Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now. What is that single payment, if money is worth 9.5% p.a. and the agreed focal date is 170 days from now. Round to the nearest cent.

Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now. What is that single payment, if money is worth 9.5% p.a. and the agreed focal date is 170 days from now. Round to the nearest cent.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 26E

See similar textbooks

Similar questions

On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest payments are paid annually, each interest payment will be ________. A. $120,000 B. $60,000 C. $7,500 D. $15,000
Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
Debt payments of $1,800 due today and $1,200 due in 210 days are to be combined into a single payment to be made 80 days from now. What is the single payment, if money is worth 9% and the agreed focal date is 80 days from now?
Two debt payments, the first in the amount of $1600.00 due today, and the second in the amount of $7200.00 due in 15 months with interest at 9.6% p.a. compounded quarterly, are to be settled by a payment of $3400.00 nine months from now and a final payment in 21 months. Determine the size of the final payment if the money is worth 12.12% p.a. compounded monthly. Select one: a. $5,787.66 b. $6,750.48 c. $5,400.00 d. $6,092.09
Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323days are to be combined into a single payment to be made 115 days from now.What is that single payment if money is worth 8.5% p.a. and the focal date is 115days from now?
Debt payments of $2,350 and $1,050 are due in five months and ten months, respectively. What single payment is required to settle both debts in one month? Assume a simple interest rate of 6.80% p.a. and use one month from now as the focal date. Round to the nearest cent
A debt of P43,000 whose interest rate is 14% compounded semi-annually, is to be discharged by a series of 1O semi-annual payments, the first payment to be made 6 months after consummation of the loan. The first 6 payments will be P6,300 each, while the remaining 4 payments will be equal and of such amount that the final payment will liquidate the debt. What is the amount of the last 4 payments. A = Php 7,746.897 A = Php 8,746.789 A = Php 6,746.328 A = Php 5,746.814
Today we have a debt that must be paid in 30 installments per month due, as follows: $10,000 the first, $12,000 the second, $14,000 the third and so on, and with an interest rate of 3.2% per month. It is desired to be replaced by the equivalent in 30 equal installments, starting in four months, and an interest rate of 3% per month. Determine the value of the new uniform series Select one: a. $36.582,35 b. $31.872,99 c. $29.772,99
A debt of $7,000.00 is to be paid off with 10 equal semi-annual payments. If the interest rate is 13% compounded semi-annual, what is the size of the payment?The semi-annual payment would be $. (Round to 2 decimal places.)
Two debt payments, the first for $800 due today and the second for $600 due innine months with interest at 10.5% compounded monthly, are to be settled by apayment of $800 six months from now and a final payment in 24 months.Determine the size of the final payment if money is now worth 9.5%compounded quarterly.
A debt of P40,000, whose interest rate is 15% compounded semiannually, is to be discharged by a series of 10 semiannual payments, the first payment to be made 6 months after consummation of the loan. The first 6 payments will be P5,000 each, while the remaining 4 payments will be equal and of such amount that the final payment will liquidate the debt. What is the amount of the last 4 payments?
A debt is to be paid with 24 equal quarterly installments and an interest rate of 36% NM. If once the 15th installment is paid, a request is made to refinance the balance existing at that time to pay it with 12 equal monthly installments at the same interest rate, if it is known that the value of the new installments is $ 680.000. Find the value of the initial loan, what was the balance to be financed? Please make it step by step and understandable, if you can do the process in excel it would be phenomenal.The topic we are working on is annuities.