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Lapatulllka [165]
3 years ago
9

Jeannie plans to deposit $6,000 in a money market sinking fund at the end of each year for the next four years. What is the amou

nt that will accumulate by the end of the fourth and final payment if the sinking fund earns 9% interest? (FV of $1, PV of $1, FVA of $1,PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to the nearest whole dollar amount.)
Which of the following statements about annuities are true?
A. The first cash flow of an annuity due is made on the first day of the agreement.
B. The first cash flow of an annuity due is made on the first day of the agreement.
C. The first cash flow of an ordinary annuity is made on the first day of the agreement.
D. The first cash flow of an ordinary annuity is made on the first day of the agreement.
E. The last cash flow of an annuity due is made on the day covered by the agreement.
F. The last cash flow of an annuity due is made on the day covered by the agreement.
G. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.
H. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.
Business
1 answer:
Mnenie [13.5K]3 years ago
5 0

Answer:

A. The first cash flow of an annuity due is made on the first day of the agreement.

G. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

Explanation:

The computation is shown below:

As we know that

Future value after 4 years is

= Annual deposit  × Cumulative FV factor at 9% for 4 periods of an ordinary annuity

= $6,000 × 4.57313

= $27,439

Therefore the above statements are true and the same is to be considered

Hence, all other statements are incorrect

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You sign a contract to purchase a machine that will allow you to travel back in time and meet abraham lincoln. assuming that tim
ddd [48]

The correct option is C). Void contract. It is void type of contract if you sign a contract to purchase a machine that will allow you to travel back in time and meet Abraham Lincoln.

<h3>What is void contract?</h3>

Void contract is a formal contract between two parties, which is not authorized by the law and enforceable from the moment it was created.

A void contract is little differ from the valid contract. Void contract is not an actual contract, despite it is unenforceable.

Both void and voidable contract are null, but a void contract cannot be officially valid.

Learn more about the void contract here:-

brainly.com/question/15274330

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6 0
1 year ago
Vulcan, Inc., has 8.7 percent coupon bonds on the market that have 10 years left to maturity. The bonds make annual payments and
Lana71 [14]

Answer:

$880.72

Explanation:

Bond price will be calculated by following formula

Bond Price = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F x ( 1 + r )^-n ]

Bond Price = $87 x [ ( 1 - ( 1 + 0.107 )^-10 ) / 0.107 ] + [ $1,000 x ( 1 + 0.107 )^-10 ]

Bond Price = $87 x [ ( 1 - ( 1.107 )^-10 ) / 0.107 ] + [ $1,000 x ( 1.107 )^-10 ]

Bond Price = $87 x [ ( 1 - ( 1.107 )^-10 ) / 0.107 ] + [ $1,000 x ( 1.107 )^-10 ]

Bond Price = $518.87 + $361.85

Bond Price = $880.72

6 0
3 years ago
What is the advantage to a multi-criteria analysis?
telo118 [61]

Answer:

c. It is easily adaptable to as many suppliers as you need to evaluate

Explanation:

It involves many factor to analyze a decision due to variety of different assessments it has, it can be applicable to many supplier. It is very helpful to decision making because every aspect of each supplier is analyzed and makes a quality decision. Multi criteria analysis assess every supplier on different factors to find the difference between them and make a best decision.

8 0
3 years ago
Read 2 more answers
Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products.
marysya [2.9K]

Answer:

Allied Merchandisers

Journal Entries:

May  3 Debit Inventory $22,000

Credit Cash $22,000

To record the purchase of goods for cash.

May  5 Debit Accounts receivable (Macy Co.) $15,000

Credit Sales revenue $15,000

To record the sale of goods on credit, terms 2/10, n/60.

Debit Cost of goods sold $11,000

Credit Inventory $11,000

To record the cost of goods sold.

May  7 Debit Sales Returns $1,500

Credit Accounts receivable (Macy Co.) $1,500

To record the return of 100 units.

Debit Inventory $1,100

Credit Cost of goods sold $1,100

To record the cost of goods returned.

May  8 Debit Sales Allowances $700

Credit Accounts receivable (Macy Co.) $700

To record the sales allowance given.

May  15 Debit Cash $12,544

Debit Cash Discounts $256

Credit Accounts receivable (Macy Co.) $12,800

To record the receipt of cash for full settlement of account.

Explanation:

a) Data and Analysis:

May  3 Inventory $22,000 Cash $22,000

May  5 Accounts receivable (Macy Co.) $15,000 Sales revenue $15,000 terms 2/10, n/60.

Cost of goods sold $11,000 Inventory $11,000

May  7 Sales Returns $1,500 Accounts receivable (Macy Co.) $1,500

Inventory $1,100 Cost of goods sold $1,100

May  8 Sales Allowances $700 Accounts receivable (Macy Co.) $700

May  15 Cash $12,544 Cash Discounts $256 Accounts receivable (Macy Co.) $12,800

8 0
3 years ago
arren has a loan with an effective interest rate of 5 percent per annum. He makes payments at the end of each year for 10 years.
Bond [772]

Answer:

interest portion of fifth payment = $66.89 ≈ $67

Explanation:

effective interest rate = 5% yearly

first payment = $200

second payment = $210

third payment = $220

fourth payment = $230

fifth payment = $240

sixth payment = $250

seventh payment = $260

eighth payment = $270

ninth payment = $280

tenth = $290

using a financial calculator, I determined the present value (principal) of the loan = $1,860.87

then I prepared an amortization schedule:

interest portion of fifth payment = $66.89 ≈ $67

Download pdf
6 0
3 years ago
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