## ACCOUNTING- Solve for the unknown number of years in each of the following

4.
value:
2.00 points

Solve for the unknown
number of years in each of the following(Enter rounded answers as directed, but do not use rounded numbers
in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16)):

Present Value

Years

Interest Rate

Future Value

\$

195

9

%

\$

1,105

2,105

7

3,700

47,800

12

387,120

38,650

19

198,212

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Hint #1Hint #2

6.

contains 50 1952 silver dollars.

Required:

purchased them for their face value when they were new, how much will your
collection be worth when you retire in 2058, assuming they appreciate at
an annual rate of 6.1 percent? (Enter rounded answer as directed, but do not use rounded numbers
in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

7.
value:
2.00 points

In 1895, the first
U.S. Open Golf Championship was held. The winnerâs prize money was \$150. In
2011, the winnerâs check was \$1,440,000.

Requirement 1:

What was the annual
percentage increase in the winnerâs check over this period?(Enter rounded answer as directed, but do not
percent rounded to 2 decimal places (e.g., 32.16).)

Annual
percentage

%

Requirement 2:

If the winnerâs prize
increases at the same rate, what will it be in 2045? (Enter your answer in dollars, not millions
of dollars (e.g., 1,234,567). Enter rounded answer as directed, but do
not use rounded numbers in intermediate calculations. Round your
answer to 2 decimal places (e.g., 32.16).)

Prize
money

\$

9.

\$25,000 at graduation in two years. You plan on investing it at 9 percent
until you have \$150,000.

Required:

How long will you wait
as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g.,
32.16).)

Period

years

10.
value:
2.00 points

You need \$75,000 in 10
years.

Required:

If you can earn .57
percent per month, how much will you have to deposit today?(Enter rounded answer as directed, but do not
use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g.,
32.16).)

Amount to
deposit

\$

11.
value:
10.00 points

Assume you deposit
\$5,000 at the end of each year into an account paying 10.8 percent interest.

Requirement 1:

How much money will
you have in the account in 20 years? (Enter rounded answer as directed, but do not use rounded numbers
in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Annuity
future value

\$

Requirement 2:

How much will you have
if you make deposits for 40 years?(Enter rounded answer as directed, but do not use rounded numbers
in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Annuity
future value

\$

12.
value:
10.00 points

Curlyâs Life Insurance
Co. is trying to sell you an investment policy that will pay you and your
heirs \$25,000 per year forever. Assume the required return on this investment
is 6 percent.

Required:

How much will you pay
for the policy?(Enter rounded answer as
directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g.,
32.16).)

Policy
value today

\$

13.
value:
10.00 points

Find the EAR in each
of the following cases.(Enter rounded answers as directed, but do not use rounded numbers
in intermediate calculations. Use 365 days in a year. Enter your answers as a percent
rounded to 2 decimal places (e.g., 32.16).)

Stated Rate (APR)

Number of Times
Compounded

Effective Rate
(EAR)

10

%

Quarterly

%

17

Monthly

%

13

Daily

%

9

Semiannually

%

14.
value:
10.00 points

Find the APR, or
stated rate, in each of the following cases. (Use 365 days in a year.Enter rounded answers
as directed, but do not use rounded numbers in intermediate calculations. Enter your answers as a percent rounded to 2
decimal places (e.g. 32.16).)

Stated Rate (APR)

Number of Times
Compounded

Effective Rate (EAR)

%

Semiannually

14

%

%

Monthly

9

%

Weekly

8

%

Daily

13

15.
value:
10.00 points

Bucher Credit Bank is
offering 4.7 percent compounded daily on its savings accounts. Assume
that you deposit \$4,500 today.

Requirement 1:

How much will you have
in the account in five years? (Enter rounded answer as directed, but do not use rounded numbers
in intermediate calculations. Use 365 days in a year. Round your answer to 2 decimal places (e.g.,
32.16).)

Future
value

\$

Requirement 2:

How much will you have
in the account in 10 years?(Enter rounded answer as directed, but do not use rounded numbers
in intermediate calculations. Use 365 days in a year. Round your answer to 2 decimal places (e.g.,
32.16).)

Future
value

\$

Requirement 3:

How much will you have
in the account in 20 years? (Enter rounded answer as directed, but do not use rounded numbers
in intermediate calculations. Use 365 days in a year. Round your answer to 2 decimal places (e.g.,
32.16).)

Future
value

\$

16.
value:
10.00 points

An investment will pay
you \$75,000 in nine years. Assume the appropriate discount rate is 6 percent
compounded daily.

Required:

What is the present
directed, but do not use rounded numbers in intermediate calculations. Use
decimal places (e.g., 32.16).)

Present
value

\$

17.
value:
10.00 points

You want to buy a new
sports coupe for \$68,500, and the finance office at the dealership has quoted
you a loan with an APR of 5.9 percent for 60 months to buy the car.

Requirement 1:

payments be? (Enter rounded
answer as directed, but do not use rounded numbers in intermediate

Monthly
payment

\$

Requirement 2:

What is the effective
annual rate on this loan?(Enter rounded answer as directed, but do not use rounded numbers
in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places
(e.g., 32.16).)

Effective
annual rate

%

18.
value:
10.00 points

is delinquent on his accounts payable balance. Youâve mutually agreed to a
repayment schedule of \$500 per month. You will charge 1.4 percent per month
interest on the overdue balance.

Required:

If the current balance
is \$17,340, how long will it take for the account to be paid off?(Do not use rounded numbers in intermediate
2 decimal places (e.g., 32.16).)

Number of
months

19.
value:
10.00 points

Assume the appropriate
discount rate for the following cash flows is 7.3 percent.

Year

Cash Flow

1

\$1,200

2

1,100

3

800

4

600

Required:

What is the present
value of the cash flows? (Enter rounded answer as directed, but do not use rounded
places (e.g., 32.16).)

Present
value

\$

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