Otto Company borrows money on January 1 and promises to pay it back in four semiannual payments of $30,000 each on June 30and December 31 of both this year and next year. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from thetables provided. Round "Table Factor" to 4 decimal places.)1. How much money is Otto able to borrow if the Interest rate is 2%, compounded semiannually?2. How much money is Otto able to borrow If the Interest rate is 6%, compounded semiannually?3. How much money is Otto able to borrow if the Interest rate is 8%, compounded semiannually?Complete this question by entering your answers in the tabs below.Required 1 Required 2Required 3How much money is Otto able to borrow if the interest rate is 2%, compounded semiannually?Periodic Cash FlowTable FactorPresent Value

Present value = Periodic cash flow * Present value annuity factor.2. Present value factor is…

Answered: Otto Company borrows money on January 1…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 9PB: Pickles R Us is a pickle farm located in the Northeast. The following transactions take place: A. On...

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On January 1, a company agrees to pay $13,000 in six years. If the annual interest rate is 2%, determine how much cash the company. can borrow with this agreement. (PV of $1. EV of $1. PVA of $1, and EVA of $1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Future Value Table Factor Amount Borrowed
Kingsley Toyota borrowed $175,000 from a local bank. The loan requires Kingsley to pay 15 equal annual installments beginning one year from today. Assume an interest rate of 7%. What is the amount of each annual installment payment? (FV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Round your final answers to nearest whole dollar amount.) Table or calculator function: Loan Amount: Loan Payment: n= F= PVA of $1 S 175,000 15 7% II
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A company borrowed $100,000 from a local bank. The loan requires 10 equal annual payments beginning one year from today. Assume an interest rate of 8%. What is the amount of each annual payment? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
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PLease help me answer this question step by step please and thank you.
Chris Taylor is settling a $20,280 loan due today by making 6 equal annual payments of $4,656.44. Click here to view factor tables Determine the interest rate on this loan, if the payments begin one year after the loan is signed. (Round answer to O decimal places, e.g. 8%.) Interest rate
What annual rate of return is implied on a $2,500 loan taken next year when $4,750 must be repaid in year 6 ? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
1.Assume that you deposit $946 into an account that pays 11 percent per annum. How much money will be in the account 24 years from today? Round your answer to 2 decimal places; record your answer without commas and without a dollar sign. 2. You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $200 (first payment made at t = 1), followed by five annual payments of $507 , followed by four annual payments of $885 . How much did you borrow? Round your answer to 2 decimal places; record your answer without commas and without a dollar sign.
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A bank has agreed to lend you $127,800 for a home loan. The loan will be fully amortized over 57 years at 12.98%, with .13 points. The loan payments will be monthly. The closing cost is estimated to be $2,168. Calculate the loan principal. $130,063.66 $130.137.18 $130,181.52 $130,144.37 None of the answers are correct

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