hello asked:


for example for a 400000 loan amount for 10 years for 5 percent interest rate .please help

strbst asked:


It says to use a graphing calculator but i cant figure it out:

Use the formula for the present value of an ordinary annuity or the amortization formula to solve the following problem.

PV=$12000; PMT=$400,n=55, i=?

goodfella_4 asked:


On January 1, 2003, Staton Company paid $160,000 to obtain a patent. Staton expected to use the patent for 5 years before it became technologically obsolete. Based on this information, the amount of amortization expense on the December 31, 2005 income statement and the book value of the patent on the December 31, 2005 balance sheet would be:

a. $32,000 / $96,000.

b. $32,000 / $54,000.

c. $54,000 / $96,000.

d. $54,000 / $54,000.

Joe asked:


I understand loan amortization for the most part. I understand you are figuring out a schedule of equal payments over a period time, and how often the interest is compounded, along with the given iterest and principal of the loan.

My question is, Why does the amount of interest decrease over time as the principal falls.

I know the payments add up to the total amount of the principal plus all the interest compounded, so why isn’t the interest equally split. My book doesn’t say why. they just say that it happens.

Thanks

probably not something i need to know, but it’s important

Juice asked:


Which of the following items are listed in the header of an amortization table?

True False – amortization payment
True False – interest
True False – principal at end of period
True False – present value
True False – payment number
True False – payment applied to principal
True False – lump sum payment
True False – number of compounding periods
True False – nominal interest rate

thanks
i tried the whole google search… but it;s useless… the wordings are really different =(

Carl G asked:


Where can I find a amortization chart, or a formula for my calculator to take to the dealership if I have to use their financing (I have a 5 year old bankruptcy)

They will rip you when they start asking what you want your monthly payment to be – for me it is the interest rate and amount of time for the loan. I need to be able to calculate this stuff based on interest rates they will give me – there at the dealership. so I wont have my computer to do calculations automatically.

Terri asked:


The Centennial Chemical Corporation announced that for the period ending March 31, 2008, it had earned income after taxes worth $5,330,275 on revenues of $13,144,680. The company’s costs (excluding depreciation and amortization) amounted to 61 percent of sales, and it had interest expenses of $392,168. What is the firm’s depreciation and amortization expense if its tax rate is 34 percent?

Ubernoob asked:


A sofa that was no longer in use was sold to a used car company. $9,900.00 was the original value of the asset. No cash changed hands. 34% is the rate of amortization for this asset class. $2,475.00 of the asset’s original value was amortized. $4,009.50 of the book value was the price paid for the asset.

Angel L asked:


what’s the amortization method used by Danier Leather Inc. Need easy, simple answer. Thanks a lot O(?_?)O~

First asked:


Four years ago, the creditor was not able to continue her monthly amortization that’s why the property was foreclosed.