A contract calls for annual payments of $1,200. Find the present value of the contract, assuming that
Question:
A contract calls for annual payments of $1,200. Find the present value of the contract, assuming that
(1) The number of payments is 7 and the current interest rate is 6 percent:
(2) The number of payments is 14 and the current interest rate is 6 percent
(3) The number of payments is 7 and the current interest rate is 8 percent
(4) The number of payments is 14 and the current interest rate is 8 percent
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
Payments Rate Factor from Table 2 Present Value of 120...View the full answer
Answered By
Shubhradeep Maity
I am an experienced and talented freelance writer passionate about creating high-quality content. I have over five years of experience working in the field and have collaborated with several renowned companies and clients in the SaaS industry.
At Herman LLC, an online collective of writers, I generated 1,000+ views on my content and created journal content for 100+ clients on finance topics. My efforts led to a 60% increase in customer engagement for finance clients through revamping website pages and email interaction.
Previously, at Gerhold, a data management platform using blockchain, I wrote and published over 50 articles on topics such as Business Finance, Scalability, and Financial Security. I managed four writing projects concurrently and increased the average salary per page from $4 to $7 in three months.
In my previous role at Bernier, I created content for 40+ clients within the finance industry, increasing sales by up to 40%.
I am an accomplished writer with a track record of delivering high-quality content on time and within budget. I am dedicated to helping my clients achieve their goals and providing exceptional results.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
A contract calls for annual payments of $600. Find the present value of the contract, assuming (1) The number of payments is 7 and the current interest rate is 6 percent, (2) The number of payments...
-
A contract calls for annual payments of $2,400. Find the present value of the contract, assuming that (1) The number of payments is 7 and the current interest rate is 6 percent; (2) The number of...
-
Find the present value of payments of $375 made at the end of every 6 months for 15 years if money is worth 7% compounded semi-annually.
-
In Problems 3944, make the indicated conversions. a. 1 mm b. 1 mm = c. 1 m d. 1 m = m mm cm km
-
What are the two depreciation conventions that apply to tangible personal property under MACRS? Explain why Congress provides two methods.
-
Evaluate the success of Ziks investment program for Patel in terms of: i. goal achievement. ii. process consistency. iii. portfolio performance. After every regular monthly rebalancing, Zik sends an...
-
Using the same parameters as in Example 15.2. find the value of the 5-month call if the initial value of the stock is \(\$ 63\). Hence estimate the quantity \(\Delta=\triangle C / \Delta S\)....
-
In a statement to Gillettes shareholders, Chairman and CEO James Kilts indicated, Despite several new product launches, Gillettes advertising-to-sales declined dramatically . . . to 6.5 percent last...
-
Image transcription text Moist air flow through a duct which contains a heating element. The moist air enters at 95 kPa, 12 C and (I) = 30%; the flow rate is 6 m3/min. Air leaves the heating element...
-
Marvelous Music provides music lessons to student musicians. Some students pay in advance for lessons; others are billed after lessons have been provided. Advance payments are credited to an account...
-
A contract calls for a lump-sum payment of $15,000. Find the present value of the contract, assuming that (1) The payment is due in five years and the current interest rate is 9 percent; (2) The...
-
Robert Baka owns a service station and has the opportunity to purchase a car-wash machine for $30,000. After carefully studying projected costs and revenues, Baka estimates that the car-wash machine...
-
The following 2019 information is available for Payne Company: Partial additional information: The net income for 2019 totaled $1,600. During 2019, the company sold, for $390, equipment that cost...
-
Which of the following best describes the corporate governance responsibilities of members of the board of directors? A. Establish long-term strategic objectives for the company. B. Ensure that at...
-
What advantage accrues to businesses that qualify for tax-exempt contributions?
-
Are the statements identified as Concept 3 and Concept 4 correct? A. No for Concepts 3 and 4. B. No for Concept 3, but yes for Concept 4. C. Yes for Concept 3, but no for Concept 4. Linda Pyle is...
-
Which of the following is the most effective action for the board to take to address their oversight responsibilities concerning the hedge funds proxy voting? A. Establish corporate values and...
-
Which of the following would best complete the objectives of corporate governance for the CEO? A. Ensure that assets of the company are used efficiently and productively and in the best interests of...
-
Investigate and report the main safety issues emphasized in a country of your choice other than the United States. You can search the Internet for this exercise.
-
Chicago Company sold merchandise to a customer for $1,500 cash in a state with a 6% sales tax rate. The total amount of cash collected from the customer was $558. $600. $642. $636. Nevada Company...
-
Silver iodide is very insoluble in water. A common method for increasing its solubility is to increase the temperature of the solution containing the solid. Estimate the solubility of AgI at 85C.
-
Ohfir Corporation has received an order for handheld computers from Townsend, LLC. A partially complete bill of activities for that order follows. Fill in the missingdata. Ohfir Corporation Bill of...
-
The numbered items that follow are concepts that underlie value-based systems, such as ABM and lean operations. Match each concept to the related lettered element(s) of a lean operating environment....
-
Identify which of the following exist in a traditional manufacturing environment and which exist in a JIT operating environment: a. Large amounts of inventory b. Complex manufacturing processes c. A...
-
Assignment 1 1. Write a program to implement the following formula for a -10 and b = 4; result = (a + 2b - 4ab)^4 // ^4 means to the power of 4 (1 mark) 2. Write a program to implement result = sin...
-
I have most of it done, I just need help fixing some things. import java.util.Scanner; public class Main { private String[] database; private Scanner input; public Main() { database = new...
-
Part 2 - WeatherMonitor Suppose you observe daily temperatures and want to know how hot each day is compared to recent days. That is, you want to: keep track of daily temperature values and know for...
Study smarter with the SolutionInn App