ANSWERS Homework 6 App B

ANSWERS Homework 6 App B - The University of Texas at...

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The University of Texas at Austin McCombs School of Business ACC 310F: Foundations of Accounting Homework #6 Once you have completed the assignment below, you must enter your answers in the Assignments section of Blackboard on the answer sheet provided. Your answer sheet is due by 8am on Monday, December 1, 2008; print or save your confirmation page to verify that your assignment was successfully submitted. If you have any clarification questions about the assignment, please post a note on the ACC 310F Class Q&A Discussion Board located in the Communication section of Blackboard. Use the time value of money tables located in Appendix B of the textbook; otherwise, you should round your factor to the nearest 4 decimals places. Your final answer should be rounded to the nearest whole number. 1. You are planning on taking a vacation to Europe in 4 years and want to have a $5,000 available at that time. If your bank pays 5 percent interest on your savings account, how much should you deposit in your account today in order to reach your goal? 0.8227 x 5,000 = 4,114
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This note was uploaded on 06/07/2011 for the course ACC 310F taught by Professor Verduzco during the Fall '07 term at University of Texas at Austin.

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