User Account

All Pages

What is the amount of the second payment

Assignment Help Financial Accounting
Reference no: EM132969526

Question - Darwin is a young entrepreneur trying to keep his business afloat. He has missed two payments to a creditor. The first was for $3,485 seven months ago and the second was for $5,320 last month. Darwin has had discussions with his creditor, who is willing to accept $4,000 one month from now and a second payment in full six months from now. If the agreed upon interest rate is 7.35% compounded monthly, what is the amount of the second payment?

Reference no: EM132969526

Questions Cloud

What is appropriate value for one share of jd spirits today : JD Spirits Inc stock is a growing company. What is the appropriate value for 1 share of JD Spirits today if the required rate of return is 12%.
Is it better to lease or borrow and purchase the equipment : If ABC depreciates this equipment on a straight-line basis over the next 5 years, is it better to lease or borrow and purchase the equipment
How sensitive operating cash flow is to sales : The CEO is concerned with the Sales departments projections and would like to know how sensitive Operating Cash Flow is to sales.
Calculate the weighted average cost of capital for lowes : Calculate the Weighted Average Cost of Capital for Lowes (LOW) using the data available on Yahoo Finance and the slide deck (slides 20 &21).
What is the amount of the second payment : If the agreed upon interest rate is 7.35% compounded monthly, what is the amount of the second payment
What is npv of the project for skateboard sharing company : The units have a variable cost of $22 and has fixed costs of $130,000 annually. The tax rate is 21% and cost of capital is 18%. What is the NPV of the project?
What is the estimated dollar cash inflows of patton : Today's spot rate of NZ$ is $.52. A put option on NZ$ exists with an exercise price of $.54, What is the estimated dollar cash inflows of Patton
Compare the dollar value of payments made by the two debtors : Compare the dollar value of payments made by the two debtors. FINCORP has two debtors who each make a $10, 000 purchase. Debtor 1 pays their account in 10 days
What is the debit to cost of goods sold : Hendrickson Inc Purchased $10,275 of inventory from its manufacturer. It went on to sell half of this inventory for $13,548. What is debit to cost of goods sold

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is equivalent units of production used to compute unit

Department W had 2,400 units, one-third completed at the beginning of the period; 16,000 units were transferred to Department X from Department W during the period; and 1,800 units were one-half completed at the end of the period. Assume the completi..

  Describe the indian reaction to europeans

Describe the Indian reaction to Europeans. According to the documents, what is the Indian response to Europeans? In what ways do Indians interact with Europeans

  What approach to budgeting are you using

You are planning your expenditures for the upcoming school semester. You assume that this year's expenditures will equal last year's plus 2%. What approach to budgeting are you using?

  Process costing

Tempe Manufacturing Company makes a single product that is produced on a continuous basis in one department. All materials are added at the beginning of production. The total cost per equivalent unit in process in March 2009 was $4.60, consisting of ..

  Counsel on potential expansion of business activity plans

Perez, CPA, has been asked by a nonpublic company audit entity to perform a nonrecurring engagement involving implementing an IT information and control system. The entity requests that, in setting up the new system and during the period prior to con..

  What is butchers warranty expense for year four

Butcher Co. sold 10,000 toys in Year4 for $20 each. The company expects that 5% of the toys will be returned under warranty for a refund of the sales price in the 2-year warranty period. There were $6,000 of warranty obligations paid in cash during Y..

  Find lower-of-costor-market valuation for sadowski inventory

Compute the lower-of-cost-or-market valuation for Sadowski inventory. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

  What is the probability that a random sample of two cards

What is the probability that a random sample of two cards on this highway have a mean speed less than 100 km/hr

  What is the cost of forgoing the discount and paying on day

A supplier allows customers a credit period, What is the cost of forgoing the discount and paying on day 21, expressed as an annualised interest rate (i.e.EAR)?

  Question given are pre-acquisition financial balances for

question given are pre-acquisition financial balances for padre company and sol company as of december 31. also

  Why is important for business managers to be familiar

Why is it important for business managers to be familiar with the time value of money concepts? Why do we say money has time value?

  Prepare the journal entry to record transaction on january

Prepare the journal entry to record this transaction on January 2, 2020, and on December 31, 2020 (assuming financial statements are prepared on December)

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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