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filled a few answers in not sure how to get the ones I didnt if someone is able to show me steps for the ones
filled a few answers in not sure how to get the ones I didnt if someone is able to show me steps for the ones not answered or wrong please
QUESTION 1 You plan to retire at age 40 after a short but highly successful career. You would like to accumulate enough money by age 40 to withdraw $150,000 each year for the next 40 years. Your account bears interest at 7%. How much do you need to accumulate by the time your retire? $ 1,999,755 $2,246,175 O $6,000,000 $ 400,800 QUESTION 2 A bond has a coupon rate of 6%. If the bond is issued when the yield is 8%, this bond will sell for a Premuim for a Discount for the Face amount. QUESTION 3 __ bonds. A bond that may be exchanged for a number of shares of the issuing corporation's common stock is called O callable convertible debenture O bearer QUESTION 7 You have won the grand prize in a contest! The prize is $25,000 per year paid each year for 10 years. How much would your receive if you choose instead to receive a cash payout now if the interest rate is 4%? $ 168,900 $ 300,152.50 O $250,000 $ 202,772.50 QUESTION 8 If $4,000 is invested at the end of every year for six years, how much money will be accumulated at the end of the six years if the interest rate is 6%? $ 25,440 $ 167,407.20 $ 27,901.20 $ 19,669.20 QUESTION 9 A semi-annual bond having the following was issued by a corporation: $200,000 face amount 10% coupon rate 8 % yield 10 years What is the semi-annual interest payment on the bond? $ 20,000 $10,000 QUESTION 10 A corporation issued a $200,000, 10% coupon, 10 year bond when the yield was 8%. Assume that the selling price is calculated to be $227,100. Which of the following statements is true regarding the journal entry to record the issuance of the bond? Cash should be debited for $200,000 O Premuim on Bonds should be credited for $27,100 Discount of Bonds should be credited for $27,100 Bonds Payable should be debited for $227,100 Step by Step Solution
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