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- XYZ Construction Inc. wants to purchase a new pick-up truck. The price for the new truck is $43,040. The dealer allows XYZ to trade-in the old truck for $7,162. XYZ can payback the remaining balance through a 4-year payment plan. Given the agreed interest rate is 3%: How much is the monthly payment?A buyer is considering purchasing a 10-acre parcel in Peoria, Arizona for economic development. The parcel has a sales price of $720,000. The buyer agrees with the seller for purchasing the property with 15% down up front and paying off the balance in 12-months. If a bank is willing to provide 3% annual interest, compounded monthly, how much should the monthly deposit be into that account to pay off the desired balance to the seller?An private firm can buy a machine for $ 40,000. A down payment of $ 4,000 is required and the balance can be paid in equal terms of 5 years at 6% interest on the unpaid balance. As an alternative the machine can be purchased for $ 36,000 in cash. If the firm's MARR is 15%, determine which of the alternatives should be accepted using the annual equivalency method. Set the Equivalent Annuity for option 1 Set the Equivalent Annuity for option 2 Establish the conclusion as to the option to be selected.
- Bramble Corp. is purchasing new equipment with a cash cost of $312000 for an assembly line. The manufacturer has offered to accept $67900 payment at the end of each of the next six years. How much interest will Bramble Corp. pay over the term of the loan? O $95400. O $312000. O $67900. O $407400.A certain piece of equipment has a list price of $120,000. The manufacturer offers two options for paying for the equipment. Option A: An initial down payment of $20,000 plus additional payments of $20,000 per year at the end of each of the next six years.Option B: A single payment of $108,000 at the time of purchase (i.e., a 10% discount for paying in cash).(a) What annual interest rate would you be paying if you selected Option A? (b) What is the implicit annual interest rate associated with the financing offered in Option A when compared against the discount offered in Option B?A manufacturer needs to borrow money to purchase a building. The purchase price of thebuilding is $1.5 million, and the company will put $300,000 in cash down at closing. If thecompany can borrow the difference from its bank at 4.85% for 20 years, what will the monthlyprincipal and interest payment of the loan be? Create an amortization schedule also.
- I request to you d,nt use excel to solve.only typed answer gives. Q)A construction company has an option to purchase a certain machine for $60,000 at any time between Now and 6 years from now. If the company plans to purchase the machine 6 years from now , the equivalent present amount that the company is paying for the machine at 10 % per year interest is closest toA company decides to borrow $100 000 at j1 = 12% in order to finance a new equipment purchase. One of the conditions of the loan is that the company must make annual payments into a sinking fund (the sinking fund will be used to pay off the loan at the end of 20 years). The sinking-fund investment will earn j1 = 6%. (Do not round intermediate calculations. Round your answers to 2 decimal places.) a) What is the amount of each sinking-fund payment if they are all to be equal? Amount of each sinking-fund 2$ b) What is the total annual cost of the loan? Total annual cost c) What overall annual effective compound interest rate is the company paying to borrow the $100 000 when account is taken of the sinking-fund requirement? Compound interest rate %A manufacturing firm purchased a heavy duty drilling machine. They were given two payment options: Option 1: Make a payment of $41,500 immediately to settle the invoice for the machine. Option 2: Make a payment of $22,500 immediately and the balance of $23,550 in 3 months to settle the invoice. If money is worth 4.12% compounded quarterly, answer the following: a. What is the total present value of Option 2? Round to the nearest cent b. Which option is economically better for the manufacturing firm? O Option 1 O Option 2
- You have just purchased a new warehouse. To finance the purchase, you've arranged fora 38-year mortgage loan for 70 percent of the $3,380,000 purchase price. The monthlypayment on this loan will be $17,100. a. What is the APR on this loan? (Do not round intermediate calculations and enteryour answer as a percent rounded to 2 decimal places, e.g., 32.16.)b. What is the EAR on this loan? (Do not round intermediate calculations and enteryour answer as a percent rounded to 2 decimal places, e.g., 32.16.)LEW Company purchased a machine at a price of $100,000 by signing a note payable, which requires a single payment of $123,210 in two years. a. Assuming annual compounding of interest, what rate of interest is being paid on the loan? Use Excel function Rate to calculate the rate. b. What would be the purchase price of the machine had LEW negotiated a single payment of $120,000 in two years, using the same effective rate? Use excel only..Milan plans to purchase a new work truck. The dealer requires a 10% down payment on the s36,000 vehicle. Milan will finance the rest of the cost with a fixed-rate amortized auto loạn at 9% annual interest with monthly payments over 5 years. Complete the parts below. Do not round any intermediate computations Round your final answers to the nearest cent if necessary. If necessary, refer to the list of financial formulas. (a) Find the required down payment. (b) Find the amount of the auto loan. (c) Find the monthly payment.