A 50,000 payment was made on July 9, 2017 find the discounted value and accumulated value on the specified date corresponding to the given rates of interest or discount. Rate of Interest or Discount Date Discounted Value Date Accumulated Value Effective interest rate of 3.24% July 9, 2013 January 9, 2020 Effective discount rate of 4.96% July 9, 2015 April 9, 2018 simple interest rate of 4 2/5% per annum (exact, non-leap year) March 11, 2017 January 26, 2018 simple interest rate of 6 3/4% per annum (banker's rule) February 15, 2017 December 19, 2017 8.4% interest rate convertible quarterly May 9, 2015 June 9, 2018
A 50,000 payment was made on July 9, 2017 find the discounted value and accumulated value on the specified date corresponding to the given rates of interest or discount. Rate of Interest or Discount Date Discounted Value Date Accumulated Value Effective interest rate of 3.24% July 9, 2013 January 9, 2020 Effective discount rate of 4.96% July 9, 2015 April 9, 2018 simple interest rate of 4 2/5% per annum (exact, non-leap year) March 11, 2017 January 26, 2018 simple interest rate of 6 3/4% per annum (banker's rule) February 15, 2017 December 19, 2017 8.4% interest rate convertible quarterly May 9, 2015 June 9, 2018
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 79E
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A 50,000 payment was made on July 9, 2017 find the discounted value and accumulated value on the specified date corresponding to the given rates of interest or discount.
| Rate of Interest or Discount | Date | Discounted Value | Date | Accumulated Value |
| Effective interest rate of 3.24% | July 9, 2013 | January 9, 2020 | ||
| Effective discount rate of 4.96% | July 9, 2015 |
April 9, 2018 |
||
| simple interest rate of 4 2/5% per annum (exact, non-leap year) | March 11, 2017 |
January 26, 2018 |
||
| simple interest rate of 6 3/4% per annum (banker's rule) | February 15, 2017 | December 19, 2017 | ||
| 8.4% interest rate convertible quarterly | May 9, 2015 | June 9, 2018 |
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