What is the amount of the payments that ned winslow must

Assignment Help Accounting Basics

Reference no: EM13600021

Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns.
Question Details(Various Time Value Situations) Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns.

(a) What is the amount of the payments that Ned Winslow must make at the end of each of 8 years to accumulate a fund of $90,000 by the end of the eighth year, if the fund earns 8% interest, compounded annually?

(b) Robert Hitchcock is 40 years old today and he wishes to accumulate $500,000 by his sixty-fifth birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his fortieth through his sixty-fourth birthdays. What annual deposit must Robert make if the fund will earn 12% interest compounded annually?

(c) Diane Ross has $20,000 to invest today at 9% to pay a debt of $47,347. How many years will it take her to accumulate enough to liquidate the debt?

(d) Cindy Houston has a $27,600 debt that she wishes to repay 4 years from today; she has $19,553 that she intends to invest for the 4 years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt?

Reference no: EM13600021

Questions Cloud

The property plant and equipment account is stated at cost : you are reviewing the december 31 2011 financial statements of ellies antiques that is considering an initial public

Pacific airlines has three service departments ticketing : pacific airlines has three service departments ticketing baggage handling and aircraft maintenance. costs of these

Cody doerr transferred cash from a personal bank account to : on october 1 2010 cody doerr established banyan realty which complteted the following transactions during the montha.

Calculate the cost and schedule variances and indexes cv sv : the following data were obtained from a project to design a new software package activity duration predecessors

What is the amount of the payments that ned winslow must : using the appropriate interest table provide the solution to each of the following four questions by computing the

If abc staffing believes it can charge 80 per hour instead : abc staffing company has been traditionally focused on legal and accounting staffing and is dterming if it should start

Pre-tax income 12000 total operating expense not including : pre-tax income 12000 total operating expense not including income tax 20000 sales revenue 120000 beginning balance 8000

Using either of these two numbers discuss the status of the : a project has been estimated to take eight weeks and cost 65000. the critical path is a - d. cost and earned value data

Lim clothing company manufactures its own designed and : lim clothing company manufactures its own designed and labeled sports attire and sells its products through catalog

User Account

All Pages