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1) If you put $500 in a savings account today at 12% interest, what will it be worth in 5 years? Hint: This is a future value problem! Calculator keystrokes: 500 press PV 12 press i 5 press n to solve ___ press FV 1-a) Try the same problem compounding interest on a quarterly basis! 2) You want $10,000 in your account at the end of 10 years. What do you have to put into your account today in order to achieve your goal if your account pays 8% interest? Hint: This is a present value problem! Calculator keystrokes: 10,000 press FV 8 press i 10 press n to solve ___ press PV ANOTHER HINT: Be sure to clear everything out of financial memory before continuing. (f key, then the fin key; note the clx key only clears the register, not the memory) 2-a) Let's play around with number 2. Take your answer (PV), FV, and n -- and try to solve for i. You should get the answer of 8. Hint: When solving for i or n, be sure to enter either the FV or the PV as a negative or you will get an error. We have just computed two of the four basic time value of money problems -- future value and present value. The next two problems are similar -- they are called annuities. In a story problem, it is easy to detect and annuity. You should look for the words "each" or "every". See if you can detect them in problems 3 and 4, which are similar to Problems 1 and 2: 3) If you put $500 in a savings account at the end of each year at 12% interest, what will it be worth in 5 years? Hint: This is a future value of an annuity problem! Calculator keystrokes: 500 press PMT 12 press i 5 press n to solve ___ press FV 4) If you put $10,000 in your account at the end of every year for 10 years what is it worth now if your account pays 8% interest? Hint: This is a present value of an annuity problem! Calculator keystrokes: 10,000 press PMT 8 press i 10 press n to solve ___ press PV It is fun to play around with the different ways to solve for the above four types of problems. You may be asking yourself, why use a calculator, the tables are just as easy? This is true now, but when we start to do some of the more complex time value of money problems, you will be glad you have your trusty calculator! :-) Excel can do all of these functions as well.
Calculate the flexed budget and the key variances between budgeted and actual results. Reconcile the original budget and present the relationship between the budgeted and the actual profit for the month November.
Since 2010, Holden has owned 100% of Jackson and uses the equity method to account for its investment in Jackson. Holden has a fiscal year end of December 31 and Jackson has a fiscal year end of October 31. The following information is available: Hol..
Calculate the amount of budgeted cash disbursements for July and Tommy Company budgeted the subsequent information for 2012
You represent Michael, who asks whether he must report gain on the transfer. Prepare a letter to Michael and a memorandum for the tax files documenting your response.
The sales revenue from this job is $3,400. For purposes of this action analysis report, direct materials and direct labor should be classified as a Green cost; painting overhead as a Red cost; and office expense as a Yellow cost.
Will the use of IT eliminate the audit trail, making it impossible to trace individual transactions from their origin to the summary total in the financial statements? Explain. How do the American Institute of Certified Public Accountants (AICPA) and..
Calculation of quantitative analysis to support recommendations and Would your answer differ if the cost of the containers were the same
Spark was incorporated as a no profit voluntary health and welfare organization on Jan 1 2015. During the fiscal year ended December 31, 2015 the following transactions occurred: Make all necessary journal entries to record these transactions. Expens..
Determine the indirect labor support costs for each engine using time-driven activity-based costing and Determine the per cent of unused indirect labour compared to available indirect labour hours. Draw conclusions from this analysis.
Perez, CPA, has been asked by a nonpublic company audit entity to perform a nonrecurring engagement involving implementing an IT information and control system. The entity requests that, in setting up the new system and during the period prior to con..
1 a 550000 capital investment proposal has an estimated life of four years and no residual value. the estimated net
What gain or loss is recognized by the corporation when it issues its shares to Dave? What is the basis to the corporation of the property it received from Dave?
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