Homework Answers
Situation 1:
Future Value = Invested Amount * FV of $1 (i%, n)
Future Value = $13,500 * FV of $1 (6%, 16)
Future Value = $13,500 * 2.54035
Future Value = $34,295
Situation 2:
Future Value = Invested Amount * FV of $1 (i%, n)
Future Value = $19,000 * FV of $1 (9%, 9)
Future Value = $19,000 * 2.17189
Future Value = $41,266
Situation 3:
Future Value = Invested Amount * FV of $1 (i%, n)
Future Value = $32,000 * FV of $1 (10%, 14)
Future Value = $32,000 * 3.79750
Future Value = $121,520
Situation 4:
Future Value = Invested Amount * FV of $1 (i%, n)
Future Value = $53,000 * FV of $1 (4%, 10)
Future Value = $53,000 * 1.48024
Future Value = $78,453
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1.51259 1.618 .711 1.55797 1.67535 1.2004 1. 60471 1.73399 1.87293 20 55285 1.79468 1.070 21 0243...
Required information [The following information applies to the questions displayed below.) On January 1, 2021, Fron...
Required information [The following information applies to the questions displayed below.) On January 1, 2021, Frontier World issues $39.3 million of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Required: 1-a. If the market rate is 6%, calculate...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2...
On January 1, 2018, Nguyen Electronics leased equipment from
Nevels Leasing for a four-year period ending December 31, 2021, at
which time possession of the leased asset will revert back to
Nevels. The equipment cost Nevels $836,368 and has an expected
economic life of five years. Nevels expects the residual value at
December 31, 2021, will be $112,000. Negotiations led to the lessee
guaranteeing a $164,000 residual value. Equal payments under the
lease are $212,000 and are due on December...
On January 1, 2021, NFB Visual Aids issued $760,000 of its 20-year, 8% bonds. The bonds...
On January 1, 2021, NFB Visual Aids issued $760,000 of its 20-year, 8% bonds. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. NFB Visual Aids records interest expense at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $636,000 as determined by their market value in the over-the-counter market. General (risk-free) interest rates did...
Exercise 15-21 Lessee; variable lease payments (LO15-2, 15-6) On January 1, 2018, QuickStream Communications leased telephone...
Exercise 15-21 Lessee; variable lease payments (LO15-2, 15-6) On January 1, 2018, QuickStream Communications leased telephone equipment from Diglum, Inc. Diglum's cash selling price for the equipment is $2.177.630. The lease agreement specifies six annual payments of $500,000 beginning December 31, 2018, and at each December 31 thereafter through 2023. The six-year lease is equal to the estimated useful life of the equipment. The contract specifies that lease payments for each year will increase by the higher of (a) the...
TABLE 1 Future Value of $1 FV=$1 (1 + i)n 1.5% n/i 1.0% 2.0% 2.5% 3.0%...
TABLE 1 Future Value of $1 FV=$1 (1 + i)n 1.5% n/i 1.0% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12000 1.13000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 1.16640 1.18810 121000 1.23210 125440 127690 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 1.25971...
TABLE 1 Future Value of $1 FV= $1 (1 + ir n/i 5.5% 1 1.01000 1.01500...
TABLE 1 Future Value of $1 FV= $1 (1 + ir n/i 5.5% 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 .08000 1.09000 1.10000 1.11000 1.12000 .20000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 .16640 1.18810 1.21000 1.23210 1.25440 144000 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 .25971 29503 1.33100 1.36763 1.40493 .72800 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.14752 1.16986 1.19252 1.21551...
TABLE 1 Future Value of $1 FV= $1 (1 + ir n/i 5.5% 1 1.01000 1.01500...
TABLE 1 Future Value of $1 FV= $1 (1 + ir n/i 5.5% 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 .08000 1.09000 1.10000 1.11000 1.12000 .20000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 .16640 1.18810 1.21000 1.23210 1.25440 144000 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 .25971 29503 1.33100 1.36763 1.40493 .72800 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.14752 1.16986 1.19252 1.21551...
