Wava Harrington ACG 2021 Week 5

Wava Harrington ACG 2021 Week 5 - General Instructions 1...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
General Instructions 1. The following worksheet may be used to complete the exercise/problem. You may need to refer to your textbook for additional information. 3. The completed exercise/problem may be printed or e-mailed per direction from your instructor. P9-11A The following situations involve the application of the time value of money concept: 1. Jan Cain deposited $19,500 in the bank on January 1, 1999, at an interest rate of 12% co How much has accumulated in the account by January 1, 2016? Interest rate 12% Years 17 years Future value factor p(1+i)^17 Amount deposited $ 19,500 Amount accumulated $ 133,888 2. Mark Schultz deposited $43,200 in the bank on January 1, 2006. On January 2, 2016, this accumulated to $84,974. Interest is compounded annually on the account. What rate of inte the deposit? Amount deposited $ 43,200 Amount accumulated 84,974 Years 10 years Future value factor 1.967 Interest rate 10% 3. Les Hinckle made a deposit in the bank on January 1, 2009. The bank pays interest at th compounded annually. On January 1, 2016, the deposit has accumulated to $30,000. How m originally deposit on January 1, 2009?
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern