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I need your help tutor!
This is how you answer the problem
(a) Identify the Given and the Unknown or what is being asked in the problem
(b)Provide the formula to be used
(c)Plug in the given in the formula if there is a derivation of the formula please show it
(d)Box the final answer. however, the final answer is already included in the problem, what you need to do is to match your answer and the answer in the book. Because in the book they only provide the answer but not the solution.
Ps:Do not give me an answer which is made in ms excel.I need the manual solution, I am not an accountant to understand ms excel solutions.Pls rely as well on the given answers.
Problem:
Step by step
Solved in 2 steps
- 1. Suppose a man receives an initial annual salary of P60,000, increasing at the rate of P5,000 a year. If money is worth 10%, determine his equivalent uniform 1- (1+i) -n. G ,(1+i)" –1 salary for a period of 8 years. (1+i)n- i iSuppose that you have the opportunity to receive $24,000 per year for the next 6 years. Over this time period, the APR is 7% per year. Interest is compounded on a monthly basis. How much are you willing to pay for this investment today? Round your answer to the nearest dollar. a. PVA = $113,739 b. PVA = $118,309 c. PVA = $117,309 d. PVA = $118,903Suppose you earned a $445,000 bonus this year and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years? Select the correct answer. a. $46,164.70 b. $46,170.70 c. $46,161.70 d. $46,167.70 e. $46,173.70
- If you deposit RM25,000 in an account earning an interest of 15% per annum, how much would you have in the account after 10 years? А. RM 92,890 В. RM 125,789 C. RM 168,980 D. RM 101,140Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent. $11,000 for 7 months; money earns 5% A. $10,688.26 B. $10,731.71 C. $311.74 D. $10,476.19For 8 – 10. How long will a principal of P25,000 of Mark will earn an amount of P3,000 when invested at 3% compounded monthly? 8. What is rate of interest for each conversion period (j)? A. 0.0025 B. 0.0075 9. How many conversion periods will cover the investment (n)? А. 22.38 10. How long will he wait to achieve the amount he wanted (t)? A. 3 years and 9 months B. 3 years and 10 months C. 0.015 D. 0.03 В. 32.23 С. 45.39 D. 54.21 C. 9 years and 3 months D. 9 years and 10 months
- Q4. One thousand dollars is due at the end of 2 years and $1,500 at the end of 4 years. If the money is worth j, = 8%, calculate an equivalent single amount at the end of 3 years,Calculate the annual benefits (A) If G = 200$, n = 5 years and i = 11%. Select one: a. 395$ O b. 385$ O c. 358$23. A person wins Euro Dreams, a lottery that pays 20.000 € per month for 30 years. If the current annual effective rate is 6%, what is the present value of his winnings? (consider the payments at the end of each period)
- Q4. One thousand dollars is due at the end of 2 years and $1,500 at the end of 4 years. If the money is worth , = 8%, calculate an equivalent single amount at the end of 3 years,What will be the future worth of money after 1 year, if the sum of P25,000 is invested today at a rate of 1% per month? A) P28,170 B P25,250 P30,100 P29,010How much would you invest today in order to receive $30,000 in each of the following (for further Instructions on present value In Excel, see Appendix C): A. 10 years at 9% B. 8 years at 12% C. 14 years at 15% D. 19 years at 18%