Ekman Company issued $1,000,000, 10-year bonds and agreed to make annual sinking fund deposits of $78,000. The deposits are made at the end of each year into an account paying 5% annual interest. What amount will be in the sinking fund at the end of 10 years?
Answer to relevant QuestionsTerry and Jessica Benedict invested $6,000 in a savings account paying 4% annual interest when their daughter, Kristi, was born. They also deposited $1,000 on each of her birthdays until she was 18 (including her 18th ...Orear Company earns 10% on an investment that will return $480,000 eight years from now. What is the amount Orear should invest now to earn this rate of return?Phil Emley owns a garage and is contemplating purchasing a tire retreading machine for $18,000. After estimating costs and revenues, Phil projects a net cash flow from the retreading machine of $3,300 annually for 8 years. ...On July 17, 2014, Billy Prater borrowed $60,000 from his grandfather to open a clothing store. Starting July 17, 2020, Billy has to make 10 equal annual payments of $8,860 each to repay the loan. Use a financial calculator ...Napa Company’s investments in available-for-sale securities at December 31 show total cost of $202,000 and total fair value of $210,000. Prepare the adjusting entry.
Post your question