Question: Dinoco borrowed $9500 paying interest at 7.5% compounded annually. If the loan is repaid by payments of $4000 made at the end of every year,

Dinoco borrowed $9500 paying interest at 7.5% compounded annually. If the loan is repaid by payments of $4000 made at the end of every year, calculate the interest paid in the last payment interval.

Select one:

$200.88

$34.75

$9.96

$1120.68

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Question Not yet answered Dinoco borrowed $8499 paying interest at 11% compounded monthly. If the loan is repaid by payments of $1000 made at the end of every month alculate the balance outstanding...

Dinoco borrowed $8499 paying interest at 11% compounded monthly. If the loan is repaid by payments of $1000 made at the end of every month, calculate the balance outstanding after 6 months. Select...

A company borrowed $16,000 paying interest at 4% compounded annually. If the loan is repaid by payments of $1800 made at the end of each year, construct a partial amortization schedule showing the...

A company borrowed $16,000 paying interest at 10% compounded annually. If the loan is repaid by payments of $2200 made at the end of each year, construct a partial amortization schedule showing the...

A company borrowed $15,000 paying interest at 8% compounded annually. If the loan is repaid by payments of $2500 made at the end of each year, construct a partial amortization schedule showing the...

cant find the answer the last question..? This Question: 1 pt 3 of 7 This Test: 7 pts possible A company borrowed $12,000 paying interest at 9% compounded annually. If the loan is repaid by payments...

A company borrowed $15,000 paying interest at 10% compounded annually. If the loan is repaid by payments of $1800 made at the end of each year, construct a partial amortization schedule showing the...

A company borrowed $16,000 paying interest at 7% compounded annually. If the loan is repaid by payments of $1700 made at the end of each year, construct a partial amortization schedule showing the...

A company borrowed $16,000 paying interest at 9% compounded annually. If the loan is repaid by payments of $ 1800 made at the end of each year, construct a partial amortization schedule showing the...

Question Help # A company borrowed 516,000 paying interest at 7% compounded annually. If the loan is repaid by payments of $2300 made at the end of each year, construct a partial amortization...

Below, please find financial statement information on three not-for-profit clinics. Fill in the missing. values. Hint: Assets= Liabilities + Equity. Equity2022= Equity 2021 + Net income 2022....

A hollow circular tube having an inside diameter of 10.0 in. and a wall thickness of 1.0 in. (see figure) is subjected to a torque T = 1200 k-in. Determine the maximum shear stress in the tube using...

14. In Exhibit 6, to move from U to B, the opportunity cost a. would be 4 units of consumption goods. b. would be 2 units of capital goods. c. would be zero. d. would be 5 units of capital goods. e....

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

identify the behaviour and results which are needed and define the rules which govern how individuals and groups behave;

be understood and accepted by employees as consistent with their values and priorities and be regarded as equitable and competitive.

provide rewards which are equitable, competitive, timely and in an appropriate form;