this is a compound interest problem. do this typewritten, please. I will upvote. thank you. no upvote for handwritten 4. A principal of P27,000 was placed in an investment which gives theinterest of 12% compounded monthly. How long will it get the amountof P30,500?Solution:4

Future Value = Present Value x (1 + r)^n

Answered: A principal of P27,000 was placed in an…

A principal of P27,000 was placed in an investment which gives the interest of 12% compounded monthly. How long will it get the amount of P30,500? Solution:

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 7PROB

See similar textbooks

Related questions

Q: Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Prepaid Rentals…

A: The transactions which takes place after the preparation of the trial balance in the books are known…

Q: $ Budgeted overhead costs before any interdepartment cost allocations Support work supplied by AS…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: Hillside Excursions issues bonds due in 15 years with a stated interest rate of 9% and a face value…

A: The current interest rate is compared to the interest rate that is listed on the bond to figure out…

Q: If P19,000 is invested at 18% compounded semiannually, find the compound interest in 3 years.

A: Compound interest = A - P = 31,864.902* - 19,000…

Q: Harvest Inc. produces and sells a single product. The selling price of the product is $200.00 per…

A: Introduction: Break even units: It tells the level of sales units where there is no profit nor loss…

Q: On January 15, Ross Furniture, Inc., accepts a $5,000, 180-day, 10 percent note from a customer at…

A: Introduction: Journals: 1 ) Journals are book of prime records. 2 ) All the business transactions…

Q: An investor that owns convertible bonds in a deteriorating company would realize a higher return on…

A: Return on investment: It implies to the rate that an investor expects to earn and receive on the…

Q: The amount of uncollectible accounts at the end of the year is estimated to be $28,500, using the…

A: Introduction: A provision for doubtful accounts is referred to as a "contra asset" because it lowers…

Q: compute the tax

A: Tax refers to the amount which is charged by the government on the earnings of an individual or an…

Q: A manufacturing process can be designed for varying degrees of automation. The following is relevant…

A: Present Value- The current value of a sum of future money with a specific interest rate is referred…

Q: A.)Most economical offer July your you. B.)Capitalized cost of equipment B. C.)Capitalized cost of…

A: When we have to select one Equipment out of two or more Equipment, then we compare the Equipments on…

Q: On January 1 of its first month of business, Bags Bunny, Inc., paid $74,000 for six months rent…

A: Lets understand the basics. Adjustment entry is need to pass to record correct amount of revenue and…

Q: Problem 2 Assume that Steven is 28 years old, works as a lawyer and plans to retire at the age of…

A: The savings that he needs to do while working as a lawyer if he puts money away monthly in equal…

Q: Income Tax Expense Interest Expense Supplies Expense Totals 0 $ 107 $ 107 Transactions and events…

A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…

Q: Furnishing manufacturing company total overheads allocated and apportioned to the production and…

A: The cost allocation means to allocate the cost of one department to the other departments. It can be…

Q: Problem 9-10 (AICPA Adapted) On January 1, 2021, Sunrise Company was experiencing extreme financial…

A: Debt restructuring is a procedure that enables a private, public corporation or a sovereign…

Q: be undervalued by $200,000 and to an unrecorded r period and patent is amortized over an 8-year per…

A: Noncontrolling interest refers to the ownership concept when the shareholder of the company owns…

Q: (a) Journalize the entry to record the issuance of the bonds. If an amount box does not require an…

A: Bonds/Debentures are long term loans which a company borrow to finance its business. Company has to…

Q: An increase in the general price level means goods will now cost more. What effect with this have on…

A: Here discuss about the details of the increase in the price level which can be affected in the money…

Q: A company reports the following: Net income Preferred dividends Shares of common stock outstanding…

A: Earnings per share show the income earned by the company held in hands of each shareholder of the…

Q: Required information PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three…

A: Year 2 units-of-production depreciation expense=Capitalized cost of Machine B-Residual…

Q: The following accounts were taken from the Adjusted Trial Balance columns of the end-of-period…

A: The income statement is one of the financial statements of the business, which tells about the…

Q: If Kim buys a car for $30,000 with an estimated life of 5 years, with a residual value of $5,000,…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: You should accept a project when the ?: net present value is negative. profitability index is…

A: Ans is (2) and (4) Because Company should accept the project when Net present value is Positive. PI…

Q: Draaksh has budgeted sales of $8.7million for the next fiscal year. what is the companys margin of…

A: Given that, Contribution margin ratio = 54.55% Breakeven point sales in dollars = $4,703,208 or…

Q: The Harrison Bicycle Company had the following operating results for 2021-2022. In addition, the…

A: The value of equity is determined by deducting total liabilities from the total assets. The…

Q: The following transactions for the month of March have been joumalized and posted to the proper…

A: Accounts Receivables: The revenues or money that the firm will receive from its customers who have…

Q: The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts…

A: Introduction: Current assets are all assets that a company expects to sell or use within the next…

Q: Record the journal entries for the 2 listed events below. 1. On June 13, 2022, Best Buy issued…

A: Introduction: A journal entry is a record of a business transaction in an accounting system. Journal…

Q: ank provide an investment as Rabbul Maal with restriction to mudarib that he invest oil sector,…

A: A partnership is a form of business in which two or more people agree to operate and manage the…

Q: Cherokee Manufacturing Company established the following standard price and cost data:…

A: Introduction: A pro forma income report is a report that indicates a company's adjusted income after…

Q: Your next-door neighbor recently began a new job as assistant controller for Conundrum Corporation.…

A: 1. Planned Production in units 4000 units 2. Actual Production In units 3400 units 3. Actual…

