Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kim recently purchased a spa business valued at $1

Kim recently purchased a spa business valued at $120,000 in New Westminster, BC. She made...

60.1K

Verified Solution

Question

Accounting

Kim recently purchased a spa business valued at $120,000 in New Westminster, BC. She made 25% down and end-of-month payments of $2500. Interest on the business loan is 6% compounded quarterly. How much did Kim finance?

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

Biology
1.2K views

In which biome will you only find plants growing close to the ground to utilize...

Finance
1.2K views

Discuss the conditions under which investors would prefer to hold short-term bonds and when they would...

Finance
1.2K views

Investors got a rude awakening yesterday as U.S. stocks started the day with declines. An acceleration...

Geometry
1.2K views

Learning Math Reveal Math 8th grade Q 17 Transversals of parallel lines LN and OQ...

Basic Math
1.2K views

Flexible Budgeting At the beginning of the period the Fabricating Department budgeted direct labor of...

Accounting
1.2K views

What kind of a costing system should the following businesses have? State two reasons supporting...

Accounting
1.2K views

18. Geofencing is: Ecofriendly fences for cattle ranches. Special fences that transmit location of...

Accounting
1.2K views

The following data were gathered to use in reconciling the bank...

Accounting
1.2K views

A promissory note involves a maker, payee, and principal. explain what each is.

Accounting
1.2K views

Activity Rates and Product Costs using Activity-Based Costing \table[[Activity,\table[[Budgeted],[Activity Cost]],Activity Base],[Casting,$310,720,Mactine hours],[Assembly,210,330,Direct labor...

Accounting
1.2K views

An investor would like to purchase a new apartment property for $2.2 million. However, she...

Accounting
1.2K views

Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company...