Business, 14.02.2020 05:28 icantspeakengles

John Rider wants to accumulate $85,000 to be used for his daughter’s college education. He would like to have the amount available on December 31, 2021. Assume that the funds will accumulate in a certificate of deposit paying 8% interest compounded annually. (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.)

Answer each of the following independent questions.
Required:
1. If John were to deposit a single amount, how much would he have to invest on December 31, 2016?
2. If John were to make five equal deposits on each December 31, beginning on December 31, 2017, what is the required amount of each deposit?
3. If John were to make five equal deposits on each December 31, beginning on December 31, 2016, what is the required amount of each deposit?

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 03:10

Transactions that affect earnings do not necessarily affect cash. identify the effect, if any, that each of the following transactions would have upon cash and net income. the first transaction has been completed as an example. (if an amount reduces the account balance then enter with negative sign preceding the number e.g. -15,000 or parentheses e.g. (15, cash net income (a) purchased $120 of supplies for cash. –$120 $0 (b) recorded an adjustment to record use of $35 of the above supplies. (c) made sales of $1,370, all on account. (d) received $700 from customers in payment of their accounts. (e) purchased equipment for cash, $2,450. (f) recorded depreciation of building for period used, $740. click if you would like to show work for this question: open show work

Answers: 3

Answer

Business, 22.06.2019 06:30

The larger the investment you make, the easier it will be to: get money from other sources. guarantee cash flow. buy insurance. streamline your products.

Answers: 3

Answer

Business, 22.06.2019 11:40

If kroger had whole foods’ number of days’ sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? round interim calculations to one decimal place and your final answer to the nearest million.

Answers: 2

Answer

Business, 22.06.2019 13:40

After much consideration, you have chosen cancun over ft. lauderdale as your spring break destination this year. however, spring break is still months away, and you may reverse this decision. which of the following events would prompt you to reverse this decision? a. the marginal cost of going to cancun decreases.b. the marginal cost of going to ft. lauderdale decreases.c. the marginal benefit of going to cancun increases.d. the marginal benefit of going to ft. lauderdale decreases.

Answers: 2

Answer

You know the right answer?

John Rider wants to accumulate $85,000 to be used for his daughter’s college education. He would lik...

Questions

Business, 07.03.2020 00:09

A library shelving system has a fi rst cost of $20,000 and a useful life of 10 years. The annual maintenance is expected to be $2,500. The annual bene...