Answer all the questions using MS Excel Spreadsheet. You must print the assessment for submission and also upload copy of your Excel Spreadsheet into AHIC Moodle.
Q1. You are the Finance Manager for Andy & Co and have received the approval to borrow $200,000 with interest rate settled @5% p.a. The loan is for a period of 5 years. And to be repaid monthly. Calculate the repayment amount and total interest amount for the loan.
Q2. Andy & Co has also got a car loan of $25,000 for 3 years with interest rate settled @8% p.a. to be compounded quarterly. Calculate the accrued amount for the loan.
Q3. As on 31st May, 2016, Andy &Co's loan account shows a balance of $5,100. The company made the minimum monthly payment of $100 for the month of June on 1st June. Calculate the interest amount accrued for June by considering the interest rate of 6% p.a.
Q4 Using the following information of Andy & Co, calculate the Annual Break Even Point (BEP).
- Capacity of manufacturing is 2000 units per month
- Fixed Cost per month is $50,000
- Selling price per unit is $100
- Variable cost per unit is $50
Q5. Using the information below calculate the depreciation amount per year for an equipment.
- Purchase price was $40,000.
- Salvage value is $10,000.
- Expected useful life is 5 years.
Q6. Using simple interest method, how much interest will you pay if you borrow $20,000 for 2 years at an interest rate of 5% p.a.