Sheridan Company receives a $79,300, 9-year note bearing interest of 10% (paid annually) from a customer at a time when...
Sheridan Company receives a $79,300, 9-year note bearing
interest of 10% (paid annually) from a customer at a time when the
discount rate is 11%.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
What is the present value of the note received by Sheridan?
(Round answer to 2 decimal places, e.g.
25.25.)
| Present value of note received |
$enter the present value of the note rounded to 2 decimal places |
Homework Answers
Answer------------$74,908.76
Working
| Year | payments | PV Factor @11% | Present value |
| 1-9… | $ 7,930.00 | 5.53705 | $ 43,908.81 |
| 9 | $ 79,300.00 | 0.39092 | $ 30,999.96 |
| Present value of Notes receivable | $ 74,908.76 | ||
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Sheridan Company is about to issue $258,000 of 10-year bonds
paying an 9% interest rate, with interest payable semiannually. The
discount rate for such securities is 8%.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
How much can Sheridan expect to receive for the sale of these
bonds? (Round answer to 0 decimal places, e.g.
2,575.)
Sheridan can expect to
receive
$
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Brief Exercise G-15 Neymar Taco Company receives a $65,000, 4-year note bearing interest of 11% (paid annually) from a customer at a time when the discount rate is 7% Click here to view the factor table (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the present value of the note received by Neymar? (Round answer to 2 decimal places, e.g. 25.52.) Present value of note received LINK TO TEXT By accessing this...
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Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
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bonds? (Round answer to 0 decimal places, e.g.
2,575.)
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