Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NOTHER Use Table 12-1 to solve. Suppose a certain manufacturer deposits $9,000 at the beginning of each 3 month period for 8 years in an

image text in transcribed
image text in transcribed
NOTHER Use Table 12-1 to solve. Suppose a certain manufacturer deposits $9,000 at the beginning of each 3 month period for 8 years in an account paying 8% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in 5) will be in the account at the end of the year period? 5 (6) What is the total amount (in %) of interest eamed in this account? TABLE 12-1 Future Value (Amount) of an Ordinary Annuity of Periods 1% 7% Periods 6% 1.00000 1 1.00000 2 2.00500 2 2% 3% 4% 1.00000 1.00000 1.00000 1.00000 2.01500 2.02000 2.03000 2.04000 3.04522 3.06040 3.09090 3.12160 4.09090 4.12161 4.18363 4.24646 5.15227 5.20404 5.30914. 5.41632 5% 1.00000 2.05000 3.15250 4.31013 5.52563 1.00000 2.01000 3.03010 4.06040 5.10101 3 8% 1.00000 2.08000 3.24640 4.50611 5.86660 3.01 502 3 1.00000 2.07000 3.21490 4.43994 5.75074 2.06000 3.18360 4.37462 5.63709 4 4 4.03010 5.05025 5 5 6 7.15329 6 7 8.65402 7 6.07550 6.15202 6.22955 6.30812 6.46841 6.63298 6.80191 6.97532 7.10588 7.21354 7.32299 7.43428 7.66246 7.89829 8.14201 8.39384 8.14141 8.28567 8.43284 8.58297 8.89234 9.21423 9.54911 9.89747 9.18212 9.36853 9.55933 9.75463 10.15911 10.58280 11.02656 11.49132 10.22803 10.46221 10.70272 10.9497211.46388 12.00611 12.57789 13.18079 733593 8.92280 10.63663 12.48756 14.48656 8 9 8 10.25980 11.97799 13.81645 9 10 10 11 11 12 16.64549 18.97713 21.49530 12 11.27917 11.56683 11.86326 12.16872 12.80780 13.48635 14.20679 14.97164 15.78360 12.33556 12.68250 13.04121 13.41209 14.19203 15.02581 15.91713 16.86994 17.88845 1339724 13.80933 14.23683 14.68033 15.61779 16.62684 17.71298 18.88214 20.14064 14.46423 14.94742 15.45038 15.97394 17.0863218.29191 19.59863 21.01507 22.55049 15.53655 16.09690 16,68214 17.2934218.5989120.02359 21.57856 23.27597 25.12902 13 24.21492 15 27.15211 15 16 16 17 30.12428 33.75023 37.45024 17 16.61423 17.25786 17.93237 18.6.1929 20.15688 21.82453 23.65749 25.67253 27.88SOS 17.69730 18.43014 19.20136 20.0120721.76159 23.69751 25.84037 2821288 30.84022 18.78579 19.61475 20.48938 21.4123123.41444 25.64541 28.1323830.90565 3.99903 19.87972 20.81090 21.79672 22.84056 25.11687 27.6712330.53900 33.75999 37 37896 20.97912 22.01900 23.12367 24.29737 26.87037 29.77808 33.06595 36.78559 10.99519 18 19 IN 19 15.76196 21 22 50.2292 55 45676 22.0840121.2.1919 24 47052 25.783322867649 31.96920 15.71925 19.9927344.86518 23.19.443 244715925.8375 27.299 0.5467814.2479738 5052143.1922919 00574 24310402571630 27.22514 284496 12.45236.6171941.4101846.99583 41614 2543196 26.974628613523042136 442647 19.0200.150200 SO 1558 58 17667 26.5591228 2432030061022000 16.4592641 645014772710 54.86451 24 20 26 27.69191 29.525611 51197 33.67091 551014111741145 59 1561

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

CIA Review Part 2 Internal Audit Practice For The New 3 Part Exam

Authors: Irvin N.Gleim

17th Edition

158194375X, 978-1581943757

More Books

Students also viewed these Accounting questions

Question

What is the most important principle in designing networks?

Answered: 1 week ago

Question

suggest a range of work sample exercises and design them

Answered: 1 week ago