Answer:
PV= $81,947.83
Explanation:
Giving the following information:
Future value= $95,000
Interest rate= 0.03
Number of periods= 5
To calculate the initial investment required to reach the objective, we need to use the following formula:
PV= FV/(1+i)^n
PV= 95,000/(1.03^5)
PV= $81,947.83
Answer:
C $ 596.39
total payment 7,156.68
Interest expense 2,156.68
Explanation:
6,000 - 1,000 = 5,000 amount to finance
We will calcualte the cuota of an annuity of 6 years with semianual payment at 12% annual rate.
PV $5,000.00
time 12 (6 years times 2 payment per year)
rate 0.06 (12% annual we divide by 2 to get semiannual)
C $ 596.39
The total amount paid will be the cuota times the time of the loan:
Total amount paid
596.39 x 12 = 7,156.68
The interest will be the difference between the total amount paid and the principal of the loan
Interest paid
total payment 7,156.68
principal (5,000)
Interest expense 2,156.68
The answer is credit limit
Answer:
a-Dec-31. Dr Utility expense 485
Cr Utility bills payable 485
b-Jan-11. Dr Utility bills payable 485
Cr Cash 485
c-Dec-31. Dr Salary expense 3990
Cr Salary payable 3990
d-Dec-31. Dr bank 51600
Cr Loan payable 51600
e-Dec-31 Dr Interest expense 215
Cr interest payable 215
f-Dec-31 Dr Account receivable 340
Cr Service revenue account 340
g-Dec-31. Dr Cash 6840
Cr Advance Rent 6840
Explanation:
a-Utility expense incurred for the m/o Dec will be paid in Jan.
c- Salaries of 3990 will be paid on Jan of 4 days.
e-Interest expense for the m/o Dec will be (51600*5%=2580/12=215.
f-The service fee is receivable which will be paid on Jan.
g- Advance rent is received from client.
<span>speculating in currency markets</span>
