Homework Answers
|
Monthly payment |
Table factor |
Present value of Loan |
||
|
530 |
* |
18.0456 |
= |
9564 |
|
Table Value are based on |
|
|
n |
20 |
|
I= (12%/12 month) |
1% |
|
Present value of Loan |
Cash payment |
Cost of the Automobile |
||
|
9564 |
+ |
7200 |
= |
16764 |
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Dave Krug finances a new automobile by paying $7,200 cash and agreeing to make 20 monthly...
Dave Krug finances a new automobile by paying $7,000 cash and agreeing to make 20 monthly...
Dave Krug finances a new automobile by paying $7,000 cash and
agreeing to make 20 monthly payments of $550 each, the first
payment to be made one month after the purchase. The loan bears
interest at an annual rate of 12%. What is the cost of the
automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use
appropriate factor(s) from the tables provided. Round "Table
Factor" to 4 decimal places.)
Exercise B-9 Present value of...
Dave Krug finances a new automobile by paying $5,500 cash and agreeing to make 20 monthly...
Dave Krug finances a new automobile by paying $5,500 cash and agreeing to make 20 monthly payments of $490 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) Monthly Payment Table Factor Present Value of Loan = Table Values are Based on: n = i = Present...
Dave Krug finances a new automobile by paying $6,100 cash and agreeing to make 30 monthly...
Dave Krug finances a new automobile by paying $6,100 cash and agreeing to make 30 monthly payments of $550 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1. FV of $1, PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Factor Present...
Dave Krug finances a new automobile by paying $6,700 cash and agreeing to make 20 monthly...
Dave Krug finances a new automobile by paying $6,700 cash and agreeing to make 20 monthly payments of $410 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)
TVM Assignment Dave Krug finances a new automobile by paying $7,000 cash and agreeing to make...
TVM Assignment Dave Krug finances a new automobile by paying $7,000 cash and agreeing to make 30 monthly payments of $510 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of S1, and FVA of $ 1) (Use appropriate factor(e) from the tables provided. Round Table Factor to 4 decimal places.) points Skipped...
Can someone help me with this accounting question? I'm not sure how to approach it. Dave...
Can someone help me with this accounting question? I'm not sure
how to approach it.
Dave Krug finances a new automobile by paying $5,700 cash and agreeing to make 10 monthly payments of $580 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from...
Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay...
Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: Multiple Choice $100,000. $110,000. Oo oo $71,446. $38,550.
ZIL 14. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing...
ZIL 14. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1; PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: a. $100,000. Pie b. $38,550. . C. $110,000. d. $71,446.
Don James purchased a new automobile for $28,000. Don made a cash down payment of $7,000...
Don James purchased a new automobile for $28,000. Don made a cash down payment of $7,000 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Do...
Don James purchased a new automobile for $20,000. Don made a cash down payment of $5,000...
Don James purchased a new automobile for $20,000. Don made a cash down payment of $5,000 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Round...
Dave Krug finances a new automobile by paying $7,000 cash and
agreeing to make 20 monthly payments of $550 each, the first
payment to be made one month after the purchase. The loan bears
interest at an annual rate of 12%. What is the cost of the
automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use
appropriate factor(s) from the tables provided. Round "Table
Factor" to 4 decimal places.)
Exercise B-9 Present value of...
Dave Krug finances a new automobile by paying $6,100 cash and agreeing to make 30 monthly payments of $550 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1. FV of $1, PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Factor Present...
TVM Assignment Dave Krug finances a new automobile by paying $7,000 cash and agreeing to make 30 monthly payments of $510 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of S1, and FVA of $ 1) (Use appropriate factor(e) from the tables provided. Round Table Factor to 4 decimal places.) points Skipped...
Can someone help me with this accounting question? I'm not sure
how to approach it.
Dave Krug finances a new automobile by paying $5,700 cash and agreeing to make 10 monthly payments of $580 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from...
Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: Multiple Choice $100,000. $110,000. Oo oo $71,446. $38,550.
ZIL 14. Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 10%. (FV of $1; PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) The land reported on the balance sheet is closest to: a. $100,000. Pie b. $38,550. . C. $110,000. d. $71,446.
Don James purchased a new automobile for $28,000. Don made a cash down payment of $7,000 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Do...
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