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| You are evaluating the lease of a photocopier which has a purchase price of $38,415.00 with all charges including installation, maintenance and taxes included. The leasing rate is stated to be 7.5% compounded monthly for the 7 year lease. At the end of the lease the residual value of the photocopier is $2300.00. If you provide a financing down payment of $3000, what will be the lease payments? |
| Construct a full amortization schedule for the following scenario. The schedule should include: Payment number, payment amount, Interest Portion, Principal portion, and Principal Balance.
Dejardines Financial has provided a $53,217 loan to Your Finished Inc. that earns interest at a rate of 6.5% compounded monthly. The loan is to be paid back in equal payments at the end of each month over a three-year term. In addition to the amortization schedule, how much interest was paid over the life of the loan? |
| Construct a full amortization schedule for the following scenario. The schedule should include: Payment number, payment amount, Interest Portion, Principal portion, and Principal Balance.
Summer Break Inc. obtained a $600,000 loan for a new building valued as $1,100,000. The loan contract requires payments at the end of each quarter including interest compounded at 9% compounded semi-annually. The loan is to be repaid by equal quarterly payments over a ten year term. In addition to the amortization schedule, how much interest was paid over the life of the loan? |
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