A company has an outstanding mortgage on a building on which it originally borrowed $140,000 for an

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Question:

A company has an outstanding mortgage on a building on which it originally borrowed $140,000 for an 8-year mortgage at 10.75% annual rate of interest. The mortgage is paid quarterly.

What is the quarterly mortgage payment on the property?
Prepare an amortization table for the mortgage
(Annuity payments) Calvin Johnson has a $5,000 debt balance on his Visa card that charges 12.9 percent APR compounded monthly. In 2005, Calvin's minimum monthly payment is 3 percent of his debt balance, which is $150.
How many months (round up) will it take Calvin Johnson to pay off his credit card if he pays the cur rent minimum payment of $150 at the end of each month?
In 2006, as the result of a federal mandate, the minimum monthly payment on credit cards rose to 4 percent. If Calvin made monthly payments of $200 at the end of each month, how long would it take to pay off his credit card?
(Annuity payments) Mr. Bills Preston, Esq., purchased a new house for $280,000. He paid $80,000 upfront on the down payment and agreed to pay the rest over the next 25 years in 25 equal annual payments that include principal payments plus 6.2 percent compound interest on the unpaid balance.
What will these equal payments be?
Show on a spreadsheet how the loan will be paid off
(Annuity payments) The Knutson Corporation needs to save $15 million to retire a $15 million mortgage that matures in 10 years. To retire this mortgage, the company plans to put a fixed amount into an account at the end of each year for 10 years. The Knutson Corporation expects to earn 5.7 percent annually on the money in this account.
What equal annual contribution must the firm make to this account to accumulate the $15 million by the end of 10 years?
Prepare, on a spreadsheet, how the deposits will accumulate to $15 Million