Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent. Compound Amount Term of Investment Nominal Rate (%) Interest Compounded Present Value Compound Interest $32,000 6 years 4 semiannually $ $
Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent. Compound Amount Term of Investment Nominal Rate (%) Interest Compounded Present Value Compound Interest $32,000 6 years 4 semiannually $ $
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Receivables
Section: Chapter Questions
Problem 8.19EX: Determine due date and interest on notes Determine the due date and the amount of interest due at...
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Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent.
| Compound Amount |
Term of Investment |
Nominal Rate (%) |
Interest Compounded |
Present Value |
Compound Interest |
|---|---|---|---|---|---|
| $32,000 | 6 years | 4 | semiannually | $ | $ |
Transcribed Image Text:TABLE 11-2
Present Value Table (Present Value of $1 at Compound Interest)
Periods
1%
1,%
2%
3%
4%
5%
6%
7%
8%
Periods
1
0.99502
0.99010
0.98522
0.98039
0.97087
0.96154
0.95238
0.94340
0.93458
0.92593
1
2
0.99007
0.98030
0.97066
0.96117
0.94260
0.92456
0.90703
0.89000
0.87344
0.85734
0.98515
0.97059
0.95632
0.94232
0.91514
0.88900
0.86384
0.83962
0.81630
0.79383
3
4
0.98025
0.96098
0.94218
0.92385
0.88849
0.85480
0.82270
0.79209
0.76290
0.73503
4
5
0.97537
0.95147
0.92826
0.90573
0.86261
0.82193
0.78353
0.74726
0.71299
0.68058
6
0.97052
0.94205
0.91454
0.88797
0.83748
0.79031
0.74622
0.70496
0.66634
0.63017
6.
7
0.96569
0.93272
0.90103
0.87056
0.81309
0.75992
0.71068
0.66506
0.62275
0.58349
7
8
0.96089
0.92348
0.88771
0.85349
0.78941
0.73069
0.67684
0.62741
0.58201
0.54027
8
0.95610
0.91434
0.87459
0.83676
0.76642
0.70259
0.64461
0.59190
0.54393
0.50025
9
10
0.95135
0.90529
0.86167
0.82035
0.74409
0.67556
0.61391
0.55839
0.50835
0.46319
10
11
0.94661
0.89632
0.84893
0.80426
0.72242
0.64958
0.58468
0.52679
0.47509
0.42888
11
12
0.94191
0.88745
0.83639
0.78849
0.70138
0.62460
0.55684
0.49697
0.44401
0.39711
12
13
0.93722
0.87866
0.82403
0.77303
0.68095
0.60057
0.53032
0.46884
0.41496
0.36770
13
14
0.93256
0.86996
0.81185
0.75788
0.66112
0.57748
0.50507
0.44230
0.38782
0.34046
14
15
0.92792
0.86135
0.79985
0.74301
0.64186
0.55526
0.48102
0.41727
0.36245
0.31524
15
16
0.92330
0.85282
0.78803
0.72845
0.62317
0.53391
0.45811
0.39365
0.33873
0.29189
16
17
0.91871
0.84438
0.77639
0.71416
0.60502
0.51337
0.43630
0.37136
0.31657
0.27027
17
18
0.91414
0.83602
0.76491
0.70016
0.58739
0.49363
0.41552
0.35034
0.29586
0.25025
18
19
0.90959
0.82774
0.75361
0.68643
0.57029
0.47464
0.39573
0.33051
0.27651
0.23171
19
20
0.90506
0.81954
0.74247
0.67297
0.55368
0.45639
0.37689
0.31180
0.25842
0.21455
20
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