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1. Simple Interest versus Compound Interest [LO1] First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a $6,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of nine years?
2. Calculating Future Values [LO1] For each of the following, compute the future value:
Present Value
Years
Interest Rate
Future Value
$ 2,250
11
13%
8,752
7
9%
76,355
14
12%
183,796
8
6%
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CHARACTERISTICS OF PARTNERSHIP
Montana Company signs a five-year capital lease with Elway Company for office equipment. The yearly lease payment is $20,000, and the interest rate is 8%. 1. Compute the cu
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Select a publicly traded company for which an Accounting and Auditing Enforcement Release (AAER) was published on the U.S. Securities and Exchange Commission (SEC) website at http
Craig's Cars has assets of $4,550 and stockholders' equity of $3,200. What is the amount of liabilities? What is the amount of claims?
what is the explanation?
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