Exercise B-9 (Algo) Present value of an annuity LO P3 Dave Krug finances a new automobile by paying $7,100 cash and agreeing to make 20 monthly payments of $410 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of \$1, FV of \$1, PVA of \$1, and FVA of \$1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Spiller Corporation plans to issue 10%,6-year, $580,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of \$1, FV of \$1, PVA of \$1, and FVA of \$1) Note: Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar. If the market rate of interest for the bonds is 8% on the date of issue, what will be the total cash proceeds from the bond issue
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