FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A loan payment of $150000 was de 20 days ago and another payment of $900.00 is due 70 days from now. What single payment 110

image text in transcribed
A loan payment of $150000 was de 20 days ago and another payment of $900.00 is due 70 days from now. What single payment 110 days from now will pay off the two obligations if interest is to be 5% and the agreed local date is 110 days from now? The value of the payments (Round the final answer to the newest contas nooded Round all intermediate values to six decimal places as needed)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Contemporary Financial Management

Contemporary Financial Management

Authors: James R Mcguigan, R Charles Moyer, William J Kretlow

10th Edition

978-0324289114, 0324289111

More Books

Students also viewed these Finance questions

Question

★★★★★
A surveyor wishes to lay out a square region with each side having length L. However, because of a measurement error, he instead lays out a rectangle in which the north-south sides both have length X...

Answered: 1 week ago

Question

★★★★★
Record the Journal Entries, Income Statement, and Balance Sheet On January 1, 2021, GoodDog! Academy reported the following account balances: Accounts Cash Accounts Receivable Supplies Equipment...

Answered: 1 week ago

Question

★★★★★
1 The National Health Service British Prime Minister John Major announced a new Citizens Charter in July 1991. This implied a change of attitude for the NHS: patients should be seen as customers with...

Answered: 1 week ago

Question

★★★★★
essay on the United Nations Human Rights Council's 2017 report on the financialization of housing (relevant links below). You may either agree or disagree with the report. Your grade should not...

Answered: 1 week ago

Question

★★★★★
A loan payment of $150000 was de 20 days ago and another payment of $900.00 is due 70 days from now. What single payment 110 days from now will pay off the two obligations if interest is to be 5% and...

Answered: 1 week ago

Question

★★★★★
Crowding out" in insurance take-up most often is used to refer to: a.) Consumers switching from private insurance to Medicare at age 65. b.)Elderly consumers drawing down their wealth to qualify for...

Answered: 1 week ago

Question

★★★★★
5. Don Juan, a single taxpayer, is the sole owner of DJs Incorporated, an S Corporation. In 2021, DJs Incorporated incurred a massive $600,000 business loss, all of which is allocable to Don Juan as...

Answered: 1 week ago

Question

★★★★★
Calculate the Times interest earned ratio. Income Statement Area 1.1 Netflix Income Statement Revenue Cost of Revenue Gross Profit Operating Expense Operating Income Int Exp Taxes Net Income FY 2021...

Answered: 1 week ago

Question

★★★★★
Explain the purpose of the program as detail as possible 3%. Develop a solution for the problem and mention algorithm used -12% List data structures to be used in the solution. - 2%. Give a...

Answered: 1 week ago

Question

★★★★★
A local firm employs 20 full-time professionals. The budgeted annual compensation per employee is $81,000. The budgeted average chargeable time is 500 hours per client annually. All professional...

Answered: 1 week ago

Question

★★★★★
1. Given the following ad for an apartment, what are the upfront costs? [1 mark] $2150*2=$2150 BR/1 BA, Bright & Beautiful 1 Bedroom. - Hardwood floors - With fridge and stove - 1 year lease - Steps...

Answered: 1 week ago

Previous Question Next Question