Answer:
$1,028.11
Explanation:
In this question we use the Present value formula that is presented on the attached spreadsheet
Given that,
Future value = $1,000
Rate of interest = 6.7% ÷ 2 = 3.35%
NPER = (20 years - 5 years) × 2 = 30 years
PMT = $1,000 × 7% ÷ 2 = $35
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the present value is $1,028.11
Answer:
$24,000
Explanation:
The computation of the adjusted basis in the land after the exchange is shown below:
= Adjusted basis at the time of exchange + additional amount given
= $20,000 + $4,000
= $24,000
We simply added the Adjusted basis at the time of exchange and the additional amount so that the accurate value can come.
And the other information which is given in the question is not relevant. Hence, ignored it
Answer:
Length = 45 feet
Width = 20 feet
Explanation:
Let the length of the court be 'L' and width be 'B'
Given:
According to the question
2(L + B) = 130
or
L = 65 - B ..............(1)
and,
3L + 9B = 315
or
L + 3B = 105 ....................(2)
from 1 and 2
65 - B + 3B = 105
or
2B = 40
or
B = 20 feet
And,
L = 65 - B
or
L = 65 - 20
or
L = 45 feet