Prepare the following journal entry: A local college paid $13,800 by check for a future Bus Tour to Las Vegas for a conference next month.
Q: Parents decide to start saving money for college education with a $1000 initial investment and in 3…
A: Present value = 1,000 quarterly deposit = 700 total deposits = 700 annual rate = 4.75% Quarterly…
Q: Suppose you are starting a PhD program. The university has agreed to waive your tuition, cover all…
A: The objective of this question is to calculate the future value of a series of monthly deposits of…
Q: Megan Berry, a freshman horticulture major at the University of Minnesota, has some financial…
A: The future value function or concept can be used to determine the future value of a present sum or…
Q: y, you graduated from high school. You are planning to go to UH starting 2 years from now after…
A: Amount required today will be the present value of future amount to be paid later based on the time…
Q: You have been accepted into college. The college guarantees that your tuition will not increase for…
A: Understanding the Problem:You've been accepted into college, and the college has guaranteed that…
Q: You have been accepted into college. The college guarantees that your tuition will not increase for…
A: Money deposited today$81488.35Explanation:Step 1:We have to calculate the money we must deposit…
Q: You have been accepted into college. The college guarantees that your tuition will not increase for…
A: We need to calculate the present value of all collage fee by using this formula Present value…
Q: 36) You have been accepted into college. The college guarantees that your tuition will not increase…
A: Present Value of Ordinary Annuity refers to a concept that determines the value of cash flows at…
Q: You have been accepted into college. The college guarantees that your tuition will not increase for…
A: Present Value can be calculated using PV function in excel PV (rate, nper, pmt, [Fv], [type])…
Q: semiannual compounding) guaranteed to remain the same over the next four years. How much money must…
A: Information Provided: APR = 3.6% compounded semi-annually Total number of payments = 8 Size of…
Q: You have just entered college and have decided to pay for your living expenses using a credit card…
A: Future Value is defined as the current asset value at the date of the future on the basis of the…
Q: How much does your client need to contribute to a fund each month for the next 25 years (first…
A: Annuity refers to an amount or stream of equal cash flows (CF) paid or received periodically.…
Q: Jacob and Sophia's dream for their recently born daughter, Emily, is that one day she will attend…
A: Future value (FV) is the value of an investment or cash flow at a specific point in the future,…
Q: You have been accepted into college. The college guarantees that your tuition will not increase for…
A: Present value of annuity formula.PV = A * wherePV = Present value of annuityA = periodic paymentsr =…
Q: You have just entered college and have decided to pay for your living expenses using a credit card…
A: An equal amount paid each period is known as annuity. The future value is the accumulated value of…
Q: A new graduate has taken a job with an annual salary of $60,000. She expects her salary to go up by…
A: The objective of the question is to calculate the salary of a new graduate for the first five years,…
Q: St. Thomas University (STU) plans to build an addition to the Gus Machado School of Business 4 years…
A: The provided information are: Future value (FV) = $8 million Rate (r) = 5% = 0.04 Number of periods…
Q: If Megan's tuition, fees, and expenditures for books this year total $19,000, what will they be…
A: Please note that under answering guidelines only 1 question can be solved. Since multiple questions…
Q: In an effort to save money for early retirement, an environmental engineer plans to deposit $1200…
A: Given information: Monthly deposit of $1,200 for every 6 months Interest rate of 8% per year Number…
Q: Today, you start working for University of Houston as administrative staff. You decided to invest…
A: Variables in the question:DescriptionDataPMT ($)500Rate p.a.6%N (years)35
Q: You have just entered a two-year part-time Executive MBA. The tuition fee is $15,000 per year…
A: Present worth is the difference in present value of cost and present value of cash flow that is…
Q: You are scheduled to graduate from the college student in May. You have received two job offers as…
A: When a person measures the future value of a sum by converting it to its current equivalent…
Q: You have been accepted into college. The college guarantees that your tuition will not increase for…
A: Semiannual tuition fees (S) = $11500 Number of withdrawals (n) = 8 r = 4.4% per annum = 2.2%…
Q: RPS co-op introduced a loyalty program in 2020. every customer who signed up would receive 3% of…
A: Step 1 Journal is the part of book keeping.
