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PtichkaEL [24]
3 years ago
9

Compute the future value in year 9 of a $2,000 deposit in year 1, and another $1,500 deposit at the end of year 3 using a 10 per

cent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Business
1 answer:
Tom [10]3 years ago
5 0

Answer:

Future value is $ 6,944.52.

Calculation:

Year 9 of a $2,000 deposit in year 1

This can be calculated using compounding formula given below.

Year 9 value = present value (1+I%)^period

Year 9 value = 2,000 (1+10%)^8

Year 9 value = $ 4,287.18-A

$1,500 deposit at the end of year 3

This can also be calculated using compounding formula given below.

Year 9 value = present value (1+I%)^period

Year 9 value = 1,500 (1+10%)^6

Year 9 value = $ 2,657.34-B

Combined Value = A+B = $ 6,944.52

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3 years ago
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4 0
2 years ago
Phipps Company borrowed $25,000 cash on October 1, 2016, and signed a nine-month, 8% interest-bearing note payable with interest
anzhelika [568]

Answer:

The correct option is C,$500

Explanation:

The amount of interest accrual is the interest on the sum borrowed from October 1 2016 to 31 December 2016,that is 3 months of interest,which is computed below:

Accrued interest =principal*stated interest rate*number of accrued months/12

principal is $25,000

stated interest is 8%

number of accrued months is 3

accrued interest =$25,000*8%*3/12=$500

The accrued interest is to be debited interest expense  because it is an increase in expense  and credited to interest payable as a liability

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3 years ago
If the performance evaluations that salespeople receive are based solely on sales revenue to the exclusion of other important fa
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Answer:

c. criterion deficiency

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60 points please help
Trava [24]

Answer:

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8 0
3 years ago
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