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Due in thirty minutes. Need help on a few problems attached below willing to assign tutor that does them correctly to all my future assignments.

Due in thirty minutes. Need help on a few problems attached below willing to assign tutor that does them correctly to all my future assignments. Its due in thirty minutes

image text in transcribed 1.On January 1, 20X1, Luis made an investment of $ 6,710.08 into an investment account. He plans to withdraw $1,000 annually for the next 10 years starting on January 1, 20X2. His account balance will be zero after his last withdrawal. Question: Which of the following interest rates is the closest to the rate Luis will be earning on his investment? Select one: a. 10% b. 7% c. 33% d. 11% e. 6% f. 8% g. 12% h. 9% i. 15% 2. Apex Inc. would like to acquire a new machine for its factory but it will need to borrow the entire amount to do so. It has determined that it can afford to pay $10,000 per year for the next five (5) years towards a promissory note beginning one year from the date of the loan. Question: Rounding to the nearest whole dollar, if Apex's borrowing rate of interest is 12% compounded annually, what will be the maximum amount it can borrow in order to keep within its budget? 3. On May 1, Bridget plans to make a single (lump-sum) deposit into an investment account which earns 10% compounded annually. She would like for this investment to be worth $40,000 at the end of six (6) years. Question: Rounding to the nearest whole dollar, what should be the amount of Bridget's investment on May 1? 4. Beginning one year from today, Larry will begin investing $1,000 at the end of each year for five years at 8% interest compounded annually. Question #1: Rounded to the nearest whole dollar, how much will Larry have in his account at the end of year five? Rounded to the nearest whole dollar, how much in total interest did Larry earn over the entire five years? 5. On October 1, Stacy made a single deposit of $3,000 in an investment account which earns interest of 8% compounded annually. Question: Rounded to the nearest whole dollar, what will be the balance in her account at the end of ten (10) years? 6. True or False: Assume you wish to have a certain amount saved four years from now, and you plan to make a one-time deposit today in an interest-bearing account earning interest of 10%. As the compounding frequency of interest increases, the amount you need to invest today in order to achieve your goal will decrease. Select one: True False 7. True or False: At a given interest rate, if $4,000 is invested today for five years, the future value will be higher if interest is compounded annually rather than compounded quarterly. Select one: True False Starting today, assume that you plan to invest $5,000 at the end of each month for a total of 2 years in an account with an interest rate of 12% compounded monthly. You would like to calculate the amount your investment will grow to by the time of your final payment. Question: What should be the correct "n" and "i" used for factor table purposes. 8. You have been awarded a large bonus at work in the amount of $10,000. You intend to save this bonus in an account earning interest of 6% compounded annually. You would like for your investment to eventually be worth $32,000 in order to take your family on a well-deserved trip around the world. Question: Approximately how many years will it take for your investment to reach its goal? 9. On 1/1/X1, Wolfpack Inc. purchases a three-year certificate of deposit (CD) for $10,000. The CD earns interest of 6% compounded annually. The certificate will mature on 1/1/X4. You have calculated that the future value of Wolfpack's CD to be $11,910 but you would like to prove your answer by preparing an amortization schedule. 1. Rounded to the nearest whole dollar, what should be the Carrying Value on 1/1/X3? 2. Rounded to the nearest whole dollar, what should be the interest revenue earned from 1/1/X3 to 1/1/X4 (the amount on your 1/1/X4 line)? 3. Based on your schedule, was $11,910 the correct future value amount

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