Author Question: Betty borrows 60,000 at 12 percent compounded annually. The loan is to be repaid in five equal ... (Read 137 times)

tfester

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Betty borrows 60,000 at 12 percent compounded annually. The loan is to be repaid in five equal annual
  end-of-year installments. How much must each loan payment be?
 
  What will be an ideal response?

Question 2

WPM, Inc. has current assets of 8,000,000, current liabilities of 4,000,000, inventory of 1,320,000,
  and sales of 12,000,000. What is the acid test ratio?
 
  A) 0.1 B) 1.67 C) 0.22 D) 2.0


kilada

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Answer to Question 1

16,644.58, based on PVA = 60,000; N = 5; I = 12; PMT = 16,644.58

Answer to Question 2

B



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