Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could you please help me with these questions? I want to make sure I had the right answers. Thanks One Year Future Value What is

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Could you please help me with these questions? I want to make sure I had the right answers. Thanks

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
One Year Future Value What is the future value of $6,000 deposited for one year earning 9% interest rate annually? Multiple Choice O $6,540 O $12,540 O $540 $6,0002 Discounting Three Years What is the present value of a $620 payment in three years when the discount rate is 7 percent? Multiple Choice O $576.60 O $663.40 O $620.00 n $506.10Future Value of an Annuity What is the future value of a $400 annuity payment over ? years if the interest rates 3 are 8 percent? Multiple Choice 0 $4,103.92 $3,569.12 $3,024.00 0 0 $68 5.53 O Future Value of an Annuity What is the future value of a $1,500 annuity payment over 8 years if the interest rates are 7 l I percent? Multiple Choice 0 151338421 0 $257123 0 $15,339.10 0 $12,840.00 5 Present Value of an Annuity What is the present value of a $2,200 annuity payment over 8 years if interest rates are 12 percent? Multiple Choice 0 $1222.15 0 $388.54 0 $544212 0 $10,923.31 6 year forever? Present Value of a Perpetuity What's the present value, when interest rates are 6.80 percent, of a $230 payment made every Multiple Choice O $2,300.00 O $1,564.00 O $15.64 O $3,382.35Interest-nn-Interest Consider a $1,300 deposit earning 7 percent interest per year for 10 years. How much total interest is 7 earned on the original deposit (excluding interest earned on interest)? Multiple Choice 0 $910.00 0 same 0 $323.33 0 $1,233.33

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

Fundamentals of Financial Accounting

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

5th Canadian edition

1259269868, 978-1259269868

More Books

Students also viewed these Accounting questions