Question: show work * Your answer is incorrect. Whispering Inc. Ioans money to John Kruk Corporation in the amount of $640,000. Whispering accepts an 8% note

show work

* Your answer is incorrect. Whispering Inc. Ioans money to John Kruk Corporation in the amount of $640,000. Whispering accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years) Whispering needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of 10% compounded semiannually. What is the amount Whispering will receive on the sale of the note? (Round factor values to 5 decimal places, e 3. 1.25124 and final answer to 0 decimal places, s. 458,581.) Amount received on sale of note 800972 TABLE 6.4 Present Value of an Ordinary Annuity of 1 1 - PVF-OA 1 (1 + i)" i n/ 3% (n) Periods 1 2 3 4 5 2% .98039 1.94156 2.88388 3.80773 4.71346 27% .97561 1.92742 2.85602 3.76197 4.64583 97087 1.91347 2.82861 3.71710 4.57971 4% .96154 1.88609 2.77509 3.62990 4.45182 5% .95238 1.85941 2.72325 3.54595 4.32948 6% .94340 1.83339 2.67301 3.46511 4.21236 6 7 8 9 10 5.60143 6.47199 7.32548 8.16224 8.98259 5.50813 6.34939 7.17014 7.97087 8.75206 5.41719 6.23028 7.01969 7.78611 8.53020 5.24214 6.00205 6.73274 7.43533 8.11090 5.07569 5.78637 6.46321 7.10782 7.72173 4.91732 5.58238 6.20979 6.80169 7.36009 11 12 13 9.78685 10.57534 11.34837 12.10625 12.84926 9.51421 10.25776 10.98319 11.69091 12.38138 9.25262 9.95400 10.63496 11.29607 11.93794 14 8.76048 9.38507 9.98565 10.56312 11.11839 8.30641 8.86325 9.39357 9.89864 10.37966 7.88687 8.38384 8.85268 9.29498 9.71225 15 16 17 18 19 20 13.57771 14.29187 14.99203 15.67846 16.35143 13.05500 13.71220 14.35336 14.97889 15.58916 12.56110 13.16612 13.75351 14.32380 14.87747 11.65230 12,16567 12.65930 13.13394 13.59033 10.83777 11.27407 I 11.68959 12.08532 12.46221 10.10590 10.47726 10.82760 11.15812 11.46992 21 22 23 24 25 17.01121 17.65805 18.29220 18.91393 19.52346 16.18455 16.76541 17.33211 17.88499 18.42438 15.41502 15.93692 16.44361 16.93554 17.41315 14.02916 14.45112 14.85684 15.24696 15,62208 12.82115 13.16300 13.48857 13.79864 14.09394 11.76408 12.04158 12.30338 12.55036 12.78336 26 27 28 29 30 20.12104 20.70690 21.28127 21.84438 22.39646 18.95061 19.46401 19.96489 20.45355 20.93029 17.87684 18.32703 18.76411 19.18845 19.60044 15.98277 16.32959 16.66306 16.98371 17.29203 14.37519 14.64303 14.89813 15.14107 15.37245 13.00317 13.21053 13.40616 13.59072 13 7RARS

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!

In Problems 5-17 and 5-18. three different forecasts were developed for the demand for fertilizer. These three forecasts are a 3-year moving average, a weighted moving average, and a trend line....

(c) X Your answer is incorrect. Blue Inc. loans money to John Kruk Corporation in the amount of $720,000. Blue accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and...

Nash Inc. has $532,750 to invest. The company is trying to decide between two alternative uses of the funds. One alternative provides $70,693 at the end of each year for 12 years, and the other is to...

a) Alan Hitchcock is 37 years old today and he wishes to accumulate $543,000 by his 58 th birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by...

Whispering Inc. loans money to John Kruk Corporation in the amount of $848,000. Whispering accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest...

Buffalo Inc. Ioans money to John Kruk Corporation in the amount of $880,000. Buffalo accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2...

Thanks in advance! Concord Inc. Ioans money to John Kruk Corporation in the amount of $752,000. Concord accepts an 8% note due in 7 years with interest payable semiannually. After 2 years and receipt...

I'm gonna be honest I didnt understand the work used to get this answer can someone explain it to me, just to add on I use interest rate tables so if someone can explain it using those I would...

Hello, I study accounting and I have couple practice questions to be answered. I would appreciate it if you could check and let me know if you could help me out on these and I have more. I look...

Problem 6-7 Answer the following questions related to Tamarisk Inc. Click here to view factor tables Tamarisk Inc. has $496,430 to invest. The company is trying to decide between two alternative uses...

Tamarisk Inc. loans money to John Kruk Corporation in the amount of $928,000. Tamarisk accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for...

Adria Lopez, owner of Success Systems, decides to prepare a statement of cash flows for her business. (Although the serial problem allowed for various ownership changes in earlier chapters, we will...

The present price of a stock without dividends is 250 GBP. The market value of a European call with a strike price of 235 GBP and time to maturity of 180 days is 21.88 GBP. The annual risk-free rate...

Suppose that, on day t - 1 after 4 pm , several large stocks including stock A announce much worse earnings than market participants expected. On day t after 4 pm , stock B is scheduled to report...

Widgets R US Corp. Master Budget 2019 Sales Budget (Part 1) Data Input Q1 az Q3 Year Unit Sales Sales Price $380.00 65.000 $380 00 $24,700,000.00 60,000 $380.00 $22.800,000.00 75.000 $380.00...