value of a continuous stream of income over the next 4 years, where the rate of income is 50e -0.08t thousand dollars per year at time t, and the interest rate is 12%.
-
Create a data model for one of the processes in the end-of-chapter Exercises for Chapter 4. Explain how you would balance the data model and process model.
-
Consider the loan in BE6-16. What payments must Walt Frazier make to settle the loan at the same interest rate but with the 6 payments beginning on the day the loan is signed?
-
(Various Time Value Situations) Answer each of these unrelated questions. (a) On January 1, 2003, Rather Corporation sold a building that cost $250,000 and that had accumulated depreciation of...
-
(Various Time Value Situations) Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns. (a) What is the amount of the payments...
-
why you assume value of Machine A is assumed to decrease by $7,000 each year for the purpose of these calculations?
-
1. You want to create a Dog object. Which of the following would you use to describe it? (Choose all that apply.) A. String breed B. int age C. boolean isADog D. String ownerName E....
-
Part 1: Cathy Forth Photography Services (20 marks) You have been hired by Cathy Forth as her new bookkeeper. She has given you the following information: Use the current date and provide an...
Study smarter with the SolutionInn App