1. Sunland, Inc. owes $37,310 to Cxiitter Company. How much would Sunland have to pay each...
Sunland, Inc. owes $37,310 to Criitter Company. How much would Sunland have to pay each year if the debt is retired through four equal payments (made at the end of the year), given an interest rate on the debt of 9%? Amount paid each year Answer . (round to whole dollars) You are interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $26,000 cash or $6,500 at the end of each of...
2. You are interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $26,000 cash or $6,500 at the end of each of 5 years. Compute the effective-interest rate to the nearest percent that you will pay if you choose to make the five annual payments. (Round answer to 0 decimal places, e.g. 79%) Interest Rate Answe 3. Mickey Michen will invest $6,420 a year for 24 years in a fund that will...
Question 18 Recently, Julia Estes was interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $25,000 cash or $6,300 at the end of each of 5 years. Compute the effective-interest rate to the nearest percent that Julia would pay if she chooses to make the five annual payments. (Round answer to 0 decimal places, e.g. 7%.) Interest rate %??
Recently, Candice Estes was interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $28,900 cash or $7,400 at the end of each of 5 years. Compute the effective-interest rate to the nearest percent that Candice would pay if she chooses to make the five annual payments. (Round answer to o decimal places, eg. 7%.) Click view factor tables Interest rate 8
4. Mr. Jones is in debt. He owes Mr. James an amount of $235,000. To repay this debt he is to pay an amount of X for the next 7 years and an amount of 2X for the following 15 years. All payments are made at the end of the year. The annual interest rate is 12%. Calculate X.
Exercise 3 if you invest $4000 each year for 40% years, how much will you have at the end of 40 years assuming a 9% annual return? Exercise 4 if you want to withdraw $35000 each year for 30 years, how much would you need to have saved today to fund these withdrawals? (Assume 7% annual return) Exercise 5 if you purchase a machine and borrow $30000, what will your approximate monthly payment be if you pay back the loan...
(20 points) You borrow $3000 for four years at an annual effective interest rate of i. The investor pays interest only on the loan at the end of each year and accumulates the amount necessary to repay the principal at the end of four years by making level payments at the end of each year into a sinking fund (an account used to accumulate money needed to pay back a debt). The sinking fund earns an annual effective interest rate...
Wiseman Video plans to make four annual deposits of $6,500 each to a special building fund. The fund’s assets will be invested in mortgage instruments expected to pay interest at 12% on the fund’s balance. (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.)Determine how much will be accumulated in the fund on December 31, 2024 after four years, under each of the...
Sunland Company leases a building to Walsh, Inc. on January 1, 2017. The following facts pertain to the lease agreement. The lease term is 5 years, with equal annual rental payments of $4,068 at the beginning of each year. 1. Ownership does not transfer at the end of the lease term, there is no bargain purchase option, and the asset is not of a specialized nature. 2. The building has a fair value of $20,200, a book value to Sunland...
b. If the company makes the first deposit one year from now, how much should each deposit be? 3. A start-up internet service provider expects to lose money in each of the first four years. Losses are projected to be $50 million in year one, $40 million in year two, $30 million in year three and $20 million in year four. An interest rate of 10% per year is used. a. What is the present worth of the losses for...