Quarterly payments of $3000 are required on an $80,000 loan at 6.0% compounded quarterly. a. Calculate the
Question:
Quarterly payments of $3000 are required on an $80,000 loan at 6.0% compounded quarterly.
a. Calculate the interest component of Payment 30.
b. Calculate the principal component of Payment 9.
c. Calculate the final payment.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 82% (17 reviews)
Given a Interest com...View the full answer
Answered By
Cyrus Sandoval
I a web and systems developer with a vast array of knowledge in many different front end and back end languages, responsive frameworks, databases, and best code practices. My objective is simply to be the best web developer that i can be and to contribute to the technology industry all that i know and i can do. My skills include:
- Front end languages: css, HTML, Javascript, XML
- Frameworks: Angular, Jquery, Bootstrap, Jasmine, Mocha
- Back End Languages: Java, Javascript, PHP,kotlin
- Databases: MySQL, PostegreSQL, Mongo, Cassandra
- Tools: Atom, Aptana, Eclipse, Android Studio, Notepad++, Netbeans.
Having a degree in Computer Science enabled me to deeply learn most of the things regarding programming, and i believe that my understanding of problem solving and complex algorithms are also skills that have and will continue to contribute to my overall success as a developer.
I’ve worked on countless freelance projects and have been involved with a handful of notable startups. Also while freelancing I was involved in doing other IT tasks requiring the use of computers from working with data, content creation and transcription.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Quarterly payments of $3000 are required on an $80,000 loan at 8.0% compounded quarterly. a. Calculate the interest component of Payment 30. b. Calculate the principal component of Payment 9. c....
-
A five-year loan of $25,000 at 7.2% compounded quarterly requires quarterly payments. a. Calculate the interest component of Payment 10. b. Calculate the principal component of Payment 13. c....
-
A five-year loan of $20,000 at 6.8% compounded quarterly requires monthly payments. a. Calculate the interest component of Payment 47. b. Calculate the principal component of Payment 21. c. Calculate...
-
First United Bank Inc. is evaluating three capital investment projects by using the net present value method. Relevant data related to the projects are summarized as follows: Instructions 1. Assuming...
-
The differential of pressure obtained from a certain equation of state is given by the following expression: dp = {- RT/(v - b)2}dv + {R/(v - b)}dT. Determine the equation of state.
-
A cue ball bounces off the rail of a pool table as shown in Figure Q7.12. The momentum of the ball changes.? (a) What is the source of the impulse?? (b) That is, what is the source of the force?? (c)...
-
In a survey of 1002 U.S. adults, 88% said that fake news has caused a great deal of confusion or some confusion. Determine whether the number is a parameter or a statistic. Explain your reasoning.
-
The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be...
-
How has the implementation of process intensification strategies, such as dividing-wall distillation columns, impacted energy efficiency and operational costs in large-scale industrial distillation ?
-
SHR Corporation is a midsize, publicly-traded direct marketer and retailer of outdoor sporting goods based in the United States. Its common stock is listed on the New York Stock Exchange under the...
-
The interest rate for the fast three years of an $280,000 mortgage loan is 4.8% compounded semiannually. Monthly payments are calculated using a 25-year amortization. a. What will be the principal...
-
Welland Fabricating borrowed $38,000 at 8% compounded quarterly to purchase a new piece of machinery. Payments of $4000 are made at the end of every quarter. a. Calculate the balance at the end of...
-
An iceberg initially at \(273 \mathrm{~K}\) is stopped in its motion by a small island. During the first few seconds of contact, \(10 \mathrm{~kJ}\) of energy is transferred thermally from the island...
-
(b) The first four spherical harmonics, Ym (0, 0), are given by YO = Y = = Y = == =X 1 4T =0 3 8 sin ei Y- = f(r) f(r)* rdr = 1 and i. By inspection (or calculation) express the wave function as a...
-
According to the principle that the more you know about someone, the more you will like them, divorce does not seem to be a logical outcome for married people. Nonetheless, it is a common occurence...
-
1. For each December 31 adjusting entry (for Industry J), indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the...
-
V=Veteran Veteran Non-veteran N= Non - veteran p(Ez0) = TOTAL p(Nn Es0) = p(N| Ego) = 4e IZed n the table 70-79 25 23 48 80-89 12 19 31 Ezo = age 70 to 79 90-99 TOTAL 7 11 41 49 p(Ero | 90 Ego = age...
-
EXPLAIN EACH LINE OF CODE import java.net.ServerSocket; import java.net.Socket; import java.util.ArrayList; import java.io.BufferedInputStream; import java.net.Socket; import...
-
Vintage Audio Inc. manufactures audio speakers. Each speaker requires $48 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period:...
-
Choose two matrices A and B with dimension 2 x 2. Calculate det A, det B, and det (AB). Repeat this process until you are able to discover how these three determinants are related. Summarize your...
-
What test can be used to compare the results in the active and control groups? The results of the study were as follows: 14 of the 50 active intervention children had an improvement in symptoms...
-
Suppose that 50 households are randomized per group. How much power would the study have under the above assumptions? Pulmonary Disease Asthma is an important health problem for inner-city children,...
-
How many subjects should be recruited in each group (same number per group) to have a 90% chance of detecting a significant difference using a two-sided test with = .05? Pulmonary Disease Asthma is...
-
123 Anna purchased 100 shares of Delta stock on February 1, Year 2, for $46 per share, and 5 received a two-for-one stock split on December 31, Year 2. Anna sold all the shares of Delta stock on...
-
work i Saved QS 17-10 (Algo) Computing activity rates for activity-based costing LO P3 A company sells two types of products: standard and deluxe. It prepares the following analysis showing budgeted...
-
! Required information [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It...
Study smarter with the SolutionInn App