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...

60.1K

Verified Solution

Question

Accounting

Answer asap showing all steps please. image
A contract between two parties (company C \& D) was created such that in return for services rendered, company C could have two options for repayment. Option 1 would have payments of $10,000 in quarter 4 , $20,000 in quarter 8 , and $30,000 in quarter 12 . Alternatively, under Option 2, Company C could pay two equal amounts now and in quarter 12 . If interest on the contract is 8.2% compounded monthly, 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 \$1,234.56

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