Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. part a is correct but for part b i put 89.89 and i

Part a is correct but for part b i put 89.89 and it was incorrect...

90.2K

Verified Solution

Question

Accounting

Part a is correct but for part b i put 89.89 and it was incorrect
image
to use Excel if noeded. If you want, you may use the above spreadsheet for your computations. It does not have copy and paste feature, just type, and calculate. Question 1 Rotaken 6/12 points On May 1st, Alpha Company purchased a truck for $24,000 plus 8% sales taxes. Paid $2,000 in cash as down payment and signed a 5% note for remaining that requires 10 payments at the end of each month for ten months. a. Compute the amount of monthly payment (box 1) Example of Answer: 875.20 Two decimal points. No comma, space, or $ sign. 2447.16 b. Total amount of interest paid on purchase of this equipment (box 2) Example of Answer: 875.20 Two decimal points. No comma, space, or $ sign

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