What equal annual series of payments must bepaid into a sinking fund to accumulate the followingamounts?(a) $54,000 in 12 years at 7% compounded annually.(b) $38,000 in 15 years at 8% compounded annually.(c) $25,000 in 8 years at 6% compounded annually.(d) $13,000 in 10 years at 10% compoundedannually

What equal annual series of payments must bepaid into a sinking fund to accumulate the followingamounts?(a) $54,000 in 12 years at 7% compounded annually.(b) $38,000 in 15 years at 8% compounded annually.(c) $25,000 in 8 years at 6% compounded annually.(d) $13,000 in 10 years at 10% compoundedannually

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 9RE

See similar textbooks

Similar questions

What equal annual series of payments must be paid into a sinking fund in order to accumulate each of the following given amounts?(a) $28,000 in 12 years at 6% compounded annually.(b)$21,000 in 10 years at 8% compounded annually. (c) $10,000 in 20 years at 7% compounded annually.(d) $15,000 in 11 years at 9% compounded annually.
What equal series of payments must be paid into a sinking fund in order toaccumulate each given amount?(a) $1,700 in 10 years at 8% compounded semiannually when payments aresemiannual.(b) $9,000 in 6 years at 3% compounded quarterly when payments arc quarterly.(c) $4,000 in 2 years at 12% compounded monthly when payments are monthly.
Use the accompanying sinking fund formula to determine the payment needed to reach the accumulated amount. Semiannual payments with 7% interest are compounded semiannually for 7 years to accumulate $18,000
An enterprise needs to set aside a fund to meet the following future annuity payments to an individual: £1450 paid at the beginning of each year for the first 12 years; followed by £1500 paid at the beginning of each year up until year 18 (inclusive). Assuming an effective rate of interest of 5.4% pa throughout the entire period, how much total fund the company needs to hold today in order to meet these payments? no tables, only formulas, please
determine the size of the payments that must be made to a sinking fund in order to accumulate $233,188 if the interest rate is 5.25% compounded quarterly and payments are made for 7 1/4 years. Use TVM solver
Payments of $4,000 are made into a fund at the beginning of each year for ten years. The fund is invested at an annual effective rate of i. The interest generated is reinvested at 13%. The total accumulated value at the end of the ten years is $110,000. Find i. (Round your answer to two decimal places.)
Use the sinking fund formula shown to the right to determine the semiannual payments with 8% interest are compounded semiannually for 4 years to accumulate $24,000.
Use the sinking fund formula shown to the right to determine the semiannual payments with 6% interest are compounded semiannually for 4 years to accumulate $64,000. The semiannual invested payment is $
$150,000 is deposited in a fund that pays 5% annual compound interest for 2 years, 3% annual compound interest for 2 years, and 4% annual compound interest for 2 years. If uniform annual withdrawals occur over the 6-year period, what will be the magnitude of the annual withdrawals? a. $27,689.63b. $28,614.29 c. $28,804.50 d. $29,552.62
sinking fund is established such that $12,000 will be available to replace a facility at the end of 10 years. At the end of 4 years, following the fourth uniform payment , management decides to retire the facility at the end of 9 years of life. At an interest rate of 6 percent, compounded annually, what are the payments during the first 4 and last 5 years?
After contributing $3,415 at the end of every 6 months into an RRSP for the past 30 years, Nasir has accumulated $703,816.63. Determine the daily compounded nominal rate that was associated with the account. (a) 6.95% (b) 7.13% (c) 1.33% (d) 1.12% 2. The effective rate that is equivalent to a nominal rate of 3.25% compounded weekly is: (a) 3.30% (b) 2.31% (c) 1.02% (d) 4.24% 3. Which statement is FALSE? A sinking fund: (a) can be either an annuity due or an ordinary annuity. (b) can be set up to clear a debt. (c) always involves a maturity value. (d) shows in detail how a loan is repaid.
A company project needs to establish a fund within a ten-year period by making annual deposits of ₱78,000, where deposits are to be made at the beginning of each year. If the company board decides to change the plan and prefers to make the deposits at the end of each each instead, what amount should the annual deposits be to completely establish the fund at the end of the 10-year period? Annual interest is at 8.4%