Jim and Aneta O'Connor invested $12,000 in a savings account paying 5% annual interest when their son, Austin, was born. They also deposited $500 on each of his birthdays until he was 20 (including his 20th birthday). Jim and Aneta have obtained the following values related to the time value of money to help them with their planning process for their compounded interest decisions. Present value of 1 for 20 periods at 5% 0.37689 Future value of 1 for 20 periods at 5% 2.65330 Present value of an annuity of 1 for 20 periods at 5% Future value of an annuity of 1 for 20 periods at 5% To the closest dollar, how much was in the savings account on his 12.46221 33.06595 20th birthday (after the last deposit)? a. $33,166 $22.00 $48,373 d. $28,533 Accounting for Bond Issues Question On January 1, 2014, $2,000,000, 10-year, 10% bonds, were issued for $1,940,000. Interest is paid annually on January 1. If the issuing corporation uses the straight- line method to amortize discount on bonds payable, the monthly amortization amount is a. $19,400 b. $6,000 c. $1,616 d. $500 10-40