CorBloc Ltd. is setting up a fund to pay back a $22,000,000 debt in 18 years. To

Fantastic news! We've Found the answer you've been seeking!

Question:

CorBloc Ltd. is setting up a fund to pay back a $22,000,000 debt in 18 years. To accumulate this money they will make equal annual deposits at the beginning of each year.Into a fund earning 9% compounded quarterly.

What will be the size of the annual deposits?

Related Book For answer-question

Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

See More Books

Posted Date: Jul 22, 2023 04:39 AM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
In June of 2014, Bill Madden considered expanding his micro tiles business. He planned to invest $2.0 million in 2016 to produce more and better quality plaster or metal tiles and lithographs. These...
Apply KCL at the supernode (circled in green), i.e., write i=0 at the supernode (you don't need to solve the equation, but must label the node voltages) 2023 20 V 10 A V2 302 www + Vy - 692 www VI 4 ...
What does the term activity-based management mean?
In microeconomics, goods for which demand falls when income increases are known as inferior goods. In development economics, evidence shows that when income increases, fertility (births per woman)...
Use the Hubble expansion relation (9.1.1), the temperature scaling relation (9.1.3), and the energy density relation before the electron-positron annihilation (9.3.6b) to show that the temperature as...
Dependable Drivers Driving School charges $250 per student to prepare and administer written and driving tests. Variable costs of $100 per student include trainers wages, study materials, and...
A. Calculate the work, w , (in J) when 8.9 litre of an ideal gas at an initial pressure of 83.1 atm is expanded to a final pressure of 0.66 atm against a constant exteral pressure of 0.66 atm. Assume...
On January 1, 2021, Vacation Destinations issues $40 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Required: 1....
On January 1, 2022, Blight Stones obtained a franchise from Doug Corporation to sell for 20 years Dougs product. The initial franchise fee as agreed upon shall be P6,000,000, and shall be payable in...
Eddie gets his haircut from Lui at Hats Off Barbershop. Prices are listed on a sign Hats Off has posted on the wall. After his hair cut is finished, Eddie tells Lui he is not going to pay for his...
How has family law in relation to separation evolved in response to changing values in the community?
1. Define family law and list at least five ways in which it has evolved since the 1970s. 2. Identify a minimum of three ways in which technology is influencing the practice of family law. 3....
Explain the Family law in Canada and the area it governs. Mention the issues that might seem like it falls under the family law but instead falls under provincial law instead. Elaborate as to why it...
Identify the impact that Family Law has on business Relate aspects of personal and family law with the obligations and contracts of a business.?
Kings Corporation is a calendar year taxpayer. Lou Anne owns all of its stock. Her basis for the stock is $5,000. On April 1 of the current (non-leap) year Kings distributes $55,000 to Lou Anne....
Three successive resonance frequencies in an organ pipe are 1310, 1834, and 2358 Hz. (a) Is the pipe closed at one end or open at both ends? (b) What is the fundamental frequency? (c) What is the...
1. Identify the stage of the life cycle that best describes Cory and Tisha today. What important financial planning issues characterize this stage? 2. Based on the issues identified in Question 1 and...
Match each of the following behaviors with the appropriate bias, as discussed in the chapter. a. Wanda owns shares in Happy Clam Oil Exploration, but due to recent events, the share price is down 30...
What are some of the key financial topics that should be discussed toward the beginning of a serious relationship?
Refer to the revenue arrangement in P18-1. Instructions Consider the following information and respond to the requirements indicated. (a) In response to competitive pressures for the Internet access...
Presented below and on page 946 are three independent revenue arrangements for Colbert Company. Instructions Respond to the requirements related to each revenue arrangement. (a) Colbert sells 3-D...
Van Hatten Consolidated has three operating divisions: DeMent Publishing Division, Ankiel Securities Division, and Depp Advisory Division. Each division maintains its own accounting system. DeMent...

CorBloc Ltd. is setting up a fund to pay back a $22,000,000 debt in 18 years. To

Question:

Expert Answer:

To calculate the size of the annual deposits needed to accumulate 22000000 in 18 years we can use th... View the full answer

Personal Finance Turning Money into Wealth

Students also viewed these finance questions