Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 7 Time Value of Money Tables Present value of a single sum: Perio 283848586% 0.9612 0.9426 0.9246 0.9070 0.8900 0.9423 0.9151 0.8890 0.8638 0.8396
Question 7 Time Value of Money Tables Present value of a single sum: Perio 283848586% 0.9612 0.9426 0.9246 0.9070 0.8900 0.9423 0.9151 0.8890 0.8638 0.8396 0.9239 0.8885 0.8548 0.8227 0.7921 0.9057 0.8626 0.8219 0.7835 0.7473 0.8880 0.8375 0.7903 0.7462 0.7050 0.8535 0.7894 0.7307 0.6768 0.6274 0.8203 0.7441 0.6756 0.6139 0.5584 0.8573 0.7938 0.7350 0.6806 0.6302 0.5403 0.4632 10% 0.8265 0.7513 0.6830 0.6209 0.5645 0.4665 0.3855 Present value of an ordinary annuity: MacBook Pro 30 Present value of an ordinary annuity: 1.9416 2.8839 3.8077 4.7134 5.6014 7.3255 89826 1.9135 2.8286 3.7171 4.5797 5.4172 7.0200 8.5300 1.8861 1.8549 2.7751 2.7233 3.6299 3.5460 4.4518 4.4518 5.24215.0761 6.7327 6.4632 8.1109 7 .7217 1.8333 1.7833 1.7355 2.6730 2 .5776 2.4869 3.4650 3.3121 3.1699 4.2124 3.9927 3.7908 4.91734.62294.3553 6.2098 5.7466 5.3349 7.3601 6.7101 6.1446 Present value of an annuity due: 1.9804 2.9416 3.8839 4.8077 5.7135 7.4720 9.1622 3% 1.9709 2.9135 3.8286 4.7171 5.5797 7.2303 8.7861 4% 1.9615 2.8861 3.7751 4.6299 5.4518 7.0021 8.4353 5% 1.9524 2.8594 3.7233 4.5460 5.3295 6.7864 8.1078 6% 1.9434 2.8334 3.6730 4.4651 5.2124 6.5824 7.8017 8% 1.9259 2.7833 3.5771 4.3121 4.9927 6.2064 7.2469 10% 1.9174 2.7355 3.4869 4.1699 4.7908 5.8684 6.7590 MacBook Pro 80 255 89826 70200 85300 6.7327 3.1109 6.4632 7.7217 5.2098 7.3601 5.7466 6.7101 5.3349 6.1446 Present value of an annuity due: NON STON 101.9709 1.9615 1.95241.94341.92599174 2.9416 2.9135 2.8861 2.8594 2.8334 2.7833 2.7355 3.88393 .8286 3.7751 3.7233 3.6730 3.5771 3.4869 4.3077 4.7171 4.6299 4.5460 4.4651 4.3121 4.1699 5.7135 5.5797 5.45185.3295 5.2124 4.9927 4.7908 7.4720 7.23037.0021 6.7864 6,5824 6.2064 5.8684 9.1622 8.7861 8.4353 8.1078 7.8017 7.24696.7590 On January 1, 2020, the Timber Company purchased land and gave a $37,000 cash down payment and a zero-interest bearing eight year $360,000 note. The note is payable in eight annual installments of $45,000 each. Each installment is due on December 31", with the first installment due on December 31, 2020. At the time of the issuance of the note the market interest rate was 6%. For what amount would the Timber Company record the land on its books at January 1, 2020? MacBook Pro
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