What will be the balance in a fun, Accounting Basics

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What will be the balance in a fun

Use the following 8% interest factors for questions 39 through 40:

Present Value of Ordinary Annuity Future Value of Ordinary Annuity

7 periods 5.2064 8.92280

8 periods 5.7466 10.63663

9 periods 6.2469 12.48756

1. What will be the balance on September 1, 2010 in a fund which is accumulated by making $24,000 annual deposits each September 1beginning in 2003, with the last deposit being made on September 1,2010? The fund pays interest at 8% compounded annually.

a. $255,279

b. $214,148

c. $181,440

d. $137,918

2. What amount should be recorded as the cost of a machine purchased December 31, 2006, which is to be financed by making 8 annual payments of $8,000 each beginning December 31,2007? The applicable interest rate is 8%.

a. $56,000

b. $49,975

c. $85,093

d. $45,973

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Accounting Basics: What will be the balance in a fun

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Recent Questions Asked Accounting Basics

Q : What is the pension expense that cooper enterprises

Q : Compute the target cost

Q : How business be operated under target customers

Q : Explain a predistribution plan for the partnership

Q : What will be the balance in a fun

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Q : The overall overstatement or understatement of net income

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Request for Solution File

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Accounting Basics: What will be the balance in a fun

Reference No:- TGS0554608

Recent Questions Asked Accounting Basics

Q : What is the pension expense that cooper enterprises

Q : Compute the target cost

Q : How business be operated under target customers

Q : Explain a predistribution plan for the partnership

Q : What will be the balance in a fun

Q : What is the basis of the residence

Q : The overall overstatement or understatement of net income

Q : What are the variable expenses per unit

Q : Calculate the production cost per unit

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