A company must repay the bank a single payment of $24,000 cash in 4 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value of 1 (single sum) at 8% for 4 years is. 7350. The present value of an annuity (series of payments) at 8% for 4 years is 3.3121. The present value of the loan (rounded) is
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A company must repay the bank a single payment of $24,000 cash in 4 years for a loan it entered into. The loan is at 8% interest compounded ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Under the ucc, a sale occurs when title passes from a seller to a buyer for a price. question 1 options: a. True b. False
Answers (1)
g Select one: a. If a firm's stockholders are well diversified, we know from theory and from studies of market behavior that corporate risk is not important. b.
Answers (1)
Suppose you work for a mutual fund firm. Your team is thinking of investing in Wizard's stock. Your task is to create a report on the stock's performance and investment potential. In this scenario, you are working as a analyst.
Answers (1)
Industrial tools owes you $38,600. this amount is seriously delinquent so you have offered to accept weekly payments for one year at an interest rate of 3 percent to settle this debt in full. what is the amount of each payment?
Answers (1)
When Jenna Henderson works overtime (any hours over 40 hours a week), she us paid 1.5 times her regular hourly rate. Last week, she worked 62 hours. If her regular hourly rate is $6.50, what did she earn last week?
Answers (2)
New Questions in Business
Hornberger, Inc. recently paid a dividend of $2.00 per share. The next dividend is expected to be $2.05 per share. Hornberger has a return on equity of 11.00%. What percentage of its earnings does Hornberger plow back into the firm?
Answers (1)
A tip of $10 is best for which kind of service? A. a mover who delivers furniture to your new home B. a valet who parks your car at a restaurant C. a waiter at a fast-food restaurant
Answers (2)
Sunland Company manufactures and sells high-priced motorcycles. The Engine Division produces and sells engines to other motorcycle companies and internally to the Production Division.
Answers (1)
Adamson Company manufactures four lines of garden tools. As a result of an activity analysis, the accounting department has identified eight activity cost pools.
Answers (1)
Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent cases. Click here to access the 2019 tax rate schedule. If required, round the tax liability the nearest dollar.
Answers (1)