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What is the amount of cash that Wasp receives today

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Question - Describe the recording procedures for the issuance, retirement, and paying of interest for installment notes.

Wasp Corporation has a loan agreement that provides it with cash today, and the company must pay $25,000 one year from today, $15,000 two years from today, and $5,000 three years from today. Wasp agrees to pay 10% interest. Using excel compute the present value. Reminder steps are below:

1. Get into excel and go to ?x.

2. Make category financial.

3. In the rate box put the percentage in decimal format.

4. In the Nper (number of periods) put in the year criteria.

5. Pmt is the amount {to get rid of the negative you can make this a negative which will cancel it out.

6. The rest can be blank.

What is the amount of cash that Wasp receives today?

Reference no: EM132479261

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