A(n) ________ need is one that the consumer is reluctant or unwilling to explicitly verbalize

Paula purchased a house for $300,000. After providing a 20% down payment, she borrowed the balance from the local savings and loan under a 30-year 6% mortgage loan requiring equal monthly installments at the end of each month. Which time value concept would be used to determine the monthly payment?

a. Present value of one. b. Future value of one. c. Present value of an ordinary annuity. d. Future value of an ordinary annuity.

On January 1, 2015, Ward Corporation issued $5,000,000 8%, 10-year bonds at 103. The journal entry to record the issuance will show a

A. credit to Cash for $5,150,000 B. credit to Bonds Payable for $5,030,000 C. credit to Premium on Bonds Payable for $150,000 D. debit to Cash of $5,000,000