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sammy [17]
3 years ago
5

In the interest formulas, a simple interest can be used in any of the single payment formulas as long as the 'n values correspon

d to the interest period?
A) True
B) False
Business
1 answer:
Yuri [45]3 years ago
3 0

Answer:

False

Explanation:

Apart from simple interest, compound interest can be used for single payments

the formula for compound interest is : future value - present value

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

The formula for simple interest : amount x time x interest rate

Assume that 1000 is to be received in 2 years at the interest rate of 10%

Simple interest = 1000 x 2 x 0.1 = 200

Compound interest

1000 x (1.1)^2 = 1210

1210 = 1000 = 210

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3 years ago
On July 1, 20x1, Fox Co. purchased as a held-to-maturity investment $5,000,000 of Owl, Inc.'s 8% bonds for $4,580,000, including
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Answer:

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Explanation:

The carrying amount of bonds = $4,580,000 - $50,000

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Amortization of discount from july 1 to dec 31 (6 months):

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Interest Receivable = $200000

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Discount amortized = $226500 - $200000

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4 0
3 years ago
Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or b
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Answer:

The correct answer is a) Payor Benefit

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