Deposit today to fulfill its obligation to brad

Assignment Help Financial Accounting

Reference no: EM131202451

Ajax Corporation has hired Brad O’Brien as its new president. Terms included the company’s agreeing to pay retirement benefits of $17,400 at the end of each semiannual period for 11 years. This will begin in 3,650 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Brad? (Use 365 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) (I got $119348.46 but it's incorrect)

Deposit amount $

Reference no: EM131202451

Questions Cloud

Profit center for performance evaluation purposes : Bradbo owned two adjoining restaurants, the Pork Palace and the Chicken Hut. Each restaurant was treated as a profit center for performance evaluation purposes. Although the restaurants had separate kitchens, they shared a central baking facility. Th..

Write description of a particular type of public trust crime : Write a description of a particular type of public trust crime.- Discuss and address any laws pertaining to the topic chosen.

Calculate the balance in the retained earnings account : The following account balances were taken from XYZ Company's 2005 balance sheets: January 1, 2005 December 31, 2005 Accounts payable ? Calculate the balance in the retained earnings account at January 1, 2005.

Calculate the mass of 3 moles of glycine : Glycine, an amino acid used by organisms to make proteins, is represented by the following molecular model.

Deposit today to fulfill its obligation to brad : Ajax Corporation has hired Brad O’Brien as its new president. Terms included the company’s agreeing to pay retirement benefits of $17,400 at the end of each semiannual period for 11 years. This will begin in 3,650 days. If the money can be invested a..

Write the balanced chemical equations : the decomposition of solid calcium hydroxide into solid calcium(II) oxide (lime) and water vapor

What are the broad steps in workforce or hr planning : What are the broad steps in workforce/hr planning? (hint is that it is also at the beginning of the chapter) Why is it important to understand the overall organization's strategy when completing an HR/workforce plan?

Explain elements of murder : Explain elements of murder, including what is required to convict someone of attempt to commit murder.- Explain whether Mr. Assin is guilty of attempted murder of Sally's husband.

Calculate cost per equivalent unit for the month : Input to process Y in June was 5000 units of direct materials from Process X,costing $27500 and added materials costing $2080.Direct labor costs in process Y were $4000 and production overhead was $8000.Output from the process was 4000 units. Calcula..

User Account

All Pages