Answered: REQUIRED: Provide the following input…

REQUIRED: Provide the following input values: N = I/Y = PMT = FV = The note was issued at The present value of the note is $

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter21: Cash Budgeting (cashbud)

Section: Chapter Questions

Problem 3R: Can the 10,000 note be repaid on May 1? Explain.

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Question

On 1 January 2024, Nissan Inc. provided services to Eagle Co. in exchange for Eagle’s $300,000, 2-year 8% note with interest compounded semi-annually on July 1 and January 1. The current market rate of similar notes is 12%. Pelican Inc. financial year ends December 31.

Set financial calculator to zero decimal place.

REQUIRED:
Provide the following input values:
N =
I/Y =
PMT =
FV =
The note was issued at
The present value of the note is $

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