FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Present Value
Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. …
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In cell B12, create a formula using the PMT function to calculate the monthly payments for loan Option A. Use the values in cells B8, B10, and B5 for the Rate, Nper, and Pv arguments, respectively, and do not enter any values for the optional arguments. Copy the formula you created in cell B12 into the range C12:D12.

Inception Workspace Business Loan Request Loan Amount Annual Interest Rate Payments per Year Interest Rate per Period Number of Years Total Payments Monthly Payments Annual Payments Option A $ $ Option B Option C 300,000 $ 300,000 $ 350,000 8.00% 6.57% 5.99% 12 12 0.67% 10 120 $ 0.55% 15 180 $ 12 0.50% 20 240
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Transcribed Image Text:Inception Workspace Business Loan Request Loan Amount Annual Interest Rate Payments per Year Interest Rate per Period Number of Years Total Payments Monthly Payments Annual Payments Option A $ $ Option B Option C 300,000 $ 300,000 $ 350,000 8.00% 6.57% 5.99% 12 12 0.67% 10 120 $ 0.55% 15 180 $ 12 0.50% 20 240
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