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Pie
3 years ago
8

Casey wants to calculate the monthly payments for each loan option that he is considering. Switch to the Loan Options worksheet.

In cell B12, create a formula using the PMT function to calculate the monthly payments for loan Option A. Use the values in cells B8, B10, and B5 for the Rate, Nper, and Pv arguments, respectively, and do not enter any values for the optional arguments. Copy the formula you created in cell B12 into the range C12:D12.
Business
1 answer:
taurus [48]3 years ago
6 0

Answer:

= PMT(B8/12,B10,B5)

Explanation:

The excel PMT function is calculated using the following formula

PMT(rate, nper, pv, [fv], [type])

Where rate = rate of payments per month

nper = duration of payment in month

pv = Present Value

fv = future value (it's an optional field)

type = payment type (it's an optional field)

Given that

B8 = rate

B10 = nper

B5 = pv

In cell B12, type the following

= PMT(B8/12,B10,B5)

We're making use of B8/12 because we need the rate to be in months not years.

Since there are 12 months in a year, monthly rate = B8/12

To use this formula in C12:D12

Use the following;

In cell C12, type the following

= PMT(C8/12,C10,C5)

In cell D12, type the following

= PMT(D8/12,D10,D5)

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In its first month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 370 units at
Andreas93 [3]

Answer:

The cost of the ending inventory under FIFO is $2,430 and under LIFO is  $1,620

Explanation:

First determine the units sold

Units Sold = Total Purchases - Units in hand

                  = 1,410 units - 270 units

                  = 1,140

Note ; Wildhorse Co. uses a periodic inventory system. This means we calculate the cost at the end of the period.

FIFO

Means First in First Out

Cost of the ending inventory = 270 x $9.00 = $2,430

LIFO

Means Last in First Out

Cost of the ending inventory = 270 x $6.00 = $1,620

Conclusion

The cost of the ending inventory under FIFO is $2,430 and under LIFO is  $1,620

5 0
3 years ago
A friend asks to borrow $55 from you and in return will pay you $58 in one year. If your bank is offering a 6.0% interest rate o
Vlada [557]

Answer:

a.

Value of deposit = $58.3

b.

We can borrow approx $54.72 today if we are to pay bank $58 in one year from now.

c.

The return provided by bank for a deposit of $55 is an interest of $3.3 (58.3 - 55) while the return provided by lending to a friend is $3 (58 - 55). So, the money should be deposited in the bank.

Explanation:

a.

The interest offered by the bank is at 6% which we assume is the simple interest rate. To calculate the value one year from now of $55 deposited in the bank at 6%, we can use the following formula,

Value of deposit = Principal + Interest

Where,

Interest can be calculated as = Principal * interest rate

So,

Value of deposit = 55 + 55 * 0.06

Value of deposit = $58.3

We would have $58.3 one year from now if deposited in the bank.

b.

To calculate the money that can be borrowed today for a one year later payment of $58 can be calculated using the present value formula,

Present Value = Future Value / (1+i)^t

Present value = 58 / (1+0.06)^1

Present value = 54.71698113 rounded off to $54.72

So, we can borrow approx $54.72 today if we are to pay bank $58 in one year from now.

c.

The return provided by bank for a deposit of $55 is an interest of $3.3 (58.3 - 55) while the return provided by lending to a friend is $3 (58 - 55). So, the money should be deposited in the bank.

7 0
3 years ago
Chapter 13 bankruptcy involves... Question 5 options: A) eliminating the lowest interest debt that someone owes
ElenaW [278]
The awnser to this one is C
5 0
3 years ago
What are two examples of barriers to entry in the magazine market?
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8 0
3 years ago
What must be shown to prove negligence that is not needed to prove strict
Readme [11.4K]

Answer:

A. Injury

Explanation:

Given that for strict liability, the defendant is only liable to accidents he or she causes, that is to prove strict liability, the plaintiff must show

cause and damages. Whereas on negligence, it is required of a plaintiff to show duty, breach, cause, and injuries.

Hence, what must be shown to prove negligence that is not needed to prove strict is "Injury" as it covers a lot of factors including both cause and damages of strict liability.

5 0
3 years ago
Read 2 more answers
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