FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Adams Inc. will deposit $30,000 in a 6% fund at the end of each year for 8 years beginning December 31, 2017. What amount will be in the fund immediately after the last deposit?
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- If you wish to accumulate $10,000 over a 5-year period by placing $200 a month, starting next month, into a Roth IRA retirement fund that pays 6% per year, compounded quarterly with no interperiod compounding, the NPER function to determine the number of deposits is: (a) = NPER(4.568%,−200,10000) (b) = NPER(1.5%,200,10000) (c) = NPER(1.5%,−600,10000) (d) = NPER(2%,600,−10000)arrow_forwardOn January 15, 2012, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2016, at an estimated cost of $5,000,000. Dolan plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, 2012. Future value factors are as follows: Future value of 1 at 10% for 5 periods 1.61 Future value of ordinary annuity of 1 at 10% for 4 periods 4.64 Future value of annuity due of 1 at 10% for 4 periods 5.11 Dolan should make four annual deposits of Group of answer choices $889,522. $978,474. $1,077,586. $1,250,000.arrow_forwardOn Jan 1, 2020 Walter Co decided to begin accumulating a fund for asset replacement 5 years later The company plans to make 5 annual deposits of $80,000 at 9% each January 1 beg in 2020 What will be the balance in the fund within $10 on Jan 1, 2025 (one year after the last deposit)? The following 9% interest factors may be used $436,000 is my answer is that correct Thank you Brendaarrow_forward
- Georgia deposits $4,000 every three months for five years. The first deposit is made on March 31, 2016, and the last deposit is made on December 31, 2020. The fund earns 16% and interest is compounded quarterly. How much money will Georgia have on December 31, 2020, immediately after her last deposit? Factors for future value of an annuity of $1 are $123,876 $110,034 $119,112 $107,508arrow_forwardA contractor wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide $10,000 at the end of each of the last 5 years of the 20-year period. If interest is 8%, compounded semiannually, what is the required semiannual deposit?arrow_forwardony Inc. will deposit $57,400 in a 4% fund at the end of each year for 6 years beginning December 31, 2020. What amount will be in the fund immediately after the last deposit?arrow_forward
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