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1. 2. 3. Dave Krug finances a new automobile by paying $7,200 cash and agreeing to make 30 monthly payments of $430 each, the first
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Dave Krug finances a new automobile by paying $7,200 cash and agreeing to make 30 monthly payments of $430 each, the first payment to be made one month after the purchase. The loan bears Interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use approprlate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Factor Present Value of Loan GO Table Values are Based on: Present Value of Loan Cash Down Payment Cost of the Automobile Spiller Corp. plans to issue 6%, 5-year, $560,000 par value bonds payable that pay Interest semiannually on June 30 and December 31. The bonds are dated December 31, 2019, and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use approprlate factor(s) from the tables provided. Round your "Table value" to 4 declmal places and final answers to nearest whole dollar.) If the market rate of Interest for the bonds is 4% on the date of issue, what will be the total cash proceeds from the bond issue? Table Values are Based on: Table Value Amount Present Value Cash Flow Present (maturity) value Interest (annuity) Total cash proceedsStep by Step Solution
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