a. What is the present value of nine annual cash payments of $6,000, to be paid at the end of each year using an interest rate of 4%? b. What is the present value of $10,000 to be paid at the end of 22 years, using an interest rate of 16%? c. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 12 years, assuming that the account will earn 8% interest? d. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of 12 years, assuming that the account will earn 10% interest? e. Assume that a machine was purchased for $56,600. Cash of $21,000 was paid, and a four-year, 10% note payable was signed for the balance. 1. Prepare the horizontal model and record the journal entry, to show the purchase of the machine as described. 2. How much is the equal annual payment of principal and interest due at the end of each year? 3. What is the total amount of interest expense that will be reported over the life of the note? 4. Prepare the horizontal model and record the journal entries, to show the equal annual payments of principal and interest due at the end of each year