# Edit A B D E F G Hatch Fly fishing Company wants to buy a fleet...

Edit A B D E F G Hatch Fly fishing Company wants to buy a fleet of 10 fishing rafts from Rocky Mountain Rafts. Rocky Mountain Rafts agrees to sell the rafts to Hatch in exchange for \$3,500 cash and a \$25,000 note that would be payable in monthly installments for 15 months. The rate of interest on the note is 9%. 2 3 Required: Part 1 4 5 Part 2 Part 3 Calculate the amount of Hatch's monthly payment. The first payment is scheduled for April 30, 2019. Use the PMT function in Excel. Prepare an amortization schedule in Excel for the 15 month loan. Prepare journal entries to record: 1) The purchase of the rafts on April 1, 2019 2) The first payment on April 30, 2019 3) The second payment on May 31, 2019 6 7 8 Part 1 9 Calculate the monthly payment 10 11 12 13 Amortization Table 15 Part 2 16 Period Ending Date Beginning Balance Debit Interest Expense Debit Notes Payable Credit Cash Ending Balance 17 18 19 20 21 1 2 3 4 5 6 23 24 25 7 8 9 26 10 e problem CH. 13 Excel Wort ICH.
D Part 2 Amortization Table G H Period Ending Date 7 Beginning Balance Debit Interest Expense Credit Debit Notes Payable Cash Ending Balance 1 2 3 4 + 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 Part 3 35 36 37 5 6 7 8 9 10 11 12 13 14 15 Journal Entries 39 40 41 44 26 47
B-10 Appendix B Time Value of Money TABLE B.1" p=1/(1+i)" Present Value of 1 Rate Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 15% Periods 1 0.9901 0.9804 0.9709 0.9615 0.9524 2 0.9803 0.9612 0.9426 0.9246 0.9070 3 0.9706 0.9423 0.9151 0.8890 0.8638 4 0.9610 0.9238 0.8885 0.8548 0.8227 5 0.9515 0.9057 0.8626 0.8219 0.7835 6 0.9420 0.8880 0.8375 0.7903 0.7462 7 0.9327 0.8706 0.8131 0.7599 0.7107 8 0.9235 0.8535 0.7894 0.7307 0.6768 9 0.9143 0.8368 0.7664 0.7026 0.6446 10 0.9053 0.8203 0.7441 0.6756 0.6139 11 0.8963 0.8043 0.7224 0.6496 0.5847 12 0.8874 0.7885 0.7014 0.6246 0.5568 13 0.8787 0.7730 0.6810 0.6006 0.5303 14 0.8700 0.7579 0.6611 0.5775 0.5051 15 0.8613 0.7430 0.6419 0.5553 0.4810 16 0.8528 0.7284 0.6232 0.5339 0.4581 12 0.8444 0.7142 0.6050 0.5134 0.4363 18 0.8360 0.7002 0.5874 0.4936 0.4155 19 0.8277 0.6864 0.5703 0.4746 0.3957 20 0.8195 0.6730 0.5537 0.4564 0.3769 0.7798 0.6005 0.4776 0.3751 0.2953 30 0.7419 0.5521 0.4120 0.30B3 0.2314 35 0.7019 0.5000 0.3554 0.2534 0.1813 40 0.4529 0.3066 0.2083 0.1420 0.9434 0.8900 0.8396 0.7921 0.7473 0.7050 0.6651 0.6274 0.5919 0.5584 0.5268 0.4970 0.4688 0.4423 0.4173 0.3936 0.3714 0.3503 0.3305 0.3118 0.2330 0.1741 0.1301 00972 0.9346 0.8734 0.8163 0.7629 0.7130 0.6663 0.6227 0.5820 0.5439 0.5083 0.4751 0.4440 0.4150 0.3878 0.3624 0.3387 0.3166 0.2959 0.2765 0.2584 0.1842 0.1314 0.0937 0.0668 0.9259 0.8573 0.7938 0.7350 0.6806 0.6302 0.5835 0.5403 0.5002 0.4632 0.4289 0.3971 0.3677 0.3405 0.3152 0.2919 0.2703 0.2502 0.2317 0.2145 0.1400 0.0994 0.0676 0.0460 0.9174 0.9091 0.8929 0.8696 1 0.8417 0.8264 0.7972 0.7561 2 0.7722 0.7513 0.7118 0.6575 3 0.7084 0.6830 0.6355 0.5718 4 0.6499 0.6209 0.5674 0.4972 5 0.5963 0.5645 0.5066 0.4323 6 0.5470 0.5132 0.4523 0.3759 7 0.5019 0.4665 0.4039 0.3269 8 0.4604 0.4241 0.3606 0.2843 9 0.4224 0.3855 0.3220 0.2472 10 0.3875 0.3505 0.2875 0.2149 11 0.3555 0.3186 0.2567 0.1869 12 0.3262 0.2897 0.2292 0.1625 13 0.2992 0.2633 0.2016 0.1413 0.2745 0.2394 0.1827 0.1229 15 0.2519 0.2176 0.1631 