June 2012
Beginner
548 pages
15h 16m
English
book
Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition
by Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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SOLUTION TO EXERCISE D-1
- (1) This is a future value of a single amount problem.
(2) n = 10; i = 8%.
(3) The interest factor from Table 1 is 2.15892.
(4) Future Value = Principal × FV Factor Future Value = $1,000 × 2.15892 Future Value = $2,158.92
- (1) This is a future value of a single amount problem.
(2) n = 10 × 2 = 20; i = 8% ÷ 2 = 4%
(3) The interest factor from Table 1 is 2.19112.
(4) Future Value = Principal × FV Factor Future Value = $1,000 × 2.19112 Future Value = $2,191.12
- We would expect the answer to question 2 to be a little larger than the answer to question 1 because the interest is compounded more frequently in question 2 which means there will be a larger amount of accumulated interest by the end of year 10 in this scenario.
- (1) This is a present value of a single amount problem.
(2) n = 10; i = 8%
(3) The interest factor from Table 3 is .46319.
(4) Present Value = Future Amount × PV Factor Present Value = $1,000 × .46319 Present Value = $463.19
- (1) This is a present value of a single amount problem.
(2) n = 2 × 10 = 20; i = 8% ÷ 2 = 4%.
(3) The interest factor from ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.