1. Gabrielle's student loan of $27,000 at 4.12% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 3 years?
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- 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. Prepare an amortization table showing the principal and interest in each payment.Heather's student loan of $25,000 at 2.82% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? $0.00 Round to the nearest centNicole's student loan of $26,000 at 4.62% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 3 years?
- 6. Donald received a loan of $22,000 at 3.25% compounded monthly. She had to make payments at the end of every month for a period of 7 years to settle the loan. a. Calculate the size of payments. b. Complete the partial amortization schedule, rounding the answers to the nearest cent. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 $22,000.00 1 2 : : : : : : : : : : : : : : : : 0.00 TotalZachary's student loan of $28,000 at 4.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 1 year? Round to the nearest centAnna received a loan of $29,000 at 4.5% compounded semi-annually. He had to make payments at the end of every half-year for a period of 6 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number 0 Payment Interest Portion Principal Portion Principal Balance $29,000.00
- Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 2 years? $0.00 Question 1 of 6 Round to the nearest centLeah received a loan of $35,000 at 3,5% compounded quarterly. She had to make payments at the end of every quarter for a period of 7 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number Payment Interest Portion Principal Portion Principal Balance $35.000.00Cameron's student loan of $28,000 at 3.72% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? Round to the nearest cent
- Matthew received a loan of $31,000 at 4.75% compounded quarterly. She had to make payments at the end of every quarter for a period of 7 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. 0.00 Payment Number 0 1 2 Payment $0.00 $0.00 Interest Portion $0.00 $0.00 Principal Portion $0.00 $0.00 Principal Balance $31,000.00 $0.00 $0.00Jesse received a loan of $36,000 at 5.75% coumpounded quarterly. She had to make payments at the end of every quarter for a period of 5 years to settle the loan. a. Calculate the size of payments Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places Payment Number Payment Interest Portions Principal Portion Principal Balance3. Ruby Red borrowed $7500 for the diner at 8.1% compounded monthly. She agreed to repay the loan in equal monthly payments over four years. 1. What is the size of the monthly payment? 2. How much of the 15th payment is interest? 3. What is the principal repaid in the 36th payment period? 4. Prepare a partial amortization schedule.