Q: Since about January 2, 2020, Mandan, Emeril, with Fontenot's partnership had the following capital…

A: It is a contract between two or more partners for establishing a business and dividing earnings and…

Q: If net income is $50,000 and comprehensive income is $60,000, how much was other comprehensive…

A: Net income + other Comprehensive Income or loss = Comprehensive Income

Q: Instructions Last Unguaranteed Financial Inc. purchased the following trading securities during Year…

A: Journal entry is the modern method of accounting which is used to record business transactions that…

Q: Required information PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three…

A: Depreciation expenses (Straight line)=Capitalized cost of asset-Residual valueUseful life

Q: inancial Projection CALMS Ice Cream Delight The current business plan is indicated to require a…

A: Financial Statements : These are the statement which tells about the performance/ Solvency and…

Q: Why were dividends not included under the liabilities and equity section?

A: Dividends are the payments made to the shareholders of the entity as a return for making investment…

Q: The Income Statement columns in the end-of-period spreadsheet show that debits are equal to $28,670…

A: An income statement is a financial statement showing a company's income and expenses. It also…

Q: Basic CVP Analysis – Using Goal Seek Determine the breakeven point for the Drill/Driver product…

A: As per our protocol we provide solution to the one question or to the first three sub-parts and you…

Q: Oriole Corporation has 74,000 shares of common stock outstanding. It declares a $2 per share cash…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: Huds Incorporated reports the information below on its product. The company uses absorption costing…

A: Introduction: The absorption costing net income, also known as the classic net income, is determined…

Q: Complete your calculations by filling in the highlighted cells. Note: the PV Annuity table is…

A: PV of annuity factor = 1 - (1+r)-n / r r= rate per period n= number of periods…

Q: Ecco Company sold $136,000 of kitchen appliances with six-month warranties during September. The…

A: Estimated warranty expenses are based on the rate of warranty expense on the sales price. So…

Q: Al-Can Products, Inc. estimates that it will build 5,000 benches next year. For this amount of…

A: This question asks for the overhead application rate for next year. Overhead Application Rate =…

Q: NTJ Distributors Ltd has has an annual demand for an airport metal detector of 1400 units. The cost…

A: Lets understand the basics. Economic order quantity is a quantity at which carrying cost and…

Q: What do the terms 'debit' and 'credit' mean from an accounting perspective? What are the two…

A: The terms ‘debit’ and ‘credit’ forms the basis of accounting. It is on the basis of these two terms…

Q: Required: 1. Prepare journal entries to record the costs incurred in both the Bending Department and…

A: Techno co. produces the tool through two process - bending and drilling. Process costing is the…

Q: Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account,…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: Present the journal entry necessary to record each of the following items; assuming King Company…

A: The journal keeps the record for day to day transactions of the business on regular basis The…

Question

100%

this is a compound interest problem. do this typewritten, please. I will upvote. thank you. no upvote for handwritten

4. A principal of P27,000 was placed in an investment which gives the
interest of 12% compounded monthly. How long will it get the amount
of P30,500?
Solution:
4

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Assume that an investment of 100,000 produces a net cash flow of 60,000 per year for two years. The discount factor for year 1 is 0.89 and for year 2 is 0.80. The NPV is a. 0 b. 6,800 c. 1,400 d. (4,000)
An investment of 1,000 produces a net cash inflow of 500 in the first year and 750 in the second year. What is the payback period? a. 1.67 years b. 0.50 year c. 2.00 years d. 1.20 years e. Cannot be determined
What principal deposited 3 years ago will grow to $24,939.86 in 5 years and 4 months from now if money grows at 2.64% compounded annually? i need pv and fv and N for this
1. What is the accumulated amount after 5 years of P7,500.00 invested at a rate of 10% per year compounded quarterly? 2. How long will it take the money to double itself if invested at 16% compounded quarterly? In how many years are required for P3,000.00 to increase by P5,000.00 if it earns 12% compounded semi-annually?
An investment of $2,000 pays interest of 1.5% per month. What will be the value of this investment at the end of 3 years? Answers: A. $1,407.69 B. $3,286.00 C. $3,418.28 D. $3,613,84
1. If the investment is expected to earn revenue of P4,000,000, with cash expenses amounting to P1,500,000 each over its life, What is the payback period in years? 2. If the investment is expected to earn increase revenue by P750,000 annually with cash savings on expenses of P120,000 each over its life, what is the accounting rate of return of this investment?
RM1,800 is invested in scheme A at 10% per annum for 2 years at simple interest while another RM1,800 was invested in scheme B at 10% compounded quarterly. Which scheme will give more profit to investor and find the difference between the interest earned?
An investment of P50,000 is made at the beginning of each month for 5 years. How much will the investment be at the end of the term, if interest is 6% compounded monthly? A. P3,600,526.35 B. P3,552.839.24 C. P3,505,944.00 D. P3,649.020.00
An investment costing $10,000 today promises to repay investors $6,000 per annum for the next two years. At 5% discount rate, what is the NPV? a) -$4,286 b) $1,156 c)$2,294 d)$3,405
3- The company will invest for a 2-year project. The first year, return of the investment is 240.000 USD and the second year, return is 432.000 USD. If the annual interest rate is 20%, how much money should be invested at present value for this investment to be profitable?
A principal of 2450 Rials is invested at rate 5.25% compounded quarterly. After how many years the investment first exceed 10000 Rials.a)After how many years will it be worth 1 million Rial? b)Find the value in 10 years' time?
An executive invests $22,000, some at 7% and some at 6% annual interest. If he receives an annual return of $1,420, how much is invested at each rate? Pls thanks