Subject: Business    / Accounting
Question

Mr. Ridge wants to invest a certain sum of money at the end of each year for five years. The investment will earn 10% compounded annually. At the end of the fifth year, he will need a total of $30,000 accumulated. What is his approximate required annual investment?

Select one:

a. $5,348

b. $4,914

c. $3,726

d. $4,095

Question 7

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Portland Company wants to invest $1,000 on 1/1/15. The investment will earn 12% compounded semi-annually. What will be the approximate investment amount at 12/31/17?

Select one:

a. $1,340

b. $1,611

c. $1,419

d. $1,191

e. $1,405

Question 8

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Skagway Company purchases a machine on 1/1/17. The four Annual Payments will be $1,000 each January 1, beginning 1/1/17 through 1/1/20 inclusive. Interest Rate is 5% compounded annually. What is the approximate true cost of the machine?

Select one:

a. $3,546

b. $3,723

c. $3,329

d. $4,546

Question 9

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Hyde Park Company opens a savings account and agrees to deposit five $1,000 annual installments beginning one year from the account opening. The computation to determine the value of the account immediately after the fifth deposit is based on the

Select one:

a. Future Value of Annuity

b. Present Value of Annuity

c. Future Value of Annuity Due

d. Present Value of Annuity Due

Question 10

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Janice invests $100,000 in a savings account on 1/1/15. The account pays 5% annual interest through 12/31/18, and 10% thereafter. What is the approximate bank balance on 12/31/20?

Select one:

a. $147,077

b. $177,150

c. $154,081

d. $205,081

e. $140,073

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