Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer asap showing all steps please. a contrac

Answer asap showing all steps please. A contract between two parties (company...

50.1K

Verified Solution

Question

Accounting

Answer asap showing all steps please. image
A contract between two parties (company X&Y ) was created such that in return for services rendered, company X would provide payments of $15,000 in 8 months, $35,000 in 16 months, and $40,000 in 24 months. However, a clause was inserted in the contract that allowed company X to pay two equal lump sum payments in months 30 and 36 . If interest on the contract is 6.5% compounded annually, determine the value of the lump sum payments that should be written in the contract. When entering your answer, round your values to two decimal places, and use a \$ symbol as well as the correct comma separator. For example $12,345.67

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

In the reaction of gaseous N2O5 to yield NO2 gas and O2 gas as shown below...

Chemistry
1.2K views

Describe and justify the optimal type/amount of carbohydrate consumption for various times related to exercise (pre-, during-,...

Chemistry
1.2K views

If a gas mixture at 298 K, which contains 90% N2, 5% H2O, and 5% O2,...

Accounting
1.2K views

Classify each transaction as either a(n)operating activity, investing activity, financing activity, or non-cash investing and financing activity by placing...

Geometry
1.2K views

Evaluating Exponential Functions In 2014 Staci invested $13,500 in a savings account for her newborn...

Basic Math
1.2K views

Alex needs to make a repair. The part costs $430 and labor is 4 hours...

Accounting
1.2K views

Determine the missing items. 69 $ Assets $85,800 $84,800 69 $ Liabilities $52,400 $28,400 +...

Accounting
1.2K views

Assume Marigold Corp. deposits $90000 with First National Bank in an account earning interest at...

Accounting
1.2K views

C K B Feb 12 Feb 23 Feb 25 D E F G H Received...

Accounting
1.2K views

Class PEx Keating X M MHE R X The SalX 2 and a X MInbox...

Accounting
1.2K views

Financial statements of ABC Corp, indicates that ending inventory levels in 20X3 and 20X4 were...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] On January 1. 2021,...