Chapter 12 -Exercise 06 Sinking Fund - Majors Trucking, Inc. Item needed: 18-Wheel...
| Chapter 12 -Exercise 06 | |||
| Sinking Fund - Majors Trucking, Inc. | |||
| Item needed: | 18-Wheel Transport Truck | ||
| Amount needed: | $118,000 | ||
| Interest rate: | 6% | ||
| Payment made: | Annually for 5 Years | ||
| Sinking Fund Factor: | |||
| Payment |
Periodic Interest |
Periodic Payment |
Balance at |
| End of | |||
| Period | |||
| 1 | |||
| 2 | |||
| 3 | |||
| 4 | |||
| 5 | |||
Homework Answers
| Loan Amount | Interest Rate | Term in Years | Annual Payment |
| $118,000.00 | 6.000% | 5 | $28,012.78 |
| Year | Periodic Interest | Periodic payment | Balance at the end |
| 1 | $7,080.00 | $28,012.78 | $97,067.22 |
| 2 | $5,824.03 | $28,012.78 | $74,878.48 |
| 3 | $4,492.71 | $28,012.78 | $51,358.42 |
| 4 | $3,081.51 | $28,012.78 | $26,427.15 |
| 5 | $1,585.63 | $28,012.78 | $0.00 |
WORKINGS
Add Answer to:
Chapter 12 -Exercise 06 Sinking Fund - Majors Trucking, Inc. Item needed: 18-Wheel...
Sepia Inc. issued bonds for $500,000 that were redeemable in 8 years. They established a sinking...
Sepia Inc. issued bonds for $500,000 that were redeemable in 8 years. They established a sinking fund that was earning 5.75% compounded semi-annually to pay back the principal of the bonds on maturity. Deposits were being made to the fund at the end of every 6 months. a. Calculate the size of the periodic sinking fund deposit. b. Calculate the sinking fund balance at the end of the payment period 10. c. Calculate the interest earned in payment period 11....
Help me Asap!! Pllzzz For the sinking fund below, compute (a) the size of the periodic...
Help me Asap!! Pllzzz
For the sinking fund below, compute (a) the size of the periodic payment and (b) the accumulated balance at the time indicated. Amount of Payment Payments Conversion Term Interest Rate Accumulated Sinking Fund Interval Made At: Period Balance After $9,000 1 month end 5 years 6% monthly payment 42 (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
Sepia Inc. issued bonds for $350,000 that were redeemable in 9 years. They established a sinking...
Sepia Inc. issued bonds for $350,000 that were redeemable in 9 years. They established a sinking fund that was earning 4.49% compounded semi-annually to pay back the principal of the bonds on maturity. Deposits were being made to the fund at the end of every 6 months. a. Calculate the size of the periodic sinking fund deposit. $0.00 Round your answer up to the next cent b. Calculate the sinking fund balance at the end of the payment period 12....
For the sinking fund below, compute (a) the size of the periodic payment and (b) the...
For the sinking fund below, compute (a) the size of the periodic payment and (b) the accumulated balance at the time indicated. Amount of Sinking Fund Payment Interval Payments Made At: Term Interest Rate Conversion Period Accumulated Balance After $7,000 3 months end 9 years 10% quarterly payment 23 (a) The size of the periodic payment is $ nothing. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b)...
A sinking fund amounting to $16,000 is to be created by making payments at the beginning...
A sinking fund amounting to $16,000 is to be created by making payments at the beginning of every 6 months for 5 years. Interest earned by the fund is 9.6% compounded semi-annually. Determine the size of the periodic payment and compute the interest earned during the fourth payment interval. Verify your answer by checking the sinking fund schedule. The size of the payment is $nothing. (Round the final answer to the nearest cent as needed. Round all intermediate values to...
A sinking fund amounting to $21,000 is to be created by making payments at the beginning...
A sinking fund amounting to $21,000 is to be created by making payments at the beginning of every 6 months for 8 years. Interest earned by the fund is 85% compounded semi-annually. Determine the size of the periodic payment and compute the interest eamed during the fifth payment interval. Verify your answer by checking the sinking fund schedule The size of the payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to...
1- In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer
1- In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $275 monthly at 5.6% to accumulate $25,000. _________yr 2- Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $18,000 at 3% for 15 years if...
Periods Compound Present Capital Compound Present Amount Worth Sinking Recovery Amount Worth Factor Factor Fund Factor...
Periods Compound Present Capital Compound Present Amount Worth Sinking Recovery Amount Worth Factor Factor Fund Factor Factor Factor Factor Find F Given Find P Given Find A Given Find A Given Find F Given Find P Given Р F F Р А A F/P PIF A/F AIP FIA PIA N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30...
A company wants to set up a sinking fund to accumulate funds needed in 5 years...
