FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Pineapple Enterprises has an outstanding liability that will require them to pay Apple Co. $50,000 in 5 years. How much cash would Pineapple need to deposit today into an account, earning 8% interest, compounded quarterly, in order to have the amount needed in 5 years? Select one: O a. $12,532 O b. $33,650 O C. $34,030 d. $45,285 e. None of the above
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Transcribed Image Text:Pineapple Enterprises has an outstanding liability that will require them to pay Apple Co. $50,000 in 5 years. How much cash would Pineapple need to deposit today into an account, earning 8% interest, compounded quarterly, in order to have the amount needed in 5 years? Select one: O a. $12,532 O b. $33,650 O C. $34,030 d. $45,285 e. None of the above
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