Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a loan of r1 000 000,00 is granted for three years

A loan of R1 000 000,00 is granted for three years at a compound interest...

90.2K

Verified Solution

Question

Accounting

image

A loan of R1 000 000,00 is granted for three years at a compound interest rate of 8,25% per annum compounded monthly. An extract from the amortization table is shown. Payment Opening Payment number Balance 9 798 588,76 31 451,82 10 B 31 451,82 11 746 487,22 31 451,82 12 720 167,50 31 451,82 13 693 666,83 31 451,82 Determine the values of C and D in the table above. O A. C5 132,10 D= 666 983,96 O B. C 5 041,63 D = 666 983,96 O C. C 5 041,63 D = 662 215,00 O D. C5 132,10 D= 662 215,00 Principal A 26 140,01 26 319,72 26 500,67 26 682,86 Interest 5 490,30 5 311,81 C 4 951,15 4 768,96 Outstanding Balance 772 627,23 746 487,22 720 167,50 693 666,83 D

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Respond to the following in a minimum of 175 words, please type response: The standard error of...

Basic Math
Q

BSBWOR502 - LEAD AND MANAGE TEAM EFFECTIVENESS 2 Did you have the recommended mix of roles—ie...

General Management
Q

Forty-eight (48) months ago, James Alfred Charles purchased a $2,750,000 house in Buckhead with no money...

Finance
Q

According to the following table which of these factors affects your cred score the least...

Geometry
Q

The concentration C of a drug in a patient's bloodstream t hours after injection (for...

Basic Math
Q

Hardin Fabrications is preparing its cash budget for the third quarter. Cash...

Accounting
Q

Lean Accounting Vintage Audio Inc, manufactures audio speakers. Each speaker requires $100 per unit of...

Accounting
Q

investment of $110,000. This investment would earn $13,200 for the company. Read the requirements. Requirement...

Accounting
Q

Silven Industries, which manufactures and sells a highly successful line of summer lotions and insect...

Accounting
Q

According to IAS 37, the appropriate accounting treatment for future operating losses is to: Select...

Accounting
Q

oft touch company was sta + haps ewcornect Problems (Static) Check my work mode: This...

Accounting
Q

13. List and explain the four components of GDP. Which one is most important? and...

Accounting