Question
Please refer to the following balance sheet Apollo Corp. reported for Q3 and Q4: Cash $28,000 Accounts payable $5,000 Accounts receivable 15,000 Notes Payable 12,000
Please refer to the following balance sheet Apollo Corp. reported for Q3 and Q4:
Cash | $28,000 |
| Accounts payable | $5,000 |
Accounts receivable | 15,000 |
| Notes Payable | 12,000 |
Inventory | 45,000 |
| Accruals | 17,000 |
Net Fixed Assets | 122,000 |
| Long-Terms Debt | 45,000 |
|
|
| Common Stock | 10,000 |
|
|
| Retained Earnings | 121,000 |
Total assets | $210,000 |
| Total Liabilities & Equity | $210,000 |
Q8) Your grandparents deposit $2,000 each year on your birthday, starting the day you are born, in an account that pays 7% interest compounded annually. How much will you have in the account on your 21st birthday, just after your grandparents make their deposit?
A) $101,802 B) $98,016 C) $86,058 D) $79,640
Q9) What is the present value of an annuity of $4,000 received at the beginning of each year for the next eight years? The first payment will be received today, and the discount rate is 9% (round to nearest $1).
A) $36,288 B) $35,712 C) $25,699 D) $24,132
Q10) Today is your 21st birthday and your bank account balance is $25,000. Your account is earning 6.5% interest compounded quarterly. How much will be in the account on your 50th birthday?
A) $159,795 B) $162,183 C) $163,832 D) $164,631
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