Ms. Cents is buying a 25% interest in an accounting partnership by end-of-month payments of $537.66, including
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Question:
Ms. Cents is buying a 25% interest in an accounting partnership by end-of-month payments of $537.66, including interest at 8% compounded semiannually, for 12 years.
a)What valuation was placed on the partnership at the beginning of the payments? (Round to the nearest $100,000)
b)What total amount of interest will she pay over the 12 years? (Round to the nearest dollar)
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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