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
Scorpion4ik [409]
4 years ago
9

You currently have a​ one-year-old loan outstanding on your car. You make monthly payments of $ 500. You have just made a paymen

t. The loan has four years to go​ (i.e., it had an original term of five​ years). Show the timeline from your perspective. How would the timeline differ if you created it from the​ bank's perspective?
Business
1 answer:
LenKa [72]4 years ago
8 0

Answer:

Since there is not enough room here, I prepared an amortization schedule on an excel spreadsheet. The amortization schedule starts on year 1 (red color) and ends on year 5.

I also assumed a $23,500 initial loan (principal) and a 10% annual rate. I did this just to show how much principal is reduced every month and how much interest is paid. Your liability (loan's principal) decreases month by month.

If you are a bank, instead of interest expense, you would consider this an interest payment, and as the principal decreases, your asset (loan) decreases.

Download pdf
You might be interested in
What type of economy does sri lanka have?
xeze [42]
Sri Lanka's economy has expanded at an average rate of about 6 percent over the last 5 years. The country has made a notable economic transition from fragility to relative stability. Political reconciliation and economic transformation have been strengthened by measures that support long-term development and competitiveness.
6 0
3 years ago
Hank is a U.S. citizen and is doing a three to six-year assignment as a sales executive in Paris for a French company, which beg
Maurinko [17]

Answer:

The answer is: E) None of his salary can be excluded from gross income because Hank must reside overseas for the entire year

Explanation:

According to the IRS's Foreign Earned Income Exclusion (and Requirements) a US citizen can claim up to $105,900 (in 2019) of his gross income to be excluded from gross income in the US only if that person resided in the foreign country for at least 330 days in the last year.

3 0
4 years ago
Why is it easier paying your bills using the online bill pay feature with your checking account?
nataly862011 [7]

Answer:

Online bill pay helps you organize bills and keep track of due dates. It also makes it easier to see where your money is going, so you can make sure you have enough funds available to cover each payment. You receive and pay your bills all through your bank  — one list, in one place.

Explanation:

6 0
3 years ago
Read 2 more answers
Using the table below, answer questions 1_3<br><img src="https://tex.z-dn.net/?f=1%20-%203" id="TexFormula1" title="1 - 3" alt="
Varvara68 [4.7K]
I dunno but other websites have he answer to that, b ye now have fun!! And I’m not being mean btw just saying I’m leaning that too and it’s pretty hard
3 0
3 years ago
As a manager, what type of skill would you need to use if you had to decide if falling sales were a result of a faulty product o
hichkok12 [17]

Inspire employees and clarify their vision. Find new and innovative ways to produce and deliver goods and services.

The main function of front-line managers is to oversee departments and employees. According to Lumen Learning, they are responsible for ensuring that the team achieves the goals of the organization.

Conceptual skill. These skills represent the manager's ability to organize and analyze information to improve the performance of the organization. This includes the ability to see the entire organization and understand how the different parts combine to act as an integrated unit.

Human skills are the ability to understand, change, guide, and control the behavior of other individuals and groups, and the ability to communicate, coordinate and motivate people in a cohesive team.

Learn more about the marketing plan at

brainly.com/question/25640993

#SPJ4

7 0
2 years ago
Other questions:
  • Which statement describes direct materials in a manufacturing setting?A) Direct materials are used to determine total manufactur
    7·1 answer
  • Read the following stock quote. Did the stock price increase or decrease?
    6·2 answers
  • Peachtree Company borrows $30,000 from the local bank at 7% interest. The term of the note is five years, and the annual payment
    11·1 answer
  • This partnership was approached by a corporation that would like to acquire them by a stock acquisition. The partnership has no
    14·1 answer
  • When people cannot buy all of a good they demand at the going price, there is a:?
    14·1 answer
  • Answer of question no 2​
    8·1 answer
  • A computer manufacturer sells laptops to retail stores for $450 each. If the manufacturer pays $200 for all of the components in
    8·2 answers
  • Suggest reasons why a knowledge sharing system
    10·1 answer
  • Suppose that 57% of all people with credit records improve their credit rating within three years. Suppose that 22% of the popul
    5·1 answer
  • In 2009, an agricultural company introduced a new cropping process which reduced the cost of growing some of its crops. If sales
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!