What will the future value be if open the account

Assignment Help Financial Accounting

Reference no: EM132659151

Ethics Issues

Question 1: Suppose you are in a hurry to get your income tax refund.

Question 2: If you mail your tax return, you will receive your refund in 3 weeks.

Question 3: If you file the return electronically through a tax service, you can get the estimated refund tomorrow.

Question 4: The service subtracts a $50 fee and pays you the remaining expected refund. The actual refund is then mailed to the preparation service.

Question 5: Assume you expect to get a refund of $978.

Question 6: What is the APR with weekly compounding?

Question 7: What is the EAR?

Question 8: How large does the refund have to be for the APR to be 15%?

Question 9: What is your opinion of this practice?

COMPREHENSIVE PROBLEM

Question 10: An investment will provide you with $100 at the end of each year for the next 10 years. What is the present value of that annuity if the discount rate is 8% annually?

Question 11: What is the present value of the above if the payments are received at the beginning of each year?

Question 12: If you deposit those payments into an account earning 8%, what will the future value be in 10 years?

Question 13: What will the future value be if you open the account with $1,000 today, and then make the $100 deposits at the end of each year?

Reference no: EM132659151

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