Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.)PrincipalTimePeriod (years)NominalRate (%)InterestCompoundedCompoundAmountCompoundInterest$8,000415annually$$ 1%Periods1%2%3%4%5%6%7%8%Periods21.0050011.010001.015001.020001.030001.040001.050001.060001.070001.0800011.010031.020101.030231.040401.060901.081601.102501.123601.144901.16640231.015081.030301.045681.061211.092731.124861.157631.191021.225041.25971341.020151.040601.061361.082431.125511.169861.215511.262481.310801.36049451.025251.051011.077281.104081.159271.216651.276281.338231.402551.4693351.030381.061521.093441.126161.194051.265321.340101.418521.500731.5868771.035531.072141.109841.148691.229871.315931.407101.503631.605781.7138281.040711.082861.126491.171661.266771.368571.477461.593851.718191.850931.045911.093691.143391.195091.304771.423311.551331.689481.838461.99900101.051141.104621.160541.218991.343921.480241.628891.790851.967152.1589210111.056401.115671.177951.243371.384231.539451.710341.898302.104852.3316411121.061681.126831.195621.268241.425761.601031.795862.012202.252192.5181712131.066991.138091.213551.293611.468531.665071.885652.132932.409852.7196213141.072321.149471.231761.319481.512591.731681.979932.260902.578532.9371914151.077681.160971.250231.345871.557971.800942.078932.396562.759033.1721715161.083071.172581.268991.372791.604711.872982.182872.540352.952163.4259416171.088491.184301.288021.400241.652851.947902.292022.692773.158823.7000217181.093931.196151.307341.428251.702432.025822.406622.854343.379933.9960218191.099401.208111.326951.456811.753512.106852.526953.025603.616534.3157019201.104901.220191.346861.485951.806112.191122.653303.207143.869684.6609620211.110421.232391.367061.515671.860292.278772.785963.399564.140565.0338321221.115971.244721.387561.545981.916102.369922.925263.603544.430405.4365422231.121551.257161.408381.576901.973592.464723.071523.819754.740535.8714623241.127161,269731.429501.608442.032792.563303.225104.048935.072376,34118246789으

Given data; Principal = $ 8000 Period ( years) = 4 Nominal rate = 15% compounding frequency =…

Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded Compound Amount Compound Interest $8,000 4 15 annually $ $

Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded Compound Amount Compound Interest $8,000 4 15 annually $ $

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Current Liabilities And Payroll

Section: Chapter Questions

Problem 10.23EX

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Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.)

Principal	Time Period (years)	Nominal Rate (%)	Interest Compounded	Compound Amount	Compound Interest
$8,000	4	15	annually	$	$

1%
Periods
1%
2%
3%
4%
5%
6%
7%
8%
Periods
2
1.00500
1
1.01000
1.01500
1.02000
1.03000
1.04000
1.05000
1.06000
1.07000
1.08000
1
1.01003
1.02010
1.03023
1.04040
1.06090
1.08160
1.10250
1.12360
1.14490
1.16640
2
3
1.01508
1.03030
1.04568
1.06121
1.09273
1.12486
1.15763
1.19102
1.22504
1.25971
3
4
1.02015
1.04060
1.06136
1.08243
1.12551
1.16986
1.21551
1.26248
1.31080
1.36049
4
5
1.02525
1.05101
1.07728
1.10408
1.15927
1.21665
1.27628
1.33823
1.40255
1.46933
5
1.03038
1.06152
1.09344
1.12616
1.19405
1.26532
1.34010
1.41852
1.50073
1.58687
7
1.03553
1.07214
1.10984
1.14869
1.22987
1.31593
1.40710
1.50363
1.60578
1.71382
8
1.04071
1.08286
1.12649
1.17166
1.26677
1.36857
1.47746
1.59385
1.71819
1.85093
1.04591
1.09369
1.14339
1.19509
1.30477
1.42331
1.55133
1.68948
1.83846
1.99900
10
1.05114
1.10462
1.16054
1.21899
1.34392
1.48024
1.62889
1.79085
1.96715
2.15892
10
11
1.05640
1.11567
1.17795
1.24337
1.38423
1.53945
1.71034
1.89830
2.10485
2.33164
11
12
1.06168
1.12683
1.19562
1.26824
1.42576
1.60103
1.79586
2.01220
2.25219
2.51817
12
13
1.06699
1.13809
1.21355
1.29361
1.46853
1.66507
1.88565
2.13293
2.40985
2.71962
13
14
1.07232
1.14947
1.23176
1.31948
1.51259
1.73168
1.97993
2.26090
2.57853
2.93719
14
15
1.07768
1.16097
1.25023
1.34587
1.55797
1.80094
2.07893
2.39656
2.75903
3.17217
15
16
1.08307
1.17258
1.26899
1.37279
1.60471
1.87298
2.18287
2.54035
2.95216
3.42594
16
17
1.08849
1.18430
1.28802
1.40024
1.65285
1.94790
2.29202
2.69277
3.15882
3.70002
17
18
1.09393
1.19615
1.30734
1.42825
1.70243
2.02582
2.40662
2.85434
3.37993
3.99602
18
19
1.09940
1.20811
1.32695
1.45681
1.75351
2.10685
2.52695
3.02560
3.61653
4.31570
19
20
1.10490
1.22019
1.34686
1.48595
1.80611
2.19112
2.65330
3.20714
3.86968
4.66096
20
21
1.11042
1.23239
1.36706
1.51567
1.86029
2.27877
2.78596
3.39956
4.14056
5.03383
21
22
1.11597
1.24472
1.38756
1.54598
1.91610
2.36992
2.92526
3.60354
4.43040
5.43654
22
23
1.12155
1.25716
1.40838
1.57690
1.97359
2.46472
3.07152
3.81975
4.74053
5.87146
23
24
1.12716
1,26973
1.42950
1.60844
2.03279
2.56330
3.22510
4.04893
5.07237
6,34118
24
6789으

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