if the discount (or interest) rate is positive, the future value of an expected series of payments will always exceed the present value of the same series
True
What is a discount(or interest) rate?
An interest rate is the rate of return the present value of the series can over as an interest over the investment time horizon.
On the premise that the interest rate is positive, it means that there would positive value-added over the investment period which increases the present value to ensure that the future value exceeds the present value
In other words, a positive discount or interest ensures a higher future value
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Answer:
The account balance by the end of year 3 will be : $5,283.2
Explanation:
You are planning to deposit $2,000 into an account at the end of year 1 and $3,000 at the end of year 2. The account earns 4% interest.
The account balance at the end of year 1 = $2,000
The account balance at the end of year 2 = $2,000 x (1+4%) + $3,000 = $2,080 + $3,000 = $5,080
The account balance at the end of year 3 = $5,080 x (1+4%) = $5,283.2
A court order that directs an employer to set aside a portion of an employee’s wages to pay a debt owed to a creditor is known as garnishment.
When money is legally withdrawn from your paycheck and given to another person, this is known as garnishment or wage garnishment. It alludes to a legal procedure that directs a third party to take money out of a debtor's paycheck or bank account on their behalf.
The third party also referred to as the garnishee, is frequently the debtor's employer. Employers are not allowed to terminate a worker in order to avoid processing a garnishment payment under federal law. For debts including unpaid taxes, cash penalties, child support obligations, and unpaid student loans, garnishments are used.
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Answer:
Lundholm, Inc
Journal Entries
Date Account Titles Debit Credit
May 1, 18 Cash $500,000
Bonds payable $500,000
(To record the bond issuance)
31 Oct, 18 Interest Expenses $22,500
(500000*9%*6/12)
Cash $22,500
(To record payment of the first semiannual period’s interest)
Nov 1, 19 Bonds payable $300,000
Loss on Bonds $3,000
Cash $303,000
(To record retirement the bonds at 101 on November 1, 2019)
Answer:
B) money.
Explanation:
Characteristics of a negotiable instrument
- Property: the individual or company that possesses the instrument is also considered its owner. Order instruments, e.g. checks, must be endorsed for transfer of property.
- Title: the person that receives title of the instrument is called a transferee and is the holder in due course.
- Rights: the transferee can take legal action to claim the honoring of the instrument.
- Prompt payment: the due holder can anticipate prompt payment because dishonoring the instrument (not paying it) results in the "ruin of credit" of all parties involved in the instrument.
- Monetary value: instruments carry a specific monetary value and must be paid in money.
