Questions E6-1 to E6-5. Intermediate Accounting I.

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(Unless instructed otherwise, round answers to the nearest dollar. Interest rates are per annum unless otherwise indicated.) E6-1 (L01) (Using Interest Tables) For each of the following cases, indicate (a) to what rate columns, and (b) to what number of periods you would refer in looking up the interest factor. 1. In a future value of 1 table 2. In a present value of an annuity of 1 table E6-2 (L01,2) EXCEL (Simple and Compound Interest Computations) Alan Jackson invests $20,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Alan withdraws the accumulated amount of money. Instructions (a) Compute the amount Alan would withdraw assuming the investment earns simple interest. (b) Compute the amount Alan would withdraw assuming the investment earns interest compounded annually. (c) Compute the amount Alan would withdraw assuming the investment earns interest compounded semiannually. E6-3 (L02,3,4) EXCEL (Computation of Future Values and Present Values) Using the appropriate interest table, answer each of the following questions, (Each case is independent of the others.) (a) What is the future value of $7,000 at the end of 5 periods at 8% compounded interest? (b) What is the present value of $7,000 due 8 periods hence, discounted at 6% ? (c) What is the future value of 15 periodic payments of $7,000 each made at the end of each period and compounded at 10% ? (d) What is the present value of $7,000 to be received at the end of each of 20 periods, discounted at 5% compound interest? E6-4 (L03,4) (Computation of Future Values and Present Values) Using the appropriate interest table, answer the following questions. (Each case is independent of the others). (a) What is the future value of 20 periodic payments of $4,000 each made at the beginning of each period and compounded at 8% ? (b) What is the present value of $2,500 to be received at the beginning of each of 30 periods, discounted at 5% compound interest? (c) What is the future value of 15 deposits of $2,000 each made at the beginning of each period and compounded at 10% ? (Future value as of the end of the fifteenth period.) (d) What is the present value of six receipts of $1,000 each received at the beginning of each period, discounted at 9% compounded interest? E6-5 (L04) (Computation of Present Value) Using the appropriate interest table, compute the present values of the following periodic amounts due at the end of the designated periods. (a) $30,000 receivable at the end of each period for 8 periods compounded at 12%, (b) $30,000 payments to be made at the end of each period for 16 periods at 9%. (c) $30,000 payable at the end of the seventh, eighth, ninth, and tenth periods at 12%