Calculating future values, Financial Accounting

Assignment Help:

Show all support work for your calculations.

1.  Simple Interest versus Compound Interest [LO1]  First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually.  If you made a $6,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of nine years?

2.  Calculating Future Values [LO1] For each of the following, compute the future value:

Present Value

Years

Interest Rate

Future Value

$    2,250

11

13%

 

       8,752

 7

  9%

 

     76,355

14

12%

 

   183,796

 8

  6%

 

 

 


Related Discussions:- Calculating future values

What is auditors report explain, Q. What is Auditors report explain? Sp...

Q. What is Auditors report explain? Special Report - Special report is a term used for Auditors' reports issued in connection with various types of financial presentations, inc

Briarcrest condiments is a spice-making firm, 1. Briarcrest Condiments is a...

1. Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $2,218,246. have a

Difference between a static budget and a flexible budget, XYZ Enterprises m...

XYZ Enterprises manufactures tires for the Formula One motor racing circuit. For August 2011, XYZ budgeted to manufacture and sell 3,000 tires at a variable cost of $74 per tire an

Fully secret trusts-secret trusts-trusts laws, Fully secret trusts This...

Fully secret trusts This is where neither the existence nor the terms of the trust are disclosed in the will. The trust will be enforced only if the following conditions are

Extent of tests of control, Extent of Tests of Control -Every year AUDITOR ...

Extent of Tests of Control -Every year AUDITOR should obtain sufficient evidence about whether company's internal control over financial reporting, including controls for all inter

IAS16, Recognition of PPE

Recognition of PPE

Assingment, Can you do the attached quections by Monday?

Can you do the attached quections by Monday?

Present value of an uneven series, In actual life cash flows occurring abov...

In actual life cash flows occurring above a period of time are frequently uneven. For illustration, the dividends declared through the companies will change from year to year, as s

Which of the following statements is true, Richard Company had 102,000 shar...

Richard Company had 102,000 shares of $5 par value common stock issued and outstanding before repurchasing 10,200 shares for $76,500. Richard had received $2,040,000 cash from shar

Trust accounts-breach of law-trusts accounts, TRUST ACCOUNTS (a) Obje...

TRUST ACCOUNTS (a) Object of trust accounts : To demonstrate that the trust funds have been applied in accordance with the trust instrument; To give details of tra

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd