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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

problem 1) To facilitate restructure some of its debt, General Motors decided to pay off one of its short-term loans.  If a company borrowed money 1 year ago at the interest rate of 12% per year and the total cost of re-paying a loan was \$120 million, compute the amount of the original loan?

A. PV= \$107,142,857.14
B. FV= \$120,000,000.00
C. RATE= 12%
D. Nper= 1

problem 2) Two years ago I bought some boxes of flooring for \$20 at the auction.  I just sold them for \$30. What efficient annual rate of return did I make on my investment on a basis of compound interest?

A. PV = \$20.00
B. FV =   \$(30.00)
C. RATE = 22.474%
D. Nper = 2

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M99508

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