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(The following information applies to the questions displayed below.) The note about debt included in the financial statements of Healdsburg Company for the year ended
(The following information applies to the questions displayed below.) The note about debt included in the financial statements of Healdsburg Company for the year ended December 31, 2017 disclosed the following: 8.05 notes due 2018 8.55% notes due 2023 8.80% notes due 2032 8.43% notes due 2040 7.35% notes due 2019 $216,400,000 $360,200,000 $241,000,000 $216,000,000 $ 26,600,000 The above table summarizes the long-term debt of the Company at December 31, 2017. All of the notes were originally issued at their face (maturity) value and have been gradually repaid over time so that these amounts are the remaining balances at this date. Assuming that the notes pay interest annually and mature on December 31 of the respective years. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Suppose that Healdsburg wants to pay off the 8.55% notes on December 31, 2018, (i.e., five years early) when the going interest rate is 7%, thereby retiring the $360,200,000 in debt. How much would Healdsburg have to pay for the notes (principal only) on this date in order to satisfy the noteholders? (Round your final answer to the nearest dollar amount.) Principal value Don James purchased a new automobile for $12,000. Don made a cash down payment of $3,000 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Round your final answers to nearest whole dollar amount.) Monthly payment
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