Reference no: EM132493996
TIME VALUE OF MONEY
Question 1) Edmund invested $3,630 in an account that pays 6 percent simple interest. How much money will he have at the end of five years?
Question 2) Mr. Smith invested a lump sum 28 years ago at 4.05 percent annual interest. Today, he gave his son the proceeds of that investment, totalling $48,613.24. How much did Mr. Smith originally invest?
Question 3) Ms. Joanna deposited $2,500 today at 6.5 percent interest for 15 years. However, her sister, Ms. Jenny can only earn 6.25 percent interest. How much more money must Ms. Jenny deposit today than her sister did if she are to have the same amount saved at the end of the 15 years like Ms. Joanna?
ANNUITY
Question 1) You borrowed $185,000 for 30 years to buy a house. The interest rate is 4.35 percent, compounded monthly. If you pay all of your monthly payments as agreed, how much total interest will you pay on this mortgage?
Question 2) You have been purchasing $12,000 worth of stock annually for the past eight years and now have a portfolio valued at $87,881. What is your annual rate of return?
Question 3) Today, you borrowed $3,200 on a credit card that charges an interest rate of 12.9 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $60?
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What is the status of the contract of sale
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How much did mr smith originally invest
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: What would be the debit to retained earnings for a 10 percent stock dividend? What would be the debit to retained earnings for a 30 percent
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