A company wants to set up a sinking fund to accumulate funds
needed in 5 years to purchase new equipment. The cost is estimated
to be $400,000. The company decides to make end-of-quarter
deposits into a fund earning 4% compounded quarterly. Prepare a
sinking fund table for the first four payments.
Complete the table for the first payment. Payment Number Amount of Deposit Interest Earned Total in Account $ (Round to the nearest cent as needed.) Period Interest Rate per...
What is the future value of $8,650 at the end of 7 periods at 8% compounded...
What is the future value of $8,650 at the end of 7 periods at
8% compounded interest? (Round factor values to 5
decimal places, e.g. 1.25124 and final answer to 0 decimal places,
e.g. 458,581.)
The future value
$
Click here to view factor tables
What is the present value of $8,650 due 8 periods hence, discounted
at 6%? (Round factor values to 5 decimal places, e.g.
1.25124 and final answer to 0 decimal places, e.g.
458,581.)
The present value...
Help me Asap!! Pllzzz
For the sinking fund below, compute (a) the size of the periodic payment and (b) the accumulated balance at the time indicated. Amount of Payment Payments Conversion Term Interest Rate Accumulated Sinking Fund Interval Made At: Period Balance After $9,000 1 month end 5 years 6% monthly payment 42 (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
Sepia Inc. issued bonds for $350,000 that were redeemable in 9 years. They established a sinking fund that was earning 4.49% compounded semi-annually to pay back the principal of the bonds on maturity. Deposits were being made to the fund at the end of every 6 months. a. Calculate the size of the periodic sinking fund deposit. $0.00 Round your answer up to the next cent b. Calculate the sinking fund balance at the end of the payment period 12....
A sinking fund amounting to $21,000 is to be created by making payments at the beginning of every 6 months for 8 years. Interest earned by the fund is 85% compounded semi-annually. Determine the size of the periodic payment and compute the interest eamed during the fifth payment interval. Verify your answer by checking the sinking fund schedule The size of the payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to...
Periods Compound Present Capital Compound Present Amount Worth Sinking Recovery Amount Worth Factor Factor Fund Factor Factor Factor Factor Find F Given Find P Given Find A Given Find A Given Find F Given Find P Given Р F F Р А A F/P PIF A/F AIP FIA PIA N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30...
A company wants to set up a sinking fund to accumulate funds
needed in 5 years to purchase new equipment. The cost is estimated
to be $400,000. The company decides to make end-of-quarter
deposits into a fund earning 4% compounded quarterly. Prepare a
sinking fund table for the first four payments.
Complete the table for the first payment. Payment Number Amount of Deposit Interest Earned Total in Account $ (Round to the nearest cent as needed.) Period Interest Rate per...
What is the future value of $8,650 at the end of 7 periods at
8% compounded interest? (Round factor values to 5
decimal places, e.g. 1.25124 and final answer to 0 decimal places,
e.g. 458,581.)
The future value
$
Click here to view factor tables
What is the present value of $8,650 due 8 periods hence, discounted
at 6%? (Round factor values to 5 decimal places, e.g.
1.25124 and final answer to 0 decimal places, e.g.
458,581.)
The present value...
Most questions answered within 3 hours.
-
At a certain temperature, the equilibrium constant, Kc, for this
reaction is 53.3.
H2(g)+I2(g)−⇀↽−2HI(g)Kc=53.3
At this...
asked 39 minutes ago -
Question1 ) The STL provides similiar classes called stack and
queue, both of which gave functions...
asked 1 hour ago -
For Questions 1-4, assume you have 5 bits available:
1. For (positive) integers: What is the...
asked 1 hour ago -
convert grams into vloume with the density of water being at
.997514 g/cm^3 at 23.1 Celsuis...
asked 3 hours ago -
Foreman company obtained a $20,000, 6% loan on May 1, 2018.
Principal and interest will be...
asked 3 hours ago -
5. Problem 11.05 (Discounted Payback)
eBook
Project L costs $60,000, its expected cash inflows are $14,000
per...
asked 4 hours ago -
1. Which of the following is true about politics and health
organizations?
A. Health organizations are...
asked 4 hours ago -
A space vehicle is coasting at a constant velocity of 18.1 m/s
in the +y direction...
asked 5 hours ago -
5) Use the following balanced equation to answer questions
(a)-(i).
3 Cu(s) + 8 HNO3(aq) →...
asked 5 hours ago -
A three-year maturity bond with a 12% annual coupon rate is
currently traded at par $1000...
asked 5 hours ago -
1.
What is the minimum volume to use in the Spec 20 cuvette in order
to...
asked 6 hours ago -
A builder wants to install wall-to-wall carpeting in a living
room of length 8.87 m and...
asked 6 hours ago