Question: Question 2 Part A and B A. Present and future value tables of $1 at 9% are presented below. PV of $1 FV of $1

Question 2 Part A and B

A. Present and future value tables of $1 at 9% are presented below.

PV of $1 FV of $1 PVA of $1 FVAD of $1 FVA of $1
1 0.91743 1.09000 0.91743 1.0900 1.0000
2 0.84168 1.18810 1.75911 2.2781 2.0900
3 0.77218 1.29503 2.53129 3.5731 3.2781
4 0.70843 1.41158 3.23972 4.9847 4.5731
5 0.64993 1.53862 3.88965 6.5233 5.9847
6 0.59627 1.67710 4.48592 8.2004 7.5233

How much must be invested now at 9% interest to accumulate to $24,000 in three years?

Multiple Choice

  • $14,043.

  • $18,532.

  • $14,310.

  • $18,265.

B. Present and future value tables of $1 at 11% are presented below.

PV of $1 FV of $1 PVA of $1 FVA of $1
1 0.90090 1.11000 0.90090 1.0000
2 0.81162 1.23210 1.71252 2.1100
3 0.73119 1.36763 2.44371 3.3421
4 0.65873 1.51807 3.10245 4.7097
5 0.59345 1.68506 3.69590 6.2278
6 0.53464 1.87041 4.23054 7.9129

Spielberg Inc. signed a $130,000 noninterest-bearing note due in four years from a production company eager to do business. Comparable borrowings have carried an 11% interest rate. What is the value of this debt at its inception?

Multiple Choice

  • $115,700.

  • $144,300.

  • $85,635.

  • $130,000.

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