The present value of $3,000 at the end of seven years at 8% interest is a. $2,228.
Question:
The present value of $3,000 at the end of seven years at 8% interest is
a. $2,228.
b. $1,749.
c. $3,000.
d. $15,618.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
b ...View the full answer
Answered By
Carly Cimino
As a tutor, my focus is to help communicate and break down difficult concepts in a way that allows students greater accessibility and comprehension to their course material. I love helping others develop a sense of personal confidence and curiosity, and I'm looking forward to the chance to interact and work with you professionally and better your academic grades.
4.30+
12+ Reviews
21+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Question Posted:
Students also viewed these Business questions
-
The Coca-Cola Company is a global soft-drink beverage company that is a direct competitor with Starbucks. The data in Chapter 12, Exhibits 12.14 through 12.16 (pages 806-809), include the actual...
-
The investment committee of Grid Iron Restaurants Inc. is evaluating two restaurant sites. The sites have different useful lives, but each requires an investment of $565,000. The estimated net cash...
-
The Grant Wood Arts Association had the following trial balance as of January 1, 2012, the first day of the year: During the year ended December 31, 2012, the following transactions occurred: 1. Cash...
-
A triangular truss structure is shown below. If all truss members are 2.0 m long (a, b, & c in the sketch) and forces L and Rare both 8.0 kN, then what is the force in truss member a? Assume that the...
-
Two intersecting planes in 3-space determine two angles of intersection: an acute angle (0 x = 0 and 2x - y + z - 4 = 0 Plane I 180e - Plane 2
-
The graphs show that the three components of love, namely, passion, intimacy, and commitment, progress differently over time. Passion peaks early in a relationship and then declines. By contrast,...
-
6-3. What is protectionism?
-
A hemisphere of weight W and radius r is released from rest in the position shown. Determine (a) The minimum value of s for which the hemisphere starts to roll without sliding, (b) The corresponding...
-
On July 1, 2020, Center Company issued for $414,205, 8%, 20 year bonds with a face value of $500,000, Interest is paid semiannually on December 31 and June 30. The bonds were issued to yield 10%....
-
An inspector for a military agency desires a variables sampling plan for use with an AQL of 1.5%, assuming that lots are of size 7,000. If the standard deviation of the lot or process is unknown,...
-
Hodson Corp. purchased ten $1,000 8% bonds of Eagle Corporation when the market rate of interest was 6%. Interest is paid semiannually, and the bonds will mature in four years. Using the PV function...
-
What is the present value of bonds with a face value of $6,000, a stated interest rate of 7%, a market rate of 5%, and a maturity date three years in the future? Interest is paid semiannually. Use...
-
Pengo Ltd. owns land that it purchased at a cost of ¥400 million in 2017. The company chooses to use revaluation accounting to account for the land. The land's value fluctuates as follows (all...
-
Units processed during September for material and conversion. Ask an instructor lock lock lock A 3 A copy Determine the cost per equivalent unit for material and conversion cost combined. copy...
-
12% of all college students volunteer their time. Is the percentage of college students who are volunteers different for students receiving financial aid? Of the 338 randomly selected students who...
-
Mervon Company has two operating departments: mixing and bottling. Mixing has 3 3 0 employees and Bottling has 2 2 0 employees. Indirect factory costs include administrative costs of $ 1 8 2 , 0 0 0...
-
XP Ltd. is a manufacturing company with high stock requirements. Management are currently considering their stockholding policy. The following information is available for one stock item, material...
-
Process Costing: weighted average method Required: make a cost of production report in good form. Cost of Production Report-Weighted Average First Dept- Gem Company applies 100% of materials at the...
-
A man with a mass of 70 kg stands on one foot. His femur has cross-sectional area of 8.0 cm 2 and uncompressed length 50 cm. (a) How much shorter is the femur when he stands on one foot? (b) What is...
-
In Exercises delete part of the domain so that the function that remains is one-to-one. Find the inverse function of the remaining function and give the domain of the inverse function. f(x) = 16x4 -3...
-
Candleton borrowed cash, signing a two-year, interest-bearing note payable with a face value of $8,000 and an effective interest rate of 8 percent. Interest payments on the note are made annually....
-
On January 1, 2012, Wilmes Floral supplies borrowed $2,413 from Bower Financial Services. Wilmes Floral Supplies gave Bower a $2,500 note with a maturity date of December 31, 2013. The note specified...
-
Morrow Enterprises purchased a building on January 1, 2012, in exchange for a three-year, non-interest bearing note with a face value of $693,000. Independent appraisers valued the building at...
-
Due to the relationship of financial statements, the statement of stockholders' equity links the income statement to the balance sheet. True or False?
-
Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An...
-
Trey is single and has no qualifying child. His adjusted gross income is $12,355. In order to claim the Earned Income Tax Credit, he must meet which of the following requirements? He cannot be the...
Study smarter with the SolutionInn App