i need accurate answer. make sure (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Automotive Excellence Inc. borrowed $18,000.00 on March 4 with an interest rate of 8.8% per annum. On June 1, $5000.00 was repaid, and on August 16, $5100.00 was repaid. Automotive Excellence paid the balance of the loanon October 3. What was the final payment?The final payment was $(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

We need to compute loan balance as on October 3 to determine the final payment.

Automotive Excellence Inc. borrowed $18,000.00 on March 4 with an interest rate of 8.8% per annum. On June 1, $5000.00 was repaid, and on August 16, S5100.00 was repaid. Automotive Excellence paid the balance of the loan on October 3. What was the final payment? The final payment was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Automotive Excellence Inc. borrowed $18,000.00 on March 4 with an interest rate of 8.8% per annum. On June 1, $5000.00 was repaid, and on August 16, S5100.00 was repaid. Automotive Excellence paid the balance of the loan on October 3. What was the final payment? The final payment was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Q. 4
ing annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. Do not round intermediate calculations. Round your answers to the nearest cent. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.) a. $600 per year for 10 years at 6%. $ b. $300 per year for 5 years at 3%. $ c. $600 per year for 5 years at 0%. $ d. Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is,…

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