A young couple buying their first home borrow $\$ 85,000$ for $30$ years at $7.2 \%$ compounded monthly and make payments of $\$ 576.97$. After $3$ years, they are able to make a one-time payment of $\$ 2000$ along with their $36$th payment.

(a) Find the unpaid balance immediately after they pay the extra $\$ 2000$ and their $36$th payment.

(b) How many regular payments of $\$ 576.97$ will amortize the unpaid balance from part (a)? Give the answer to one decimal point.

( c ) How much will the remaining debt be after the number of full payment periods in (b) is made? How much extra must be included with last full payment to pay off the debt?

(d) How much will the couple pay over the life of the loan by paying the extra $\$ 2000$?

Krugg Company determines on May 1 that it cannot collect $1,000 of its accounts receivable from its customer P. Carroll. Use the direct write-off method to record this loss as of May 1.

Find the current balance for the account.

Daw Company's December 31 year-end unadjusted trial balance shows a $10,000 balance in Notes Receivable. This balance is from one 6% note dated December 1, with a period of 45 days. Prepare any necessary journal entries for December 31 and for the note's maturity date assuming it is honored.

You have borrowed $\$ 20,000$ at an interest rate of $12 \%$ compounded annually. Equal payments will be made over a three-year period, with each payment made at the end of the corresponding year. What is the amount of the annual payment? What is the interest payment for the second year?

Refer to the information in the previous question and prepare the journal entry assuming the note is honored by the customer on October 31, 2011.

On August 2, 2011, JLK Co. receives a $5,500, 90-day, 12% note from customer Tom Menke as payment on his$9,000 account. (1) Calculate the maturity date for this note. (2) Prepare JLK’s journal entry for August 2.

A woman buys a car for $\$ 40,000$. If the interest rate on the loan is $12 \%$ compounded monthly and she wants to make monthly payments of $\$ 700$ for $3$ years, how much must she have for a down payment?

A builder is offering 100,000 dollars loans for his properties at 9 percent for 25 years. Monthly payments are based on current market rates of 9.5 percent and are to be fully amortized over 25 years. The property would normally sell for 110,000 dollars without any special financing.

At what price should the builder sell the properties to earn, in effect, the market rate of interest on the loan? Assume that the buyer would have the loan for the entire term of 25 years.

A builder is offering 100,000 dollars loans for his properties at 9 percent for 25 years. Monthly payments are based on current market rates of 9.5 percent and are to be fully amortized over 25 years. The property would normally sell for 110,000 dollars without any special financing.

At what price should the builder sell the properties to earn, in effect, the market rate of interest on the loan? Assume that the buyer would have the loan for the entire term of 25 years.

How would your answer change if the property is resold after 10 years and the loan repaid?

A baseball is hit from a height of 2.5 feet above the ground with an initial velocity of 140 feet per second and at an angle of 22° above the horizontal. Find the maximum height reached by the baseball. Determine whether it will clear a 10-foot-high fence located 375 feet from home plate. Use the model for projectile motion, assuming there is no air resistance.

When a cold drink is taken from a refrigerator, its temperature is 5 degree C. After 25 minutes in a 20 degree C room its temperature has increased to 10 degree C. What is the temperature of the drink after 50 minutes?

A baseball team plays in a stadium that holds 55,000 spectators. With ticket prices at $10, the average attendance had been 27,000. When ticket prices were lowered to$8, the average attendance rose to 33,000. Find the demand function, assuming that it is linear.

Find the centroid of the region. Quarter of the unit circle lying in the first quadrant