1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Thepotemich [5.8K]
3 years ago
13

Excel Online Structured Activity: Amortization schedule The data on a loan has been collected in the Microsoft Excel Online file

below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet a. Complete an amortization schedule for a $15,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ $ $ $ $ 2 $ $ $ $ $ 3 $ $ $ $ $ b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places. % Interest % Principal Year 1: % % Year 2: % % Year 3: % %
Business
1 answer:
musickatia [10]3 years ago
7 0

Answer:

a. Ending balance in year 3 = $0

b.

            % Interest      % Principal

Year 1:      28.82%             71.18%

Year 2:     20.28%            79.72%

Year 3:      10.71%             89.29%

Explanation:

a. Complete an amortization schedule for a $15,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent.

Note: See part a of the attached excel file for the calculations.

In the excel function, the yearly payment is calculated by using PMT function in Excel: =PMT(12%,3,-15000,,)

b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places.

Note: See part b of the attached excel file for the calculations.

Download xlsx
You might be interested in
define the following terms 1. artefacts 2. graphics 3. gesture/postures 4. haptics 5. proxemics 6.chronemics 7.facial expression
Tatiana [17]
1. Business artifacts are a mechanism to record this information in units that are concrete, identifiable, self-describing, and indivisible
2. business graphics. Numeric data represented in graphic form. 
3.In humans, one of the means of communication is the posture of the body, in addition to facial expressions, personal distances, gestures and body movements. Posture conveys information about: Interpersonal relations. Personality traits
4. Haptics is any form of interaction involving touch. 
5. Proxemics is the study of human use of space and the effects that population density has on behaviour, communication, and social interaction. 
6. Chronemics is the study of the role of time in communication.
7. A facial expression is one or more motions or positions of the muscles beneath the skin of the face.
8. Oculesics, a subcategory of kinesics, is the study of eye movement, eye behavior, gaze, and eye-related nonverbal communication. 
9.Vocalics is the study of paralanguage, which includes the vocal qualities that go along with verbal messages, such as pitch, volume, rate, vocal quality, and verbal fillers.
10. Paralanguage is a component of meta-communication that may modify meaning, give nuanced meaning, or convey emotion, such as prosody, pitch, volume, intonation, etc. 
4 0
4 years ago
Which of the following are true if you pay only the minimum amount each month towards your credit card bill?
Ira Lisetskai [31]
The answer is would be d because all credit cards have an interest rate and that will keep going up if you only pay a little bit at a time
5 0
3 years ago
Read 2 more answers
Brainliest Answer!! What Type of competitive situation is this?
Ann [662]

A. Pure competition

Pure competition describes a market with a wide range of competing businesses all selling the same product, in this case milk.

Monopolies are a single company running the market, and oligopoly markets have a small number of players who together control the vast majority.

5 0
4 years ago
Money is the most important aspect of a job because?
dlinn [17]

It allows a fair exchange between labor and being rewarded. Which is also very ethical.

5 0
4 years ago
Read 2 more answers
Why should project managers always make a plan (phase two) before executing and completing tasks (phase three)
Marat540 [252]

Project managers always make a plan before executing and completing tasks because the creation of budget and setting a schedule is important for the project.

<h3>What is a project?</h3>

It should be noted that a project is an activity that's engaged in to achieve a particular goal.

In this case, project managers always make a plan before executing and completing tasks because the creation of budget and setting a schedule is important for the project.

Learn more about projects on:

brainly.com/question/6500846

#SPJ1

5 0
2 years ago
Other questions:
  • Mosaic Tile Company has estimated the following amounts for its next fiscal​ year: Total fixed costs ​ $832,000 Sales price per
    15·1 answer
  • Products that have no brand other than the identification of their contents are called A. generic products. B. dealer brands. C.
    12·1 answer
  • Which type of triangle is best for construction?
    9·1 answer
  • Jeevan and Jayaram started a partnership business. Jayaram is a filmstar. He has no time to be involved in business activity. Je
    9·1 answer
  • 4. Which of the following is a risk of large-scale government borrowing?
    9·1 answer
  • Levin Furniture buys a living room set with a $4,000 list price and a 55% trade discount. Freight (FOB shipping point) of $50 is
    5·1 answer
  • Assume the following for the town of Boone: it has a total population of 40,000 people, of which 1,000 are under 16 years of age
    10·1 answer
  • Explain which of the 5 Management Functions is your strength and weakness? Planning, Organizing, Staffing, Implementing, and Org
    5·1 answer
  • Assume that three identical units of merchandise are purchased during October, as follows: Units Cost October 5 Purchase 1 $ 5 1
    5·1 answer
  • In their ________ roles, managers interact with people inside their work units; while solving problems is part of their ________
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!