Each of the Independent Problems (Show Computations)

question 50

Short Answer

each of the independent problems (show computations):
A.Company A deposited $20,000 in a savings account on January 1, 2009, that will accumulate 6% interest each December 31.
1.What will be the fund balance as of December 31, 2013?
2.How much interest will be earned as of December 31, 2013?
B.Company B needs to accumulate a $50,000 fund by making five equal annual deposits.Assuming a 7% interest accumulation, how much must be deposited at the end of each year?
C.Company C has a new machine that has an estimated life of five years and a $5,000 residual value.Assuming an 8% interest rate, what is the present value of the estimated residual value?
D.Company D owes a $50,000 debt that is now due (January 1, 2011).Arrangements have been made to pay it off in five equal annual installments starting December 31, 2011 (an ordinary annuity situation).

---

Definitions:

Remote Lockout

A security measure that allows administrators to remotely lock access to a device or system to prevent unauthorized use.

Strong Password

A secure and complex password that uses a combination of letters, numbers, and special characters, designed to protect against unauthorized access.

Credit Card Statement

A document issued by a credit card company each billing cycle that details all transactions, fees, and payments made.

Change Of Address

The act of updating one's living or business location information across various personal and professional contacts and services.