Answered: 1. 2. 3. 4. 5. Present Value ? $36,289…

1. 2. 3. 4. 5. Present Value ? $36,289 15,884 46,651 15,376 Future Value $ 40,000 65,000 40,000 100,000 ? 10% ? 8 ? 7 n 5 10 ? 8 20

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

Solving for unknowns; single amounts

● LO5–4

For each of the following situations involving single amounts, solve for the unknown (?). Assume that interest is compounded annually. (i = interest rate, and n = number of years)

1.
2.
3.
4.
5.
Present Value
?
$36,289
15,884
46,651
15,376
Future Value
$ 40,000
65,000
40,000
100,000
?
i
10%
5
? 10
8
?
n
7
?
8
20

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Step 1: Definitions of time value of money and present value

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Step 2: Calculation of Present value of Part 1

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Step 3: Calculation of Interest rate of Part 2

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Step 4: Calculation of number of years of Part 3

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Step 5: Calculation of Interest rate of Part 4

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Step 6: Calculation of Future value of Part 5

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