The Following Table Values Are Provided for Use in Solving

question 125

Essay

The following table values are provided for use in solving the following independent problems (show computations):
*Ordinary annuity
A.Company A deposited $20,000 in a savings account on January 1,19A that will accumulate 6% interest each December 21.
1.What will be the fund balance at the end of Year 5
2.How much interest will be earned by the end of Year 5?
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 the year?
C.Company C has 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 1,19A).Arrangements have been made to pay it off in five equal annual installments,starting December 31,19A (an ordinary annuity situation).

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