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Inventory turn was way in the beginning), HUYUUU Problem 3 Buddy will sell you some...

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Accounting

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Inventory turn was way in the beginning), HUYUUU Problem 3 Buddy will sell you some carpet. $20,000. No money down and only 1% interest per year for two years. (You send him the 1% at the end of each year). At the end of the 2nd year, you send him the $20,000 along with the interest. If you borrowed from the bank you would have to pay 12%-a heck of a deal... or is it? (How much are you really paying for the carpet?) Problem 54 You want to buy a bus. Cost is $180,000 with 10% down and the rest in 5 equal annual payments which include interest at 6%. The payments begin in one year. How much are the payments? Amortize the loan

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