Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

36.Hao made a single investment which, after 6 years invested at 10% compounded semiannually, has accumulated to $220,900. How much did Hao invest initially? (PV

36.Hao made a single investment which, after 6 years invested at 10% compounded semiannually, has accumulated to $220,900. How much did Hao invest initially? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $220,893 $163,724 $218,363 $122,997 $13,341 37. Elsa is planning to set-up an education fund for her daughter. She plans to invest $7,000 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 9 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $87,413.20 $68,040.15 $50,400.40 $126,000.10 $45,360.25 38. Pelcher Company acquired a machine by issuing a note that requires semiannual payments of $5,200 for 4 years. The interest rate on the note is 10% compounded semiannually. What is the cost of the machine? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $18,177.10 $29,863.24 $16,467.27 $33,608.64 $41,600.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles Volume 2 Chapters 13 To 26

Authors: Jerry J. Weygandt

11th Edition

1118342070, 978-1118342077

More Books

Students also viewed these Accounting questions