what is the future worth of the deposit Dave deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year, respectively in asavings account which earned 0.1 per annum. Determine the future worth of the deposit?Note: Interest is already shown in decimal form. Do not round in between solution. No need to put UOM and comma. Final answer round to the nearest WHOLENUMBER.Add your answer

Interest rate = 0.1 Year Deposit 2 4000 3 4500 4 5000

Answered: Dave deposited P4,000, P4,500 and…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 21CE

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Next Level Potter wishes to deposit a sum that at 12% interest, compounded semiannually, will permit 2 withdrawals: 40,000 at the end of 4 years and 50,000 at the end of 10 years. Analyze the problem to determine the required deposit, stating the procedure to follow and the tables to use in developing the solution.
On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569 and payment is due each Dec. 31. What is the journal entry on Jan. 1 to record the cash received and on Dec. 31 to record the annual payment? (You will need to prepare the first row in the amortization table to determine the amounts.)
Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
Jean deposited P1,000, P1,500 and P2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Note: Interest is already shown in decimal form. Do not round in between solution. Final answer round to the nearest WHOLE NUMBER
Jean deposited P2,000, P2,500 and P3,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Use one of the following formulas. Show complete solution.
Lee Holmes deposited $15,300 in a new savings account at 8% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,300 at 8% interest compounded semiannually.At the end of 6 years, what is the balance in Lee’s account? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Quinn opened an account with an initial deposit of $2500. At the end of the 2nd and 8th years, he deposited $3000 and $5050, respectively while at the end of the 5th year, withdrew $3000. The account earned 2% nominal annual interest compounded semiannually for the first 3 years, 3% annual effective rate of discount for the next 2 years, and 3.5% annual effective interest rate for the remaining time. How much will Quinn have in his account at the end of the 12th year? and determine Quinns average annual rate of return for the 12-year period.
A guy deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.09 per annum. Determine the future worth of the deposit?
Lee Holmes deposited $17,300 in a new savings account at 12% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $42,300 at 12% interest compounded semiannually. At the end of 6 years, what is the balance in Lee’s account? (Do not round intermediate calculations. Round your answer to the nearest cent.) I keep doing exactly what i am supposed to and it keeps telling me I am wrong. The answer I have gotten is 94,812.61
Lee Homes deposited 16,8000 in a new savings account at 7% interest compounded seminannually. At the beginning of year 4, Lee deposits an additional 41,800 at 7% interest compounded semiannually. at the end of 6 years, what is the balance in lee's accou
An engineer deposited her annual bonus of $10,000 into an account that pays interest at 8% per year, compounded semiannually. She withdrew $1000 in months 2, 11, and 23. Now, she wants to know the total value of the account at the end of 3 years. Solve by assuming (a) no interperiod compounding and (b) that interperiod compounding is provided

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