Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate
Question:
Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year....
-
Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record? a). Debit Cash, $8,000; Credit Notes Receivable, $8,000. b). Debit Notes Receivable,...
-
Magda borrowed $15,000 from the bank and signed a three-year, 6% instalment note payable with fixed principal payments. She wants to know how to calculate what the annual fixed principal payment will...
-
Based on the illustration of an iPhone shown below, draw a system model for an iPhone. iPhone Components Flash memory. CPU Main circuit boards Communications GSM cell, WiFi, EDGE Battery Display...
-
Angel Macias is considering selling his business (organized as Theta Corporation), which has the following assets and liabilities: Thetas balance sheet also shows $200,000 of accounts payable and...
-
Fill in the blank with an appropriate word, phrase, or symbol(s). A test that is used to determine whether a graph represents a function is called the ________ line test.
-
How can management control against paychecks being prepared for unauthorized or fictitious employees?
-
Parker Company manufactures and sells a single product. A partially completed schedule of the companys total and per unit costs over a relevant range of 60,000 to 100,000 units produced and sold each...
-
A ball is launched horizontally at t = 0 s from a height of 10D above the ground. (The squares in the grid in the picture measure D x D.) After launch, the ball is acted upon only by gravity (until...
-
There is a parcel of land next to the Playful Paws, Inc. building. Ellen, the owner of this property, approached John to discuss the idea of selling it to him. John is interested. Ellen knows that...
-
Charleston Inc. issued $200,000 bonds with a stated rate of 10%. The bonds had a 10-year maturity date. Interest is to be paid semi-annually and the market rate of interest is 8%. If the bonds sold...
-
What is the difference between callable and putable bonds?
-
Groupon, an online Web site, offers its subscribers at least one special deal per day to local businesses in their cities such as places to eat, health-related activities (spas or fitness centers),...
-
You has just borrowed $5,000 on a four year loan at 8% simple amortized interest . Complete the Amortization table below for the first 6 month of the loan. USING A LOAN AMORTIZATION TABLE . Payment...
-
Now go to the 'PQR with MC simulation' tab. In it you will find a fully functioning MC simulation model for PQR Corp. (NOTE: If you open this workbook without first opening @RISK you'll see a lot of...
-
Review the scenario below. Then complete the step-by-step instructions. Now that Peta has clarified and updated the project goals, she checks in with Deanna, Carter, Gilly, and Alex to discuss their...
-
The table below (on the next page) lists data on the indexes of aggregate final energy demand (Y), real GDP (X), and real energy price (X) for several developed countries. Estimate a log-liner model...
-
Asset 4 has E[R4] = 7.4% and SD = 21% meaning it is at least as risky as the other risky assets and has a lower expected return than any of the other risky assets. In other words, it appears to be a...
-
Show that the subspace of skew-symmetric n n matrices forms a complementary subspace to the space of symmetric n n matrices. Explain why this implies that every square matrix can be uniquely...
-
The baseball player A hits the ball from a height of 3.36 ft with an initial velocity of 34.8 ft/s. 0.14 seconds after the ball is hit, player B who is standing 15 ft away from home plate begins to...
-
Using the following returns, calculate the average returns, the variances, and the standard deviations for X and Y. RETURNS YEAR 23% 34% 2 12 3 14 17 4 -16 -23 19 17
-
Youve observed the following returns on Yasmin Corporations stock over the past five years: 19 percent, 13 percent, 7 percent, 25 percent, and 16 percent. a. What was the arithmetic average return on...
-
Rework problems 1 and 2 assuming the ending share price is $72. Required Data Suppose a stock had an initial price of $84 per share, paid a dividend of $1.65 per share during the year, and had an...
-
2. (10 points) Describe in a few words what the algorithm Foo does and what the algorithm Bar does. Analyze the worst-case running time of each algorithm and express it using "Big-Oh" notation....
-
Let x(t) = u(t+2)-u(t-1) where u(t) = < [1, t>0 0,t <0 (unit step signal) and h(t)=e'u(-t+1). a) Sketch x(t) and h(t). Label all your axes. b) Calculate the convolution y(t) = x(t)* h(t). Simplify...
-
What is printed by the following Java statement: System.out.println(what01(4, 7)); The method is defined as: private static int what01(int n, int k { } int v = 0; for (int j = 0; j < n; j++) { v=v 10...
Study smarter with the SolutionInn App