Determine the revised amount of the last installment

Assignment Help Financial Accounting
Reference no: EM132755594

Problem - A loan is being repaid by 15 annual instllments of 1000 each. Interest is at an effective annual rate of 5%. Immediately after the ?fth installment is paid, the loan is renegotiated. The revised amortization schedule calls for a sixth installment of 800, a seventh installment of 800 + K, with each subsequent installment increasing by K over the previous payment. The period of the loan is not changed. Determine the revised amount of the last installment.

Reference no: EM132755594

Questions Cloud

Investigate new proposals or policy implementations : Investigate new proposals or policy implementations that have impacted this evolution, as well as current healthcare access and efficiency issues in the Kingdom
What amount of gain or loss on transfer company recognize : As of December 31, 2019, it has a carrying value of Php 4,900,000. What amount of gain or loss on transfer should the company recognize on December 31, 2020
What before-tax amount should the company report as loss : What before-tax amount(s) should the company report as loss on discontinued operations in its 2021 income statement
Described as propaganda : Describe a communication example that you have seen that is best described as propaganda.
Determine the revised amount of the last installment : A loan is being repaid by 15 annual instllments of 1000 each. Interest is at an effective annual rate of 5%. Determine the revised amount of last installment
Revising and presenting your writing : Identify three areas of evaluation you consider to be most important in communicating effectively and preventing misunderstandings through revision
Determine the amount of joint costs to be allocated : The marketing expense related to Beta is P8,100. Determine the amount of joint costs to be allocated between the two joint products, Alpha and Gamma
Process selection and resource planning : The Bullwhip effect is often used to describe the magnification of demand variability due to distorted information through the supply chain.
Bioactive dihydroisoquinoline compounds : Summary of the results and primary conclusions. It is usually easiest to write the abstract after completing the other sections of the dissertation

Reviews

Write a Review

Financial Accounting Questions & Answers

  Preparing the statement of cash flows

Anderson Company uses the indirect method of preparing the Statement of Cash Flows and reports the following comparative balance sheet information

  Best bookstores accounting equation

On June 1, Williams Book Company sold Best Bookstore $4,300 of books for cash. During the month, Best Bookstore returned books costing $500 to Williams for a cash refund. In the same month, Best sold the remaining books to their customers for a total..

  What is the balance of allowance for uncollectible accounts

Prepare the entry to record the uncollectible accounts expense. What is the balance of Allowance for Uncollectible Accounts after this adjustment?

  Business ethics and social responsibility

Which of the subsequent accounts are not included in the calculation for Gross Profit and Corporate governance include concerns about business ethics and social responsibility

  What is the npv - better mousetraps

Sales forecasts are given in the following table. The firm pays tax at 35% and the required return on the project is 12%. What is the NPV?

  Find the company inventory days for year averaged days

In the recent year, Rs. 500,000; and its cost of goods sold was Rs. 400,000. The company's inventory days for that year averaged days.

  What are the effects on cash flow

What are the effects on cash flow, if variable costs increase to 55% of sales? (Input the amount as positive value. Enter your answer in dollars)

  Estimated residual value of the equipment

A company paid $515,000 to purchase equipment. Commercial use of the equipment began on July 1, year1. The estimated residual value of the equipment is $5,000. The equipment is expected to be used a total of 50,000 hours throughout its estimated usef..

  Compute mccoy 2010 earnings per share

McCoy Corporation has outstanding at December 31, 2010, 50,000 shares of $20 par value, cumulative, 8% preferred stock and 200,000 shares of $5 par value common stock. All shares were outstanding the entire year.

  Dividing partnership income

Morrison and Amato have decided to form a partnership. They have agreed that Morrison is to invest $150,000 and that Amato is to invest $50,000. Morrison is to devote one-half time to the business and Amato is to devote full time. The following plans..

  Find what is the book value per share

If Dudley Hill Golf Club's common stock is currently selling at $15.00 per share, what is the book value per share? Dudley Hill Golf Club's market-to-book

  What was the companys days outstanding in inventory

Eastern company had average inventory for year of 640,000 and inventory turnover ratio of 10.8. What was the company's days outstanding in inventory

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd