Home / Questions / Q A Company decided to borrow 15000000 from the bank to purchase a new Air jet for it The...
Q) A Company decided to borrow $ 15,000,000 from the bank to purchase a new Air jet for it. The loan will be paid in equal quarterly payments over 15 years starting at the end of the 1st year (A) .The value of the installment will be doubled for the last five years (2A) .If the interest rate is 8% per quarter compounded quarterly, Find:
a) The value of the equal payments (A)
b) If the company decided to pay off the remaining balance after the 35th payment, what will be their remaining balance then?
Note: I have solved part (a) and I got A = 43,1519.4874 $ per quarter. but for part b I can't solve it please help me. Thanks in advance.
Aug 23 2020 View more View Less
Hi, I need help with adjusting entries. Adjustment info as of Sept 30, 2019:Joe estimates that his office furniture and boat related equipment will last 8 years with no s...
Sep 15 2020Why is the surface perfection of glass fibers so important? >
Jun 29 2020If the price of X was cut in half The budget line would rotate in such a way that it would become steeper, but the Y intercept would not change. The budget line would bec...
Feb 01 2020Each of the following independent situations relates to information available on the last day of the year. Each involves an adjustment that must be made to the accounting...
Apr 30 2018Scallops, sampling, and the law. Interfaces (March–April 1995), discussed the case of a ship that fishes for scallops off the coast of New England. In order to protect ba...
Aug 07 2020Coffey Corporation purchased debt investments for $52,000 on January 1, 2010. On July 1, 2010, Coffey received cash interest of $2,340. Journalize the purchase and the re...
Mar 31 2020Given this set of daily service operations, and assuming a processing order of A-B-C-D-E: Service Operation 1 C D E Number of Daily Reps 26 48 40 22 44 Click here for the...
Apr 13 2021CVP analysis, international cost structure differences. Braided Rugs, Inc., is considering three possible countries for the sole manufacturing site of its newest area rug...
Jul 19 2020Paulson Enterprises uses a job costing system. Record the following transactions in Paulson Enterprises's general journal for the current month:a) Purchased raw mater...
Jan 11 2020Thomas Drake is a small business owner, operating a manufacturing plant in Chicago, Illinois (as an S-Corp.) He has heard about a new tax break called Section 199A (deduc...
Dec 06 2019