Q: St. Thomas University (STU) plans to build an addition to the Gus Machado School of Business 4 years…
A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…
Q: You have just entered an MBA program and have decided to pay for your living expenses using a credit…
A: Monthly charge = $ 1000 Period of monthly charge = 21 months Monthly interest rate = 1% Owe on the…
Q: Megan Berry, a freshman horticulture major at the University of Minnesota, has some financial…
A: future value is the value of current cashflow compounded to a future date. Formula: FV = PV ×1+RN…
Q: D-related restrictions will have been eased. You are also hoping that th ng today, you will begin…
A: Given information : Quarterly deposits $ 600.00 Quarterly rate 1% Number of deposits 9…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Subject - account Please help me. Thankyou.A technology company deposited $62,580 into an account for yearly scholarships to be awarded to business students in Canada. The scholarship will be given at the beginning of every year forever, with the first scholarship to be awarded 4 years after the amount was deposited. What will be the size of these annual scholarships if the interest rate is 6.6% compounded semi-annually? Please include a well - labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions. Round to the nearest cent.On January 1, you win $51,750,000 in the state lottery. The $51,750,000 prize will be paid in equal installments of $5,750,000 over nine years. The payments will be made on December 31 of each year, beginning on December 31 of this year. The current interest rate is 5%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.Open spreadsheetDetermine the present value of your winnings. Round your answer to the nearest dollar $ fill in the blank 2
- A generous alum would like to establish an endowment that would sponsor a student organization's conferences in perpetuity. A one-time cost of $500,000 must be paid today to purchase supplies for the conference. The conference is held once every four years and costs $90,000 . The first conference will take place at the end of year 4 . The alum's gift is invested in an account that earns 4% annually. How much would the alum need to place in the endowment to be able to sponsor the student organization's conferences? [Enter your answer with no dollar sign or comma.]On January 1, you plan to take a trip around the world upon graduation four years from now. Yourgrandmother wants to deposit sufficient funds for this trip in an investment account for you. On thebasis of a budget, you estimate that the trip currently would cost $15,000. Being the generous andsweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of thenext four years, starting on December 31, 2015. The account will earn 6 percent annual interest,which will be added to the account at each year-end.Required (show computations and round to the nearest dollar):1. How much money will you have for the trip at the end of year 4 (i.e., after four deposits)?2. What is the total amount of interest earned over the four years?3. How much interest revenue did the fund earn in 2015, 2016, 2017, and 2018?A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,000 each, with the first payment occurring today, your child's 12th birthday. Beginning on your child's 18th birthday, the plan will provide $25,000 per year for four years What retum is this investment offering?
- A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $16,300 each, with the first payment occurring today, your child’s 12th birthday. Beginning on your child’s 18th birthday, the plan will provide $32,000 per year for four years. What return is this investment offering?On January 1, you plan to take a trip around the world upon graduation four years from now. Your grandmother wants to deposit sufficient funds for this trip in an investment account for you. On the basis of a budget, you estimate that the trip currently would cost $15,000. Being the generous and sweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of the next four years, starting on December 31, 2021. The account will earn 6 percent annual Interest, which will be added to the account at each year-end. (Future Value of $1. Present Value of $1. Future Value Annulty of $1. Present Value Annulty of $1, Financial Calculator) (Use tables, Excel, or a financial calculator.) Required: 1. How much money will you have for the trip at the end of year 4 (1.e., after four deposits)? 2. What is the total amount of Interest earned over the four years? 3. How much Interest revenue did the fund earn in each of the four years, starting in 2021? Complete this…You are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding You already have the following information: Receipts and payments account as at 30 June 2020 Balance b/d 120,000 Canteen creditors 145,600 Subscription 320,000 Fixtures & fittings 46,000 Entrance fees 37,600 Independence fair expenses 22,300 Rental of hall 18,000 Wages for canteen staff 68,000 Rental of lockers 8500 Laundry expenses 7600 Canteen debtors 345 200 Prizes and trophies 8,800 Independence fair 172,300 Utilities 9500 Honorarium -Admin staff 28000 Repairs 4200 Balance c/d 681,600 1,021,600 1,021,600 Additional information: 1 July 2019 30 June 2020 Club house 500,000 500,000 Fixtures and Fittings 64,000 100,000 Sports equipment 50,000 45000 Canteen debtors 105,000 85,000 Canteen creditors 66,000 59,000 Canteen stock 12,000 24,000 Subscription un arrears 11,500 6,700 Subscription in advance 2,000…
- Annabelle, a busy professional, is seeking a way to invest a fixed amount of her monthly salary into an actively-managed investment fund. She has indicated she has a surplus $500 per month to invest. Which investor service would be suitable for her? A.Automatic investment plan of $500 per month B.Automatic withdrawal plan of $500 per month C.$500 conversion privilege D.Regular withdrawal plan of $500 per monthYou are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding. You already have the following information: Receipts and payments account as at 30 June 2020 2$ 120,000 320,000 37,600 Balance b/d Canteen creditors 145,600 46,000 22,300 Fixtures & fittings Independence fair expenses Wages for canteen staff Laundry expenses Prizes and trophies Subscription Entrance fees Rental of hall 18,000 68,000 Rental of lockers 8500 7600 8,800 9500 Canteen debtors 345 200 Independence fair 172,300 Utilities Honorarium -Admin staff 28000 Repairs Balance c/d 4200 681,600 1,021,600 1,021,600 Additional information: 1 July 2019 30 June 2020 2$ 500,000 100,000 Club house 500,000 64,000 50,000 105,000 66,000 12,000 11,500 2,000 Fixtures and Fittings Sports equipment 45000 Canteen debtors 85,000 59,000 24,000 6,700 3,400 | 2,000 Canteen creditors Canteen stock Subscription on arrears…I just need to verify that these IRRs are correct.
