Ms. Cents is buying a 25% interest in an accounting partnership by end-of-month payments of $537.66, including

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Ms. Cents is buying a 25% interest in an accounting partnership by end-of-month payments of $537.66, including interest at 8% compounded semiannually, for 12 years.

a)What valuation was placed on the partnership at the beginning of the payments? (Round to the nearest $100,000)

b)What total amount of interest will she pay over the 12 years? (Round to the nearest dollar)

Related Book For answer-question

Advanced Financial Accounting

ISBN: 978-0078025624

10th edition

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

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Posted Date: Apr 07, 2021 09:45 AM

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Ms. Cents is buying a 25% interest in an accounting partnership by end-of-month payments of $537.66, including

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Interest Rate for Semiannual Period 8 2 4 Annual Effective Interest rate 1 00... View the full answer

Advanced Financial Accounting

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