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Author Question: Betty borrows 60,000 at 12 percent compounded annually. The loan is to be repaid in five equal ... (Read 37 times)

tfester

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on: Jul 11, 2018
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
Foundations of Finance ¦ Keown, Petty, Martin ¦ 9th Edition
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kilada

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Reply #1 on: Jul 11, 2018
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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