Question 4 of 9 The maturity value of a savings account that belonged to Peach Company was $44,553.50. The interest charged for the first 2 years was 5% compounded semi- annually, and 4% compounded quarterly for the next 4 years. a. Calculate the amount that was deposited in the savings account at the beginning of the period. $0.00 Round to the nearest cent b. Calculate the total amount of interest earned from this investment. $0.00 Round to the nearest cent

Question 4 of 9 The maturity value of a savings account that belonged to Peach Company was $44,553.50. The interest charged for the first 2 years was 5% compounded semi- annually, and 4% compounded quarterly for the next 4 years. a. Calculate the amount that was deposited in the savings account at the beginning of the period. $0.00 Round to the nearest cent b. Calculate the total amount of interest earned from this investment. $0.00 Round to the nearest cent

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 15E

See similar textbooks

Similar questions

Saved Exercise 9-4 Interest-bearlng notes payable with year-end adjustments LO P1 Keesha Co. borrows $235,000 cash on November 1 of the current year by signing a 90-day, 11%, $235,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Req 4 What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a year. Round final answers to the nearest whole dollar.) es Interest Total through maturity Interest Expense Current Year Expense Following Year Principal Rate (%) Time Total interest
The sum of money $ 1352 deposit in bank in 2 years at 4 % per annum of compound interest is Select one: $ 1642.3 $ 1426.3 $ 1462.3 plirr $ 1246.3
QUESTION 4 SR 3,479 was deposited in a savings account that pays 10 percent interest compounded annually. How much will at the end of the 18 -year period, if a withdraw of SR 9 at the end of the year 1,118 was made?
Assuming a 360-day year, when a $11,918, 90-day, 10% interest-bearing note payable matures, total payment will be a.$13,110 b.$1,192 c.$298 d.$12,216
2 – Time Value of MoneyCalculate the amount of money that will be in each of the following accounts at the end of the given deposit period:Annual Compounding Period DepositAmount Interest (Compounded every PeriodAccount Deposited Rate ___ Months) (Years)Jawa Scottish RM 1,000 10 % 12 10Mawar Berduri 95,000 12 1 1The Piranha 8,000 12 2 2Lea Rose 120,000 8 3 2Bunga Larangan 30,000 10 6 4Lin Suhaimi 15,000
Question text A payment of $400 was made at the end of each year for five years into a savings account. The interest rate on the account is 6% compounded annually. Find the interest earned on the account. a. $254.84 b. $174.89 c. $240.00 d. $200.00
a. Complete an amortization schedule for a $34,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. If an amount is zero, enter "0". Do not round intermediate. calculations. Round your answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 2 3. %24 %24 %24 %24 %24
Assuming a 360-day year, when a $11,200, 90-day, 5% interest-bearing note payable matures, the total payment will be Oa. $560 Ob. $140 Oc. $11,760 Od. $11,340 0 0 0 0
Find the proceeds of a $3691.41, 9.5 yer note bearing interest at 2.3% compounded quarterly discounted 5 years after the date of issue 6.6% coumpounded annually
Question 31 Nelsie Corporation has an outstanding 60- day 6% note receivable armounting to P 15.000 dated December 1 of the current yoar. The company is using the calendar yoar in preparing its financial statomonts. What account should be creditod and what is the amount? Interest Income, P 75 Interest Income, P 900 Oc Accrued Interest Income, P 150 Unearmed Interest Income, P150
18.How much amount should an investor deposit in an account earning a continuously compounded interest rate of 8% for a period of 5 years so as to earn $2,238?A. $1500.B. $1523. C. $1541. Use excel.
Question 9 On 1 Dec. 2020, Segma Trading Co. borrowed $300,000 for 90 days at 5% by signing a note payable on the same amount Required: Select the right journal entry to record the payment of the note at its maturity date. O Dr. Note Payable $300,000 Dr. Interest Payable $2,500 Dr. Interest Expence $1,250 O Dr. Cash Cr. Cash $303,750 Cr. Note Payable $300,000 Cr. Interest Expence $2,500 Cr. Interest Payable $1,250 O Dr. Note Payable $300,000 Dr. Interest Expence $2,500 Dr. Interest Payable $1,250 Cr. Cash $303,750 O Dr. Note Payable $300,000 Dr. Interest Expence $3,750 Cr. Cash $303,750 $303,750