Chapter 6 Quiz winter 2010 - Answer Correct Answer:...

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Question 1 0.5 out of 0.5 points Selected Answer: $56,979 Correct Answer: $56,979 Question 2 0.5 out of 0.5 points Wagster Corporation will invest $25,000 every December 31st for the next six years starting on December 31, 2007. If the fund earns 10%,what amount will be in the fund on December 31, 2012? Answer Selected Answer: Correct Answer: Question 3 0.5 out of 0.5 points On January 2, 2009, Yetti Corporation wishes to issue $2,000,000 (par value) of its 12%, 10-year bonds. The bonds pay interest annually on January 1. The current yield rate on such bonds is 10%. Compute the amount that Yetti will realize from the sale (issuance) of the bonds. Answer Selected Answer: Correct Answer: Question 4 0.5 out of 0.5 points Selected Answer: Correct Answer:
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Question 5 0 out of 0.5 points Wagster Corporation will invest $25,000 every January 1st for the next six years starting on January 1, 2008. If the fund earns 10%,what amount will be in the fund on December 31, 2013?
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Unformatted text preview: Answer Correct Answer: Question 6 0 out of 0.5 points What amount should be recorded as the cost of a machine purchased December 31, 2009, which is to be financed by making 8 annual payments of $11,470 each beginning December 31, 2009? The applicable interest rate is 12%. Answer Correct Answer: $63,816 Question 7 0 out of 0.5 points Correct Answer: Question 8 0.5 out of 0.5 points Selected Answer: Correct Answer: Question 9 0.5 out of 0.5 points Selected Answer: Correct Answer: Question 10 0 out of 0.5 points On January 1, 2009, Annette issued $400,000 of its 6%, 10-year bonds. At the time of issuance the market rate of interest was 8%. Interest is payable semiannually on January 1 and July 1. What amount should Annette report for the issuance of the bonds? Answer Correct Answer:...
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This note was uploaded on 10/19/2010 for the course ACCOUNTING Finance 23 taught by Professor Bob during the Winter '10 term at Wayne State University.

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Chapter 6 Quiz winter 2010 - Answer Correct Answer:...

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