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Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1

Present and future value tables of $1 at 3% are presented below:

N

FV $1

PV $1

FVA $1

PVA $1

FVAD $1

PVAD $1

1

1.03000

0.97087

1.0000

0.97087

1.0300

1.00000

2

1.06090

0.94260

2.0300

1.91347

2.0909

1.97087

3

1.09273

0.91514

3.0909

2.82861

3.1836

2.91347

4

1.12551

0.88849

4.1836

3.71710

4.3091

3.82861

5

1.15927

0.86261

5.3091

4.57971

5.4684

4.71710

6

1.19405

0.83748

6.4684

5.41719

6.6625

5.57971

7

1.22987

0.81309

7.6625

6.23028

7.8923

6.41719

8

1.26677

0.78941

8.8923

7.01969

9.1591

7.23028

9

1.30477

0.76642

10.1591

7.78611

10.4639

8.01969

10

1.34392

0.74409

11.4639

8.53020

11.8078

8.78611

11

1.38423

0.72242

12.8078

9.25262

13.1920

9.53020

12

1.42576

0.70138

14.1920

9.95400

14.6178

10.25262

13

1.46853

0.68095

15.6178

10.63496

16.0863

10.95400

14

1.51259

0.66112

17.0863

11.29607

17.5989

11.63496

15

1.55797

0.64186

18.5989

11.93794

19.1569

12.29607

16

1.60471

0.62317

20.1569

12.56110

20.7616

12.93794

Micro Brewery borrows $360,000 to be paid off in three years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment?

$66,455.

$61,800.

$60,000.

$64,519.

Bottom of Form

Present and future value tables of 1 at 9% are presented below.

PV of $1

FV of $1

PVA of $1

FVAD of $1

FVA of $1

1

0.91743

1.09000

0.91743

1.0900

1.0000

2

0.84168

1.18810

1.75911

2.2781

2.0900

3

0.77218

1.29503

2.53129

3.5731

3.2781

4

0.70843

1.41158

3.23972

4.9847

4.5731

5

0.64993

1.53862

3.88965

6.5233

5.9847

6

0.59627

1.67710

4.48592

8.2004

7.5233

Ajax Company purchased a four-year certificate of deposit for its building fund in the amount of $190,000. How much should the certificate of deposit be worth at the end of four years if interest is compounded at an annual rate of 9%?

$614,288.

$615,547.

$268,200.

$266,941.

Present and future value tables of 1 at 9% are presented below.

PV of $1

FV of $1

PVA of $1

FVAD of $1

FVA of $1

1

0.91743

1.09000

0.91743

1.0900

1.0000

2

0.84168

1.18810

1.75911

2.2781

2.0900

3

0.77218

1.29503

2.53129

3.5731

3.2781

4

0.70843

1.41158

3.23972

4.9847

4.5731

5

0.64993

1.53862

3.88965

6.5233

5.9847

6

0.59627

1.67710

4.48592

8.2004

7.5233

How much must be invested now at 9% interest to accumulate to $18,000 in five years?

$10,466.

$10,733.

$11,699.

$11,432.

Present and future value tables of 1 at 9% are presented below.

PV of $1

FV of $1

PVA of $1

FVAD of $1

FVA of $1

1

0.91743

1.09000

0.91743

1.0900

1.0000

2

0.84168

1.18810

1.75911

2.2781

2.0900

3

0.77218

1.29503

2.53129

3.5731

3.2781

4

0.70843

1.41158

3.23972

4.9847

4.5731

5

0.64993

1.53862

3.88965

6.5233

5.9847

6

0.59627

1.67710

4.48592

8.2004

7.5233

Claudine Corporation will deposit $6,600 into a money market sinking fund at the end of each year for the next five years. How much will accumulate by the end of the fifth and final payment if the sinking fund earns 9% interest?

$43,054.

$39,499.

$35,970.

$35,376.

Top of Form

Present and future value tables of 1 at 9% are presented below.

PV of $1

FV of $1

PVA of $1

FVAD of $1

FVA of $1

1

0.91743

1.09000

0.91743

1.0900

1.0000

2

0.84168

1.18810

1.75911

2.2781

2.0900

3

0.77218

1.29503

2.53129

3.5731

3.2781

4

0.70843

1.41158

3.23972

4.9847

4.5731

5

0.64993

1.53862

3.88965

6.5233

5.9847

6

0.59627

1.67710

4.48592

8.2004

7.5233

Mustard's Inc. sold the rights to use one of its patented processes that will result in cash receipts of $3,200 at the end of each of the next six years and a lump sum receipt of $4,700 at the end of the fifth year. The total present value of these payments if interest is at 9% is:

$11,300.

$17,410.

$14,355.

$3,055.

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