What amount is in the scholarship account
Course:- Managerial Accounting
Reference No.:- EM13166508

Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Managerial Accounting

A scholarship fund is started on January 1, 2000 with an initial deposit of 100,000 in an account earning i(2)=.08, with interest credited every June 30 and December 31. Every January 1 from 2001 on, the fund will receive a deposit of 5000. The scholarship fund makes payments to recipients totaling 12,000 every July 1 starting in 2000. What amount is in the scholarship account just after the 5000 deposit is made on January 1, 2010?

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Managerial Accounting) Materials
Custom Metal Works Products uses a Job-order costing system. Overhead costs applied to jobs on the basis of machine hours, at the beginning of the year, management estimated t
What client mix will maximize Spencer's monthly commissions, assuming he works 200 hours per month - what are the activity - cost driver rates for the supervision of direct l
Assignment - Excel Workbook Assignment MFE 6100 and Create the amortization schedule for this note in proper format. Label your spreadsheet cell that shows your TVM calcu
Lux Pty Ltd produces a single product,  The company uses a standard costing system. Based on producing 15500 units of product  per month, the standard cost specification.
MT445 - Managerial Economics discussion question - Why does a Starbucks coffeehouse face a downward-sloping demand curve while a dairy farmer has a horizontal demand curve? W
Identify the relevance of the data given in the exercise to the decision about what to do with the obsolete parts. Current sales value for unmodified parts Sales value for m
Lyle O'Keefe invests $30,300 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Lyle withdrew
Using the costs assigned in Requirement 1, calculate the percentage error using the ABC costs as a benchmark. Comment on the value and advantages of this ABC simplification.