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Alja [10]
3 years ago
12

Today is your birthday, and you decide to start saving for your college education. You will begin college on your 18th birthday

and will need $4,000 per year at the end of each of the following 4 years. You will make a deposit 1 year from today in an account paying 12 percent annually and continue to make an identical deposit each year up to and including the year you begin college. If a deposit amount of $2,542.05 will allow you to reach your goal, what birthday are you celebrating today
Business
1 answer:
charle [14.2K]3 years ago
3 0

Answer:

yes,a very simple celebration

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Pelzer Printing Inc. has bonds outstanding with 9 years left to maturity. The bonds have a 8% annual coupon rate and were issued
ICE Princess25 [194]

Answer:

9.53%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

NPER - 9 years

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Present value = $910.40

Future value = $1,000

The formula is shown below:

= Rate(NPER;PMT;PV;FV;Type)

The present value come in negative

So, after solving this, the answer would be 9.53%

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Explanation:

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3 years ago
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4 years ago
2. On December 1, a company accepted a $5,000, 4%, 90-day note. How much accrued interest will be recorded as an adjusting entry
uysha [10]

Answer:

B. $16.67

Explanation:

The computation of the accrued interest expense is shown below:

= Notes receivable or Principal × rate of interest × number of days ÷ (total number of days in a year)  

= $5,000 × 4% × (30 days ÷ 360 days)

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We assume there are 360 days in a year

And, the 30 days is calculated from December 1 to December 31

This is the answer and same is not mentioned in the given options

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3 years ago
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