Question: Question 9 1 pts This is the same information from questions 6 - 8: A company decided to finance the purchase of truck. The loan
Question 9 1 pts This is the same information from questions 6 - 8: A company decided to finance the purchase of truck. The loan agreement requires quarterly payments of $850/each for 3 years. The interest rate on the loan is 8%. No amount was due in cash at the time of signing and the first payment of $850 is due three months (one quarter) after the signing date. How much did the truck cost? What would be the amount for which you would debit PP&E and credit Notes Payable? Remember, this amount has to EXCLUDE any future interest expense! So, it should be the present value of the payments to be made on the Ioan. No commas, no dollar sign, no decimals. Please round up to the nearest whole dollar if your answer has a decimal of 50 or higher; and round down if your answer has a decimal of .49 or lower
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