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ollegr [7]
3 years ago
9

You can save $1,000 per year for the next six years in an account earning 10 percent per year. How much will you have at the end

of the sixth year if you make the first deposit today?
Business
1 answer:
kicyunya [14]3 years ago
8 0

Answer:

At the end of the sixth year, you will have:

= $8,487.17.

Explanation:

a) Data and Calculations:

Annual savings = $1,000

Interest rate per year = 10%

Period of savings = 6 years

First deposit = today

From an online financial calculator:

N (# of periods)  6

I/Y (Interest per year)  10

PV (Present Value)  0

PMT (Periodic Payment)  1000

 

Results

FV = $8,487.17

Sum of all periodic payments $6,000.00

Total Interest $2,487.17

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Financial statement account identification mark each of the accounts listed in the following table as follows.
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Answer:

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Accounts payable                      BS                                        CL

Accounts receivable                  BS                                          CA

Accruals                                     IS and BS                             income and SE        

Accumulated amortization        BS                                       FA

administrative expenses            IS                                      E

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Intrest expenses                                IS                                     E

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7 0
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Want to know how would keynesian and neoclassical economics propose dealing with cyclical unemployment? Read here: brainly.com/question/28213854

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