0.1069 16 0.2311 0.1978 0.1456 0.0929 17 0.2120 0.1799 0.1300 0.0808 18 0.1965 0.1635 0.1161 0.0703 19 0.1784 0.1486 0.1037 0.0611 20 0.1160 0.0023 0.0588 0.0304 25 0.0754 0.0573 0.0334 0.0151 30 0.0490 00356 0.0189 0.0075 35 0.0318 0.0221 0.0107 0.0037 40 0.6717 Used to compute the prese value of new team. For example how much would you need to me lo comune semilly e cumul, in 6 years from y? Using the fact of 12 and 5*(12 maandamana of 5), the OSS. You will need to be 2.781 day (S.COX = (1 + i)" TABLE B.2 Future Value of 1 Rate 35 Periods
Appendix Time Value of Money B-11 p= (1 + i)" TABLE B.3 Present Value of an Annuity of 1 Rate Periods 1% 2% 3% * 5% 6% 7% 8% 9% 10% 12% 15% Periods 1 2 3 4 5 6 7 8 10 11 12 13 14 15 16 17 18 19 20 25 30 35 40 0.9901 0.9804 1.9704 1.9416 2.9410 2.8839 3.9020 3.8077 4.8534 4.7135 5.7955 5.6014 6.7282 6.4720 7.6517 7.3255 8.5660 8.1622 9.4713 8.9826 10.3676 9.7868 11.2551 10.5753 12.1337 11.3484 13.0037 12.1062 13.8551 12.8493 14,7179 13.5777 15.5623 14.2919 16.3983 14.9920 17.2260 15.6785 18.0456 16.3514 22.0232 19.5235 25.8077 22 3965 29.4086 24.9986 32.8347 27.3555 0.9709 1.9135 2.8286 3.7171 4.5797 5.4172 6.2303 7.0197 7.7861 8.5302 9.2526 9.9540 10.6350 11.2961 11.9379 12.5611 13.1661 13.7535 14.3238 14.8775 17.4131 19.6004 21.4872 23.1148 0.9615 1.8861 2.7751 3.6299 4.4518 5.2421 6.0021 6.7327 7.4353 8.1109 8.7505 9.3851 9.9856 10.5631 11.1184 11.6523 12.1657 12.6593 13.1339 13.5903 15.6221 17.2920 18.6646 19.7928 0.9524 1.8594 2.7232 3.5460 4.3295 5.0757 5.7864 6.4632 7.1078 7.7217 8.3064 8.8633 9.3935 9.8986 10.3797 10.8378 11.2741 11.6896 12.0853 12.4622 14.0939 15.3725 16.3742 17.1591 0.9434 1.8334 2.6730 3.4651 4.2124 4.9173 515824 6.2098 6.8017 7.3601 7.8869 8.3838 8.8527 9.2950 9.7122 10.1059 10.4773 10.8276 11.1581 11.4599 12.7834 13.7548 14.4982 15.0463 0.9346 0.9259 0.9174 0.9091 0.8929 0.8696 1 1.8080 1.7833 1.7591 1.7355 1.6901 1.6257 2 2.6243 2.5771 2.5313 24869 2.4018 2 2832 3 3.3872 3.3121 3.2397 3.1699 3.0373 2.8550 4 4.1002 3.9927 3.8897 3.7908 3.6048 3.3522 5 4.7555 4.6229 4.4859 4.3553 4.1114 3.7845 6 5.3893 5.2064 5.0330 4.8684 4.5638 4.1604 7 5.9713 5.7466 5.5348 5.3349 4.9676 4.4873 8 6.5152 6.2469 5.9952 5.7590 5.3282 47716 9 7.0236 6.7101 6.4177 6.1446 5.6502 5.0188 10 7.4987 7.1390 6.8052 6.4951 5.9377 5.2337 11 7.9427 7.5361 7.1607 6.8137 6.1944 5.4206 12 8.3577 7.9038 7.4869 7.1034 6.4235 5.5831 13 8.7455 8.2442 7.7862 7.3667 6.6282 5.7245 9.1079 8.5595 8.0607 7.6061 6.8109 5.8474 15 9.4466 8.8514 8.3126 7.8237 6.9740 5.9542 16 9.7632 9.1216 8.5436 8.0216 7.1196 6.0472 12 10.0591 9.3719 8.7556 8.2014 7.2497 6.1280 18 10.3356 9.6036 8.9501 8.3649 7.3658 6.1982 19 10.5900 9.8181 9.1285 8.5136 7.4694 6.2593 20 116535 10.6748 9.0770 7.8431 6.4641 25 12.4090 11.2578 10.2737 8.0552 6.5660 30 12.9077 11.6546 10.5668 9.6442 8.1755 6.6166 35 13.3317 11.9246 10.7574 9.7791 8.2438 6.6418 40 Used to calculate the present value of a series of equal payments made the decadeple: What is the present value of \$2.000 per year for 10 years asuming an analiniereal rate of 98? For (x - 10.1 - 96). the PV factor is 64177.52.000 per year for 10 years is the equivalent of S12.235 Today (\$2,000 X 6.4177) TABLE B.4. f=[(1 + iy" - 11

Part 1 In PMT function, Rate=9%/12, Nper =15 months, PV= 25000

Part 2.

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