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- An account paying annual compound interest was opened with OMR2,000 10 years ago. Today, the account balance is OMR3,500. If the same interest rate is offered on an account paying simple interest, how much income would be earned each year over the same time period? Select one: O a. OMR150.0o O b.OMR 92.60 O COMR115.20 O d. OMR 80.40 O e. OMR 56.90Your company is planning to borrow $1 million on a 5-year, 11%, annual payment, fully amortized term loan. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places. %Find the simple interest of the given loan amount. (Round your answers to the nearest cent.) (a) $5,662 borrowed at 11 3/4 % from July 1 to December 31 of the same year I = $ (b) $5,662 borrowed at 11 3/4% from July 1 through December 31 of the same year I = $
- A company borrowed $150,000 from a local bank. The loan requires 20 equal annual payments beginning one year from today. Assume an interest rate of 6%. What is the amount of each annual payment? Note: Use tables, Excel, or a financial calculator. Round your final answer to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Table, Excel, or calculator function: Loan Amount: Loan Payment: n=A company borrowed $150,000 from a local bank. The loan requires 20 equal annual payments beginning one year from today. Assume an interest rate of 6%. What is the amount of each annual payment? Note: Use tables, Excel, or a financial calculator. Round your final answer to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Table, Excel, or calculator function: Loan Amount: Loan Payment: n= eYou have taken a loan of $78,000.00 for 20 years at 4.9% compounded quarterly. Fill in the table below, rounding all values to the nearest cent. Note that the principal column is listed before the interest column even though the interest calculation is done first. Many lending institutions use this order in the amortization schedules they provide to their customers. Payment number Payment amount Principal Amount Interest 0) 1) 2) 3) $ S $ $ s Balance $78,000.00 $
- Kingsley Toyota borrowed $175,000 from a local bank. The loan requires Kingsley to pay 15 equal annual installments beginning one year from today. Assume an interest rate of 7%. What is the amount of each annual installment payment? (FV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Round your final answers to nearest whole dollar amount.) Table or calculator function: Loan Amount: Loan Payment: n= F= PVA of $1 S 175,000 15 7% IIAutomotive Excellence Inc. borrowed $18,000.00 on june 21 with an interest rate of 8.9% per annum. On july5, $6000.00 was repaid, and on august 10, $5000.00 was repaid. Automotive Excellence paid the balance of the loan on October 11. What was the final payment? The final payment was $ (Round the final answer to the nearest cent as needed.The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses?Select one:a. OMR 12,400b. OMR 1,500,000c. OMR 31,000d. None of the other points
- ABC Company acquired a loan from New Kensington Bank in the amount of $120,000 with a 8% interest rate. The loan will be repaid in exactly one year. A stipulation of the loan requires ABC Company to keep a compensating balance of $25,000 in a New Kensington Bank checking account. What is the effective interest rate that ABC Company will pay? Please round to the second decimal place. 10.11% 9.67% 8.00% 6.62%A Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 beginning one year from today. The interest rate on the note is 7%. What amount did the company borrow? Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)On January 1, a company agrees to pay $13,000 in six years. If the annual interest rate is 2%, determine how much cash the company. can borrow with this agreement. (PV of $1. EV of $1. PVA of $1, and EVA of $1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Future Value Table Factor Amount Borrowed