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managerial accounting, please show work for better understanding. TIME VALUE OF MONEY PROBLEMS The following five situations require the use of time value of money

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TIME VALUE OF MONEY PROBLEMS The following five situations require the use of time value of money concepts. Calculate the amounts requested, rounding all dollar amounts to the nearest whole dollar. If Frank Ashton deposited $8,000 in a savings account at an annual interest rate of 12 percent, compounded semiannually, how much would be in the savings account at the end of 5 years? (2) How much cash would George Ashton have to deposit today in a savings account to have $400,000 at the end of 10 years, assuming an annual interest rate of 12 percent, compounded monthly? (3) If Frank Ashton deposited $5,000 per year at the end of each year in a savings account at 12 percent interest per annum, how much would be in the savings account at the end of 10 years? (4) How much cash would George Ashton have to deposit at the end of each year to have $50,000 at the end of 10 years, assuming an interest rate of 12 percent per year? (5) Frank Ashton has just purchased a new auto that cost $27,000. He paid $3,000 down and financed the balance over 48 months at an annual interest rate of 9%, compounded monthly. How much will his monthly payment be (month end payments of principal and interest)

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