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Please help! Thank you Required: Each of the 5 tabs in this workbook contain independent time value of money questions. Find the solutions to each
Please help! Thank you
Required: Each of the 5 tabs in this workbook contain independent time value of money questions. Find the solutions to each of the questions using the various time value of money Excel formulas we discussed in class (PV, FV, NPER, RATE, PMT). Show all steps and calculations. On January 1, 2021, the Gerard Corp agreed to purchase large equipment by making six payments. The first three are to be $28,000 each, and will be paid on December 31, 2021, 2022, and 2023. The last three are to be $32,000 each and will be paid on December 31, 2024, 2025, and 2026. Gerard borrowed other money at a 4% annual rate. At what amount should Gerard record the note payable and corresponding cost of the equipment on January 1, 2021? How much interest expense on this note will Gerard recognize in 2021Step by Step Solution
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