[Solved] 107. Prof Inc borrowed $200,000 from the

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 16, 2024

107. Prof Inc borrowed $200,000 from the bank and signed a 6-year note at 8%. The present value of an annuity factor for 6 years

107. Prof Inc borrowed $200,000 from the bank and signed a 6-year note at 8%. The present value of an annuity factor for 6 years at 8% is 4.6229. To the nearest dollar, the annual payment is: A. $33,333. B. $41,960. 0. $45,827. g $43,263. E. $28,599

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

ISBN: 324300980, 978-0324300987

More Books

Students also viewed these Accounting questions

Question

★★★★★

X rays with a wavelength of 71 pm are directed onto a gold foil and eject tightly bound electrons from the gold atoms. The ejected electrons then move in circular paths of radius r in a region of...

Answered: 1 week ago

Question

★★★★★

Gold is the most electronegative transition metal. Explain.

Answered: 1 week ago

Question

★★★★★

For a continuous random variable X with distribution function F, we have F(x) = P(X = x).

Answered: 1 week ago

Question

★★★★★

Brooks Hardware reported cost of goods sold as follows. Brooks made two errors:1. 2011 ending inventory was overstated by $2,000.2. 2012 ending inventory was understated by $5,000.InstructionsCompute...

Answered: 1 week ago

Question

★★★★★

Calculate the net income using the following data: Interest expense $3,000 Wages expense $81,800 Supplies expense $4,700 Rent expense $5,000 Sales Revenue $126,000 Interest Revenue $8,500

Answered: 1 week ago

Question

★★★★★

Calculator Depositing all cash, checks, etc. in a bank and paying with checks is an internal control procedure over cash. True False

Answered: 1 week ago

Question

★★★★★

1. A source of yellow light ( = 570 nm) produces interference through two narrow slits separated by a distance of 0.01cm. A screen is placed 3m away. a. How far from the central max is the fifth...

Answered: 1 week ago

Question

★★★★★

You are revising your company's talent acquisition strategy to make it more competitive and appealing to potential candidates. Part of your strategy involves clearly presenting the compensation...

Answered: 1 week ago

Question

★★★★★

Inventory Land Book Value Fair Value $ 630,000 $ 600,000 750,000 990,000 1,700,000 2,000,000 Buildings Customer relationships Accounts payable 0 (80,000) Common stock (2,000,000) Additional paid-in...

Answered: 1 week ago

Question

★★★★★

The standard Treasury Bond futures contract has a face value of $100,000, at least 15 years to maturity and a coupon of 6%, payable semi-annually. The quoted price of the futures contract is based on...

Answered: 1 week ago

Question

★★★★★

15. What option allows the scheduler to go in and look at the information "behind" the scheduled appointments? For example, date "appointment made", wait times, service connection, etc).

Answered: 1 week ago

Question

★★★★★

Kason spends several hours a week generating reports on sick hours used across his company. The task eats up his available work hours and prevents him from doing other jobs he needs to do. What...

Answered: 1 week ago

Question

★★★★★

2. Now imagine a real situation in your workplace or home situation where someone gives you feedback. a. Did you perceive the feedback as a hidden criticism? b. Did you perceive the feedback as a...

Answered: 1 week ago

Question

★★★★★

2. In this chapter, the reader should reflect on the following concepts: feedback and flexibility as a basis for change, intention and communication as a basis for change and behavioural patterns as...

Answered: 1 week ago

Question

★★★★★

Always have the dignity of the other or others as a backdrop.

Answered: 1 week ago

Previous Question Next Question