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ki77a [65]
3 years ago
14

To pay for her college education, Gina is saving $2,000 at the beginning of each year for the next eight years in a bank account

paying 12 percent interest. How much will Gina have in that account at the end of 8th year?
A. $16,000
B. $17,920
C. $24,600
D. $27,552
Business
1 answer:
ANEK [815]3 years ago
6 0

Answer:

D. $27,552

Explanation:

Saving per year = PMT = $2,000

Interest rate = r = 12%

Number of year = n = 8

Use following formula to calculate future value of Gina's Investment at the end of 8th year.

FV = PMT [( ( 1 + r )^n ) - 1) x ( 1 + r ) ) / r]

FV = $2000 x [( ( 1 + 0.12 )^8 ) - 1 x ( 1 + 0.12 ) ) / 0.12]

FV = 27,551.31 (Close to 27,552)

So, the correct option is D. $27,552

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Verbal communication in the workplace.

Explanation:

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Smiley Industrial Goods has $1,000 face value bonds on the market with semiannual interest payments, 13.5 years to maturity, and
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Answer:

Annual Coupon rate =  66.56990711 / 1000 = 0.06656990711 or 6.656990711% rounded off to 6.66%

Option B is the correct answer

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,

Coupon Payment (C) = C

Total periods (n) = 13.5 * 2 = 27

r or YTM = 0.064 * 6/12 = 0.032 or 3.2%

The formula to calculate the price of the bonds today is attached.

We will first calculate the value of semi coupon payment  made by the bond.

1023 = C * [( 1 - (1+0.032)^-27) / 0.032]  + 1000 / (1+0.032)^27

1023 = C * 17.8994796  +  427.2166529

1023 -  427.2166529  =  C * 17.8994796

595.7833471 / 17.8994796  =  C

C = 33.28495355 rounded off to 33.28

The annual coupon payment will be = 33.28495355 * 2 = 66.56990711 rounded off to 66.57

Annual Coupon rate =  66.56990711 / 1000 = 0.06656990711 or 6.656990711% rounded off to 6.66%

4 0
2 years ago
A key use of a customer survey used in the operations consulting phase of problem definition is customer loyalty analysis. True
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Answer: True

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8 0
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The primary purpose of managerial accounting is to prepare financial statements in accordance with a reporting framework (e.g. G
Contact [7]

Answer:

False.

Explanation:

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