Question: Part a is correct but for part b i put 89.89 and it was incorrect to use Excel if noeded. If you want, you may

Part a is correct but for part b i put 89.89 and it was incorrect
Part a is correct but for part b i put 89.89 and

to use Excel if noeded. If you want, you may use the above spreadsheet for your computations. It does not have copy and paste feature, just type, and calculate. Question 1 Rotaken 6/12 points On May 1st, Alpha Company purchased a truck for $24,000 plus 8% sales taxes. Paid $2,000 in cash as down payment and signed a 5% note for remaining that requires 10 payments at the end of each month for ten months. a. Compute the amount of monthly payment (box 1) Example of Answer: 875.20 Two decimal points. No comma, space, or $ sign. 2447.16 b. Total amount of interest paid on purchase of this equipment (box 2) Example of Answer: 875.20 Two decimal points. No comma, space, or $ sign

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!