Homework Answers
Solution
Determination of the present value of $32,100 to be received five years, if market rate is 6% compounded annually:
Present value = future value x (P/F, i, n)
Market rate of interest, i = 6%
Period, (compounded annually) n = 5
Future value = $32,100
Present value = 32,100 x (P/F 6%, 5)
From the given table, (P/F, 6%, 5) = 0.74726
Present value = 32,100 x 0.74726 = $23,987.05
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Use the following table to answer the question. 6% Periods 5% 7% 10% 0.95238 0.94340 0.93458...
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table.
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semiannually
5
years
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#5
#7
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Find the amount that should be
set aside today to yield the desired future amount. Use the
table.
Future amount needed
Interest rate
Compounding period
Investment time
$2000
3%
semiannually
5
years
Periods Rate per period 4% 5% 6% 8% 10% 0.96154 0.95238 0.94340 0.92593 0.90909 0.92456 0.90703 0.89000 0.85734 0.82645 0.88900 0.86384 0.83962 0.79383 0.75131 0.85480 0.82270 0.79209 0.73503 0.68301 0.82193 0.78353 0.74726 0.68058 0.62092 0.79031 0.74622 0.70496 0.63017 0.56447 0.75992 0.71068 0.66506 0.58349 0.51316 0.73069 0.67684 0.62741 0.54027...
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Compute Bond Proceeds, Amortizing Premium by Interest Method, and Interest Expense Ware Co. produces and sells motorcycle parts. On the first day of its fiscal year, Ware Co, issued $30,000,000 of five-year, 13% bonds at a market (effective) interest rate of 11%, with interest payable semiannually. Compute the following: a. The amount of cash proceeds from the sale of the bonds. Use the tables of present values in Exhibit B and Exhibit 10. Round to the nearest dollar. b. The...
#5
#7
Present Value of Bonds Payable; Premium Moss Co. issued $280,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 10%. Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dollar. Exhibit 5 Present Value of $1 at Compound Interest 10% 0.90909 Periods 1 2 3 4 5 6 7 4% 0.96154 0.92456 0.88900 0.85480 0.82193 0.79031 0.75992 0.73069...
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