Question

Don James purchased a new automobile for $12.000. Don made a cash down payment of $3.000 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. EY OLS. PV.O.S. EVA OLS. EVA LSI, EVAD S1 and PVAD OLSD) (Use appropriate factors from the tables provided) Required: Calculate the amount of the required monthly payment. (Round your final answers to nearest whole dollar amount Monthly payment Lorone company is facing v factors from the tables provided) os regarongesting thing s each d epender d e n o t 1. ono 2018. The Journe Company purchased eg on Genovese Cor e agreed to pay Genovese 18.000 on the purchase and can begning 2018 Asing that an interest rate of 10 property the time of money in on what amou r 2. Johnstone necos to shortlunds to pay a $430,000 tome due on December 31, 2003. The company m tinds by m e compounded annually. Determine the round anual depos i t posts made on December 31, 2018 3. on January 1, 2018, Johnstoneleased an office building. Terms of the lease require Johnstone to make 20 a llease payments of $128.000 begonary, 2011 Al agreement. Al what amount should go ne cord tha t on January 1, 2018, before lease payments are made? p in e Complete this question by entering your answers in the tabs below. Required 1 Bouired 2 Required 3 C J 0, 2018, the Johnstone Company purchased equipment from Genovere Corp Johnstone agreed to pay $13,000 on the purchase date and the balance in s u aliniments of 36,000 on each nebennig 10, 2018 Assuming that an interest rate of 10% properly reflects the time value of money in this bation, what amount thoud Johnstone value the equipment (Round your lo o nest whole farmant Table values are based on Cash Flow Amount Present Value Complete this question by entering your answers in the tabs below.

Answer 1

Requirement 1

N= 6

i = 10%

Amount PV

Installation - $36000 - $28740

Down payment- $18000-$18000

Requirement 2

FV =P{ ( 1+r)ⁿ​​​​​​^{​​​​​​}​​​​​​ - 1}/r

Future value is $480000

N= 5

i = 5%

Annual deposit= $86867

Requirement 3

Annual lease- $128000

n= 20

i = 10%

Pv = $1198080