10. Multiple Choice$1,345,776.$503,130.$1,344,517.$501,871. Present and future value tables of $1 at 9% are presented below.PV of $1FV of $1PVA of $1FVAD of $1FVA of $110.917431.090000.917431.09001.000020.841681.188101.759112.27812.090030.772181.295032.531293.57313.278140.708431.411583.239724.98474.573150.649931.538623.889656.52335.98470.596271.677104.485928.20047.5233Ajax Company purchased a six-year certificate of deposit for its building fund in the amount of $300,000. How much should the certificate ofdeposit be worth at the end of six years if interest is compounded at an annual rate of 9%?

Future value = Present value x (FV of $1 @9%, 6 years)

Present and future value tables of $1 at 9% are presented below. PV of $1 FV of $1 PVA of $1 FVAD of $1 FVA of $1 1 0.91743 1.09000 0.91743 1.0900 1.0000 2 0.84168 1.18810 1.75911 2.2781 2.0900 3 0.77218 1.29503 2.53129 3.5731 3.2781 4 0.70843 1.41158 3.23972 4.9847 4.5731 0.64993 1.53862 3.88965 6.5233 5.9847 6 0.59627 1.67710 4.48592 8.2004 7.5233 Ajax Company purchased a six-year certificate of deposit for its building fund in the amount of $300,000. How much should the certificate of deposit be worth at the end of six years if interest is compounded at an annual rate of 9%?

Present and future value tables of $1 at 9% are presented below. PV of $1 FV of $1 PVA of $1 FVAD of $1 FVA of $1 1 0.91743 1.09000 0.91743 1.0900 1.0000 2 0.84168 1.18810 1.75911 2.2781 2.0900 3 0.77218 1.29503 2.53129 3.5731 3.2781 4 0.70843 1.41158 3.23972 4.9847 4.5731 0.64993 1.53862 3.88965 6.5233 5.9847 6 0.59627 1.67710 4.48592 8.2004 7.5233 Ajax Company purchased a six-year certificate of deposit for its building fund in the amount of $300,000. How much should the certificate of deposit be worth at the end of six years if interest is compounded at an annual rate of 9%?

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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