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Question 1: Sammy has an annuity that pays him 9600 at the beginning of each year. Assume the economy will grow at a rate of 3.1% annually. What is the value of the annuity if he received it now instead of over a period of 10 years ?
Option 1: $ 78,044.65
Option 2: $80,651.16
Option 3: $81,075.98
Option 4: $83,999.29
How much will the student pay each month for 48 months? Show calculations and What effective annual interest rate is being charged? Show calculations.
Create the Journal for the transactions and Post these to the T-accounts and create the Unadjusted trial balance, Make the necessary Adjusted journal entries.
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