Answer the following compound interest questions:

1. Brian purchased a new bedroom set for his wife's birthday present. The cost of the bedroom set was $1,999 with no payments for six months. However, at the end of six months Brian owes the price of the bedroom set, plus 12% annual interest, compounded monthly. How much interest will Brian pay on his wife's birthday present?

2. Tim put $35,000 in a five-year CD paying 5.75% annual interest, compounded quarterly. What is the total amount Tim will receive when he withdraws his money after five years?

3. Andrew wants to pay off his car. He has a two-year loan at 9% annual interest that is compounded monthly. Andrew must pay $18,700 at the end of the two-year period. How much did Andrew originally borrow?

Please solve each of the following problems showing precision to five decimal places:

1. What is the nominal rate of an investment that returns 9%?

2. What is the periodic rate for a 10% loan compounded monthly?

3. What is the effective rate for each monthly payment of an auto loan when the loan is issued at 13% compounded weekly? (Assume 4.333 weeks per month.)

4. You have decided to start saving for retirement and are making quarterly payments into an account that earns 4.25% with monthly compounding. What effective interest rate is your money earning per quarter?

Which of the following is true of financial accounting? Financial accounting reports are internal reports issued as frequently as the need arises. Financial accounting reports provide special purpose information for a particular user for a specific decision. Financial accounting reports are required simply to be useful to the decision maker. C Financial accounting reports of publicly traded companies require an independent audit.10. Calculate (a) the amount financed, (b) the total finance charge. Round the "Finance charge" to the nearest cent and "APR" to the nearest tenth percent.) Purchase price Down Number of Amount Total of monthly Total finance of a used car payment monthly payments financed payments charge APR $ $5,793 $1,283 48 $5,849.762. Suppose a US resident exchanges $1000 for 112,000 JPY on the foreign ex~ change market at a spot exchange rate of 112.]PY/$. The transaction can be recorded by noting the following (for the US): (a) +$1.000 Financial account, -$1.000 Capital account. (b) +$1.000 Financial account, $1.000 Current account. (c) +$1.000 Current account, $1.000 Financial account. ((1) +$1.00D Financial account, $1.000 Financial account. ) (e +$1.000 Capital account, -$1.000 Financial account. How is managerial accounting different from financial accounting? Multiple Choice O Managerial accounting is used primarily for internal purposes, while financial accounting is used for external purposes Managerial accounting is regulated by the FASB, while financial accounting is regulated by GAAP O Managerial accounting has very specific rules/guidelines that must be followed, financial accounting is based on the needs of the organization O I do not know