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How much money would you have in both bank accounts

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Q1. The Wawaneesa Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $50,000 per year forever. Suppose a sales associate told you the policy costs $550,000. At what interest rate would this be a fair deal?

2. Bank of Baroda pays 4% simple interest on its savings account balances, whereas Canara Bank pays 4% interest compounded annually.

If you made a $12,000 deposit in each bank, how much money would you have in both bank accounts at the end of 7 years?

Q3. The following are some of the 2020 year end account balances for KingFisher Inc.

Cash $85,000

Accounts Receivable $115,000

Gross Sales $33,000

Salary Expense $4,000

Cost of Goods Sold $7,000

Rent Expense $8,000

Inventory $25,000

Salary Payable $1,000

Depreciation $3,000

Net Sales $22,500

Accumulated Depreciation $18,000

Interest Expense $500

Tax rate for the year was 40%

What was KingFisher Inc. Operating Cashflow for the year?

Reference no: EM132699108

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