On January 1, 2021, Rick’s Pawn Shop leased a truck from Corey Motors for a six-year...
On January 1, 2021, Rick’s Pawn Shop leased a truck from Corey
Motors for a six-year period with an option to extend the lease for
three years. Rick’s had no significant economic incentive as of the
beginning of the lease to exercise the 3-year extension option.
Annual lease payments are $17,500 due on December 31 of each year,
calculated by the lessor using a 6% interest rate. The agreement is
considered an operating lease. (FV of $1, PV of $1,...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
Required information [The following information applies to the questions displayed below.) On January 1, 2021, Frontier World issues $39.3 million of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Required: 1-a. If the market rate is 6%, calculate...
On January 1, 2018, Nguyen Electronics leased equipment from
Nevels Leasing for a four-year period ending December 31, 2021, at
which time possession of the leased asset will revert back to
Nevels. The equipment cost Nevels $836,368 and has an expected
economic life of five years. Nevels expects the residual value at
December 31, 2021, will be $112,000. Negotiations led to the lessee
guaranteeing a $164,000 residual value. Equal payments under the
lease are $212,000 and are due on December...
On January 1, 2021, NFB Visual Aids issued $760,000 of its 20-year, 8% bonds. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. NFB Visual Aids records interest expense at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $636,000 as determined by their market value in the over-the-counter market. General (risk-free) interest rates did...
Exercise 15-21 Lessee; variable lease payments (LO15-2, 15-6) On January 1, 2018, QuickStream Communications leased telephone equipment from Diglum, Inc. Diglum's cash selling price for the equipment is $2.177.630. The lease agreement specifies six annual payments of $500,000 beginning December 31, 2018, and at each December 31 thereafter through 2023. The six-year lease is equal to the estimated useful life of the equipment. The contract specifies that lease payments for each year will increase by the higher of (a) the...
TABLE 1 Future Value of $1 FV=$1 (1 + i)n 1.5% n/i 1.0% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12000 1.13000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 1.16640 1.18810 121000 1.23210 125440 127690 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 1.25971...
TABLE 1 Future Value of $1 FV= $1 (1 + ir n/i 5.5% 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 .08000 1.09000 1.10000 1.11000 1.12000 .20000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 .16640 1.18810 1.21000 1.23210 1.25440 144000 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 .25971 29503 1.33100 1.36763 1.40493 .72800 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.14752 1.16986 1.19252 1.21551...
TABLE 1 Future Value of $1 FV= $1 (1 + ir n/i 5.5% 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 .08000 1.09000 1.10000 1.11000 1.12000 .20000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 .16640 1.18810 1.21000 1.23210 1.25440 144000 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 .25971 29503 1.33100 1.36763 1.40493 .72800 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.14752 1.16986 1.19252 1.21551...
On January 1, 2021, Rick’s Pawn Shop leased a truck from Corey
Motors for a six-year period with an option to extend the lease for
three years. Rick’s had no significant economic incentive as of the
beginning of the lease to exercise the 3-year extension option.
Annual lease payments are $17,500 due on December 31 of each year,
calculated by the lessor using a 6% interest rate. The agreement is
considered an operating lease. (FV of $1, PV of $1,...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
TABLE 1 Future Value of $1 FV = $1(1+i)" 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 1.03000 1.06090 1.09273 1.12551 1.15927 3.5% 4.0% 4.5% 5.0% 5.5% 1.03500 1.04000 1.04500 1.05000 1.05500 1.07123 1.08160 1.09203 1.10250 1.11303 1.10872 1.12486 1.14117 1.15763 1.17424 1.14752 1.16986 1.19252 1.21551 1.23882 1.18769 1.21665 1.24618 1.27628 1.30696 6.0% 7.0%...
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