Apple has decided to start issuing bonds (debt) today, totaling $20,000,000. They are going to pay...
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Apple has decided to start issuing bonds (debt) today, totaling $20,000,000. They are going to pay this debt back in three payments across the next 12 years. The first payment will be in year 4 for $6,000,000. The second payment will be in year 9 for 9,000,000. Their final payment will occur in year 12: what will be the amount of the payment in year 12, assuming that Apple must pay 8% interest on their debt? Apple has decided to start issuing bonds (debt) today, totaling $20,000,000. They are going to pay this debt back in three payments across the next 12 years. The first payment will be in year 4 for $6,000,000. The second payment will be in year 9 for 9,000,000. Their final payment will occur in year 12: what will be the amount of the payment in year 12, assuming that Apple must pay 8% interest on their debt?
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To calculate the final payment in year 12 we need to first find the present va... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date:
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