George Clooney buys a motorbike costing £8,000. If he depreciates the motorbike using the reducing balance method and the fixed rate for the reducing balance method calculated as 25%. What will be its carrying amount (i.e. net book value) in the balance sheet at the end of year 3? Select one: O a. £1,125 O b. £4,500 O c. £3,375 O d. £2,000
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- NOTE: SHOW YOUR SOLUTION PROPERLY. Charles needs 12 years in order to recover all the costs of her investment in his company. If he invested a total of P 9.5M with the annual depreciation of P 0.19M. If the monthly expenses is P 0.44M, what is the annual income? Round your answer to the nearest hundredths (2 decimal places). Ans. P 5.88M1. Grace bought an entertainment system from a merchant who offers P25,000 at the end of 60 days. She wishes to pay immediately and the merchant offers to compute the required amount on the assumption that money is worth 24% simple interest. A. P 24038.46 B. P 22038.46 C. P 21038.46 D. P 23038.46Three friends buy a secondhand equipment that costs P120,000.00. They pay P40,000.00 down and the balance in 24 monthly payments. If the interest rate is 6% converted monthly, find the payments due at the end of each month. Select one: O a. P9,561.48 O b. P3,545.65 O c. P1,772.82 d. No answer O e. P5,318.47
- A house costs Php 2 500 000 cash. A purchaser will pay Php 1 200 000 cash and a sequence of 8 equal annual payments, the first due at the end of 3 years. If money is worth 7 % , find the annual payment. a. Php 371 811 b. Php 249 254 c. Php 155 286 d. Php 489 16650. If John purchases a new car for $18,500 and, according to research, itstraight line depreciates to zero value after 10 years, how much will his car beworth after 99 months? A. $0B. $3,237.50C. $186.87D. $3,150.25Assume you have £300,000 worth of assets (W). This includes savings, property and your car. You use the car to drive to school/university every day and there is a 1 in 20 (or 5 per cent) chance per year that you will be involved in an accident that results in the car being a write-off. Assume its market value is £40,000 and remains the same i.e. it does not depreciate. You can take out a full insurance policy for the year that pays out the full £40,000 market value of the car if you have the accident. Assume the insurance company has many customers with exactly the same assets as you and who all face the same risk of being involved in a similar accident. What is the expected value of taking the gamble i.e. not buying the insurance policy?
- Robin Williams has just purchased some equipment for his business. For this equipment he must pay the following amounts at the end of each of the next 5 yrs: $10,900, $7,790, $9,760, $12,190, & $11,070 If the appropriate discount rate is 7.265%, what is the cost in todays dollars of the equipment Mr. Williams purchased today? (Do not round factos values. Round final answer 2 decimal places) Present value $_____You have just purchased a new car! You made a down payment of $5,000 and financed the balance. According to the purchase agreement, you must pay $600/month for four years, beginning one month from today. The credit agreement is based on an annual interest rate of 12%. What was the cost of the car? Select one: O a. 6,822 O b. 22,784 с.27 ,784 d. 28,800 e. None of the above OYou take out an $19,000.00 car loan that calls for 48 monthly payments at an APR of 6.7%. Complete an amortization table and answer the following questions. You must complete the amortization table to answer the questions (otherwise your answers could be off due to rounding error... all totals are based on intermediate numbers that have not been rounded). The answer you enter must be rounded (correctly) to two decimal places. You do not need to include commas or dollar signs in your answer. For example, the end balance after 41 months would be entered as 3096.82. What is the total amount you paid on the loan?
- You take out an $19,000.00 car loan that calls for 48 monthly payments at an APR of 6.7%. Complete an amortization table and answer the following questions. You must complete the amortization table to answer the questions (otherwise your answers could be off due to rounding error... all totals are based on intermediate numbers that have not been rounded). The answer you enter must be rounded (correctly) to two decimal places. You do not need to include commas or dollar signs in your answer. For example, the end balance after 41 months would be entered as 3096.82. What is the total interest paid on the loan?Jose borrows P5000 from a lending company for 5 years at 15%. At the end of the 5ft year, he renews the loan for the amount due and another P10,000 more for 3 years at 12%. What is the lump sum due? (You are expected to draw the Cash Flow Diagram in the solution). Follow this solution format: Given: Required: Solution:2. Jason Bradley decided to buy a home for $271,000. His bank requires a 25% down payment. His attorney, has notified Jason that besides the 25% down payment there will be the following additional costs: Recording of the deed $266.00 A credit and appraisal report 1521.00 Preparation of appropriate documents 444.00 In addition, there will be a transfer tax of 1.5% of the purchase price and a loan origination fee of 3% of the mortgage amount. Assume a 30-year mortgage at a rate of 9.5%. a. What is the initial amount of cash Jason will need? (Do not round intermediate calculations. Round your answer to the nearest cent.) b. What is his monthly payment? c. What is the total cost of interest over the life of the mortgage? (Use the amortization worksheet in the financial calculator.