If the principle amount of money P= 1000 JOD, i%= 10, n=5 years: F = ?, if i% compounded yearlyO a. F=1500.23 JODO b. F=1550.45 JODO c. F=1610.51 JODO d. F=1350.80 JOD Interest rate is A:O a. NoneO b. Is the practice of charging an interest rate to an initial sum and to any previously accumulated interestO c. Is the practice of charging an interest rate only to an initial sumO d. Percentage periodically applied to a sum of money to determine the amount of interest to be added tothat sum

Future value can be found by interest rate and period given by future value formula.

Answered: a. F=1500.23 JOD b. F=1550.45 JOD c.…

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a. F=1500.23 JOD b. F=1550.45 JOD c. F=1610.51 JOD d. F=1350.80 JOD

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 6MC: Which type of adjustment occurs when cash is either collected or paid, but the related income or...

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Question

If the principle amount of money P= 1000 JOD, i%= 10, n=5 years: F = ?, if i% compounded yearly
O a. F=1500.23 JOD
O b. F=1550.45 JOD
O c. F=1610.51 JOD
O d. F=1350.80 JOD

Interest rate is A:
O a. None
O b. Is the practice of charging an interest rate to an initial sum and to any previously accumulated interest
O c. Is the practice of charging an interest rate only to an initial sum
O d. Percentage periodically applied to a sum of money to determine the amount of interest to be added to
that sum

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