Canliss Mining Company borrowed money from a local bank. Thenote the company signed requires five annual installment paymentsof $16,000 beginning immediately. The interest rate on the note is6%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVADof $1) (Use appropriate factor(s) from the tables provided.) Whatamount did Canliss borrow?
Canliss Mining Company borrowed money from a local bank. Thenote the company signed requires five annual installment paymentsof $16,000 beginning immediately. The interest rate on the note is6%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVADof $1) (Use appropriate factor(s) from the tables provided.) Whatamount did Canliss borrow?
Related questions
| A company issued 8%, 10-year bonds with a face amount of $100million. The market yield for bonds of similar risk and maturity is6%. Interest is paid semiannually. At what price did the bondssell? (FV of $1, PV of $1,FVA of $1, PVA of $1, FVAD of $1 and PVADof $1) (Use appropriate factor(s) from the tablesprovided
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A company issued 4%, 10-year bonds with a face amount of $78million. The market yield for bonds of similar risk and maturity is5%. Interest is paid semiannually. At what price did the bondssell? (FV of $1,PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVADof $1) (Use appropriate factor(s) from the tables provided.Enter your answers in whole dollars.)
| Table values are based on | ||
|---|---|---|
| n= | X | |
| i= | X | |
| Cashflow | Amount | Present value |
| Interest | X | X |
| Principle | X | X |
| Price of bonds | X |
