Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello, hope all is well. Can you please check my work. It is from my Homework in Accounting Mangerial. Thank you. Use these present value

Hello, hope all is well. Can you please check my work. It is from my Homework in Accounting Mangerial. Thank you.

Use these present value tables to answer the question that follow.

Below is a table for the present value of $1 at Compound interest.

Year6%10%12%10.9430.9090.89320.8900.8260.79730.8400.7510.71240.7920.6830.63650.7470.6210.567

Below is a table for the present value of an annuity of $1 at compound interest.

Year6%10%12%10.9430.9090.89321.8331.7361.69032.6732.4872.40243.4653.1703.03754.2123.7913.605

Using the tables above, what is the present value of $12,322.00 (rounded to the nearest dollar) to be received at the end ofeachof the next four years, assuming an earnings rate of 12%?

a.$29,597

b.$44,421

c.$12,322

d.$37,422

I Figure out it to be C 12,322 value at $1 formula.

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

Accounting What The Numbers Mean

Authors: David Marshall, Wayne McManus, Daniel Viele

10th Edition

77729870, 9780077729875

More Books

Students also viewed these Accounting questions