On April 1, 2016, John Vaughn purchased appliances from the Acme Appliance Company for $1,200. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments, beginning October 1, 2016. The annual interest rate implicit in this agreement is 24%.Calculate the monthly payment necessary for John to pay for his purchases.

On April 1, 2024, Antonio purchased appliances from the Acme Appliance Company for $2,100. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. Antonio will make 18 equal monthly payments, beginning October 1, 2024. The annual interest rate implicit in this agreement is 24%. Required: Calculate the monthly payment necessary for Antonio to pay for his purchases. Note: Use tables, Excel, or a financial calculator. Do not round Intermediate calculations. Round your final answers to nearest whole dollar amount. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) Monthly payment

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On April 19, 2018, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $120,000 in five years. The applicable effective interest rate is 7%. What amount of sales revenue wouldMillipede recognize on April 19, 2018, for the Hartwood transaction?

Parker Young recently received his monthly MasterCard bill for the period June 1-30, 2017, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 19% per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows: Previous balance: $256       Purchases:     Payments:   June 4 $117   June 21 $35 June 12 $79       June 20 $92       June 26 $72       What is his ADB for the period? (Use a table like the one in Exhibit 6.8 for your calculations.) Do not round intermediate calculations. Round the answer to 2 decimal places. What is his the finance charge for the period? (Use a table like the one in Exhibit 6.8 for your calculations.) Do not round intermediate calculations. Round the answer to 2 decimal places.

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On January 1, 2006, Mr. Jones took out a loan amounting to $10,000. He then made annual repayments of $1,000 on the first day of 2007, 2008, and 2009. Additionally, on July 1, 2009, he made an extra payment of $5,000 and ceased any further repayments. Assuming the quarterly discount rate is 8%, calculate the remaining balance of Mr. Jones's loan as of January 1, 2015.

Haatim opened an RRSP deposit account on December 1, 2008, with a deposit of $2500. He added $2500 on October 1, 2010, and $2500 on February 1, 2012. How much is in his account on January 1, 2016, if the deposit earns 7.8% p.a. compounded monthly?

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Blake Miller recently received his monthly MasterCard bill for the period June 1-30, 2021, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 23 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows: Previous Balance: $303       Purchases:     Payments:   June 4 $111   June 21 $35 June 12 $45       June 20 $127       June 26 $43         What are his ADB and finance charges for the period? (Use a table like the one in Exhibit 6.7 for your calculations.) Round the answers to the nearest cent. ADB:                  $   Finance charges: $