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Brief Exercise 6-15 Marigold Inc. issues $3,400,000 of 7% bonds due in 12 years with interest payable at year-end. The current market rate of interest
Brief Exercise 6-15 Marigold Inc. issues $3,400,000 of 7% bonds due in 12 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 10%. Click here to view factor tables What amount will Marigold receive when it issues the bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places, e.g. 458,581.) Amount received by Marigold when bonds were issued Brief Exercise 6-13 Adams Inc. will deposit $31,700 in a 5% fund at the end of each year for 7 years beginning December 31, 2020. Click here to view factor tables What amount will be in the fund immediately after the last deposit? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Amount in fund Brief Exercise 6-05 Carla Medavoy will invest $8,350 a year for 17 years in a fund that will earn 6% annual interest. Click here to view factor tables If the first payment into the fund occurs today, what amount will be in the fund in 17 years? If the first payment occurs at year-end, what amount will be in the fund in 17 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) First payment today First payment at year-end Brief Exercise 6-04 Leon Newman will invest $9,410 today in a fund that earns 8% annual interest. Click here to view factor tables How many years will it take for the fund to grow to $23,696? Years
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