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1. A loan was repaid in five years by end-of-quarter payments of $1,200 at 9.5% compounded semi-annually. How much interest was paid? 2. A mortgage of $95,000 is to be amortized by monthly payments over 25 years. If the payments are made at the end of each month and interest is 8.5% compounded semi-annually, what is the size of the monthly payments? (3 marks) 3. A $45,000 mortgage is repaid in 20 years by making monthly payments of $387.72. What is the nominal annual rate of interest compounded semi-annually? 4. What is the size of monthly deposits that will accumulate to $67,200 after eight years at 6.5% compounded semi-annually? 5. Joy would like to receive $6,000 at the end of every 3 months for 10 years after her retirement. If she retires now and interest is 6.5% compounded semi-annually, how much must she deposit into an account? 6. Find the present value of payments of $960 made at the beginning of every month for seven years if money is worth 6% compounded monthly. 7. Bruce needs construction tools and equipment to start his new job. He has signed a lease contract valued at $5,200, and will make payments of $270 at the beginning of every three months for six years. What is the nominal annual rate of interest compounded quarterly charged on the lease? 8. A lease requires monthly payments of $950 due in advance. If interest is 12% compounded quarterly and the term of the lease is five years, what is the cash value of the lease? 9. Elsie Shen wants to withdraw $6,000 at the beginning of every 3 months for 20 years, starting at the date of her retirement. If she retires in 18 years and interest is 4.68% compounded quarterly, how much must she deposit into an account every quarter for the next 18 years, starting now? 10. New Brunswick Bank pays a quarterly dividend of $0.75 per share. If comparable investments yield 4.16% compounded monthly, what is the sales value of the shares?
Thibodeau Company has the following merchandise account balances: Sales Revenue $195,000, Sales Discounts $2,000, Cost of Goods Sold $117,000, and Inventory $40,000. Prepare the entries to record the closing of these items to Income Summary.
Which of the following is an example of direct materials cost for an automobile manufacturer?
In what ways are Weber's and Fayol's ideas about bureaucracy and administration similar? In what ways do they differ? Which of Weber's and Fayol's principles seem most relevant to the creation of an ethical organization?
Sales Returns and Allowances $3,000; Freight-out $1,000; and Purchase Returns and Allowances $2,000.The ending merchandise inventory is $25,000. Prepare a cost of goods sold section for the year ending August 31 (periodic inventory).
lauer company reported net income of 66800 on sales of 300000. the company has total assets of 500000 and total
Tax depreciation for the year exceeded book depreciation by $50,000. The tax rate for Year 3 was 30%, and Congress enacted a tax rate of 40% for years after Year 3. What is the deferred tax reported on William's December 31, Year 3, balance sheet?
Describe the direct and indirect technique in quoting foreign currencies. Provide some examples.
campbell is launching a new product line in year 12 and wants your expert opinion on the effect of the new launch on
You have gone to the bank to borrow money for one year. The nominal rate is 7.5%. The real rate of interest is 4%. Over the course of the year, overall prices increased by 4%. This rate of inflation hurt the _____ because the actual rate of inflat..
On October 1, Kosko declares anddistributes a 10% stock dividend when the market value of the stockis $15 per share. Compute the book value per share (1) before the stock dividend and (2) after the stockdividend.
prepare journal entries to record the following production activities for sherman manufacturing.a. dec. 28incurred
Tones Company purchased a warehouse in a downtown district where land values are rapidly increasing. Gerald Carter, controller, and Wilma Ankara, financial vicepresident, are trying to allocate the cost of the purchase between the land and the bui..
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