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ololo11 [35]
3 years ago
15

g Jack and Jill borrow $21,000 at 7.2% amortized over 6 years to drill a well and renovate their kitchen and bathrooms. Assuming

that the monthly principal and interest payments are made as agreed, what is the loan balance at the end of 3 years
Business
1 answer:
leonid [27]3 years ago
6 0

Answer:

The loan balance at the end of 3 years is $11,626.26.

Explanation:

Prepare an Amortization Table to determine the loan balance at end of year 3

First, enter the following data in Financial Calculator to find the PMT, payment per month:

Pv = $21,000

r = 7.2%

n = 6 × 12 = 72

P/yr = 12

Fv = $0

PMT = ? - $360.0493

Thus the payment PMT per month is $360.0493.

Year 3

The following are balances extracted from Amortization schedule for Year 3.

Note : 36 months would have expired at end of year 3.

Principle = $ 3,619.94

Interest   = $1,060.70

Balance  = $11,626.26

Conclusion :

The loan balance at the end of 3 years is $11,626.26

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Ajax is reviewing its previous 100% acquisition of Baxter to determine if there is goodwill impairment. At December 31, 2020 Aja
Sedaia [141]

Answer:

Baxter

The amount of the Goodwill write-off required to be booked by Ajax at December 31, 2020 under the FASB rules effective in 2020 is:

= $130,000.

Explanation:

a) Data and Calculations:

Recorded Goodwill = $330,000

Book value of net assets = $400,000

Book value of all assets = $730,000 ($400,000 + $330,000)

Estimated fair value of company = $600,000

Goodwill impairment = $130,000 ($730,000 - $600,000)

b) The Goodwill impairment of $130,000 arose when the book value or the carrying amount exceeded the estimated fair value.

7 0
3 years ago
The growth rate in the fourth quarter of 2010 was 3.1%. What was the growth rate in the first quarter of 2011?
TiliK225 [7]
The answer is C) 1.9
5 0
3 years ago
Read 2 more answers
Rubin Enterprises had the following sales-related transactions on a recent day:
spayn [35]

Answer:

Transaction a

Debit  : Account Receivable $27,500

Credit : Sales Revenue $27,500

Transaction b

Debit  : Cash $5,875

Credit : Deferred Revenue $5,875

Transaction c

Debit  : Sales Revenue $1,500

Credit : Account Receivable $1,500

Transaction d

Debit  : Deferred Revenue $5,875

Credit : Sales Revenue $5,525

Credit : Discount received $350

Explanation:

The journals have been prepared above.

8 0
3 years ago
the relationship between the strategic planning process and portfolio management in an organization ______
Verizon [17]

Answer:

Explained below:

Explanation:

The Strategic Planning process is a planning process performed by the top-level management, to decide where the organization is willing to reach in the coming day and Portfolio management is the act of building and maintaining an appropriate investment mix for given risk tolerance.

Portfolio management in an organization is closely associated with each other as when the organization requires to do investment, it necessity be done through the  Strategic Planning process which is performed by the top-level management to minimize the risk.

3 0
3 years ago
Ms. Z has decided to invest $75,000 in state bonds. She could invest in State A bonds paying 5 percent annual interest or in Sta
rodikova [14]

Answer:

Ms. Z should invest in the State A.

Explanation:

Coupons from State A = (1 - 0.33)*0.05*75000

                                      = 2512.5

Coupons from State R = (1 - 0.33 - 0.085)*.054*75000

                                     = 2369.25

Therefore, Ms. Z should invest in the State A .

7 0
3 years ago
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