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#5 Homework Problem 5.1 If i deposit 5600 in the bank today and the bank pays interest of 6% compounded annually, how much will have 3 years from today? Problem 5-2 if Mark Jr deposited $2,000 in the bank today at 6%, how much would he have 8 years from today? Problems 5.3 if Malcolm deposits $300 in an account that pays interest annually at 12% how much will he have in 2 years? Problem 5.4 if Jamil deposits $200 in an account at 8% that pays interest semi-annually, how much will she have in 2 years? Problem 5-5 Beamer Biz Year 3, 2021 (See website for beginning balances) During the third year she paid the money she owed for last year's merchandise and received the money due her from last year's sales. Also, during the third year she bought 15 Beamers and sold four. The Beamers cost her $46,000 each and she sold them for $66,000 apiece Terms for purchasing and selling the Beamers remain the same. She paid rent of $17,000, which represented the current year's rent plus the rent she owed at the end of the prior year plus January of next year's rent. She paid cash wages of $30,000 and utilities of $3,000. She issued 100 new shares of common stock on September 1" for $10,000 in exchange for a billboard sign which she expects to last 10 years and then be worth $1.000, On October 1" she took out a three-year insurance policy for $10,800. She expenses the insurance at $300 per month. She paid her annual interest to Uncle Phil. She paid the taxes she owed at the end of last year. At the end of the year she owed wages of $3,000 and taxes for the year (tax rate remains 30%). At December 31, she paid a dividend of $12.000. So how did she do the third year? (Prepare Journal Entries, T-Accounts, and Financial Statements) Problem 5-6 Jane will save for three years. The bank pays interest at 8% compounded semi-annually. How much will she have in three years if she deposits $1,000 today? Problem 5-7 For Jane (5-6), what if the bank paid interest annually? Problem 5-8 How much will you have in three years if you put $100 in the bank today and the bank pays A) 8% compounded annually? B) 16% compounded quarterly? C) 12% compounded semi-annually? D) 24% compounded quarterly? Problem 5-9 How much do I need to deposit in the bank today at 8% compounded quarterly so that I will have $100,000 one year from today