Question: Here is a term loan financial statement: 1. Please explain the meaning of terms Number of payments in months and Extra payment toward principal. 2.

Here is a term loan financial statement:

Here is a term loan financial statement: 1. Please explain the meaning

1. Please explain the meaning of terms "Number of payments in months" and "Extra payment toward principal".

2. Please create a Loan statement for below story:

We are given a 150,000$ with a term over five years, The interest charged is 5%, Interest-only payments for the first year. Principal repayments are made in equal monthly instalments together with interest, over the remaining four years. No penalty for early repayment. A $15 program fee is charged monthly for the duration of our loan, added to your monthly repayment installment. A $50 fee at the time of disbursement. We are going to pay $6250 + interest every month.

Loan #1 Term Loan Schedule - Loan #1 Ricky's Fly In Fishing May-2022 Jun Loan amount Number of payments in months Interest rate - annualized Interest rate per month Blended loan payment calculation Blended loan payment Loan balance - start of month Interest payment Principal payment Loan balance - end of month Extra payment toward principal 0 0.00% 0.00% $0.00 $0.00 4,200 4,200 Loan #1 Term Loan Schedule - Loan #1 Ricky's Fly In Fishing May-2022 Jun Loan amount Number of payments in months Interest rate - annualized Interest rate per month Blended loan payment calculation Blended loan payment Loan balance - start of month Interest payment Principal payment Loan balance - end of month Extra payment toward principal 0 0.00% 0.00% $0.00 $0.00 4,200 4,200

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 Accounting Questions!

plz show work and formula used thanks B D E F G H 1 2 Loan Payment Calculator 44454 Rate Charles Street Term in Months 1150000 Monthly Payment 230000 Total Interest =(1-Down_Payment/Price)*Price...

PROJECT STEPS Ricardo and Miranda Ramos are considering whether to buy their first home, and have spoken to three lenders about taking out a mortgage for the house purchase. They now pay $1,500 per...

uestion: 1. IN A STOCK ACQUISITION ACCOUNTED FOR BY THE EQUITY METHOD, A PORTION OF THE PURCHASE PRICE OFTEN IS ATTRIBUTABLE TO GOODWILL OR TO SPECIFIC ASSETS OR LIABILITIES. HOW OR UNDER WHAT BASIS...

Hello Ruchi, I hope you have been doing good! I have attached the instructions word document and the excel workbook for part 5. This is the continuation from part 4. Please let me know if you have...

John Benson and Jerry Chen, the owners of J&J Bagel, Inc., have decided that it is time to acquire a bigger store to expand their operations. John and Jerry have identified a suitable structure that...

J&J Bagels Business Financing John Benson and Jerry Chen, the owners of J&J Bagel, Inc., have decided that it is time to acquire a bigger store to expand their operations. John and Jerry have...

Answer the question in excel format. Excel formulas are below. 1. Solve for the unknown variables (identified with a ?) based on the information provided. Maturity / Future Value Interest Amount ? ?...

using photo 2 to answer questions on photo 1 Case Questions Information The responses to the case questions must be typed. You must turn a printed copy by the beginning of class on the day that the...

Case Information: Mary Jones is in the market for a new home. She will need a $300,000 mortgage in order to purchase her dream house. Mary is meeting with a loan officer at her bank to discuss some...

Jeannie, Jasmine, and Jessica Smith, who are sisters, sell their principal residence (owned as tenants in common) in which they have lived for the past 25 years. The youngest of the sisters is age...

Research information on performing quality assurance using lean. How can lean be used on IT projects? How can you use kanban cards, a lean tool, to maximize customer value while minimizing waste?

Calculate the EUAW if you make a $ 8 , 1 2 0 capital expenditure that should make $ 2 , 6 1 5 per year over the next 1 3 years. Your investment's TVOM is 1 0 % .

https://media.cheggcdn.com/media/e59/e5900ba1-02b0-44ab-8246-fb980e24e7c1/phpDkQ6Ux

4. Why is there a trade-off between the amount of consumption that people can enjoy today and the amount of consumption that they can enjoy in the future? Why cant people enjoy more of both? How does...

11. last word How do the Minsky and Austrian explanations for the causes of the Great Recession differ? Explain how the proponents of government stimulus believe that it will affect aggregate demand...

9. Why do many firms strive to maintain stable prices? LO26.5