Homework Answers
| Interest rate (i)= | 1.50% | =18%/12 |
| Number of periods(n) | 12 | |
| Purchase price | 146000 | |
| Divide by PVA of $1 | 10.90751 | =(1-(1.015)^-12)/0.015 |
| Monthly installment payments | 13385 | |
| Option A $13,385 is correct |
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Green Industries purchased a machine from Cyan Corporation on October 1, 2021. In payment for the...
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Green Industries purchased a machine from Cyan Corporation on October 1, 2021. In payment for the $147,000 purchase, Green issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. Monthly installment payments are closest to: (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.) 0 $14,179....
Green Industries purchased a machine from Cyan Corporation on October 1, 2021. In payment for the...
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Green Industries purchased a machine from Cyan Corporation on October 1, 2021. In payment for the $147,000 purchase, Green issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. Monthly installment payments are closest to: (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.) 0 $14,179....
Green Industries purchased a machine from Cyan Corporation on October 1, 2021. In payment for the $136,000 purchase, Green issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 18%. Monthly installment payments are closest to: (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.) $24,480. ооо...
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