Mann Co. is preparing an Excel spreadsheet for Its 5-year, 6%, $400,000 installment notes. The notes...
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Mann Co. is preparing an Excel spreadsheet for Its 5-year, 6%, $400,000 installment notes. The notes were issued on January 1 for $421,236. Installment payments are payable each December 31. A portion of the spreadsheet appears as follows: A Period 0 1 2 B Effective rate: Cash payments: Term to maturity in years: Cash Payment C 0.06 100,000 5 Interest Expense D Change in Balance E Outstanding Balance What formula should Mann use in cell E8 to calculate the outstanding balance (book value) of the notes after the second interest payment? Mann Co. is preparing an Excel spreadsheet for Its 5-year, 6%, $400,000 installment notes. The notes were issued on January 1 for $421,236. Installment payments are payable each December 31. A portion of the spreadsheet appears as follows: A Period 0 1 2 B Effective rate: Cash payments: Term to maturity in years: Cash Payment C 0.06 100,000 5 Interest Expense D Change in Balance E Outstanding Balance What formula should Mann use in cell E8 to calculate the outstanding balance (book value) of the notes after the second interest payment?
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Mann should use the formula in cell E8 to calculate the outstanding balance book value of ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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