Suppose you have a saving account with Bank of America. You have deposited $1200 today and plan to deposit $1300 in the first year, nothing in the second year and $1000 in the third year, how much will you have after three years, if the bank pays you an interest rate of 8% compounded annually? $3324.71 $4027.97 O $3190 12 $4589 01

Suppose you have a saving account with Bank of America. You have deposited $1200 today and plan to deposit $1300 in the first year, nothing in the second year and $1000 in the third year, how much will you have after three years, if the bank pays you an interest rate of 8% compounded annually? $3324.71 $4027.97 O $3190 12 $4589 01

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Use the following accounts; Cash Foreign exchange gain Foreign exchange loss Capital Bank Short-term investments Loss on sale of short-term investment Gain on sale of short-term investment RA established his own company, r@ktas Co. The following transactions are the events that occurred during December 2018, the company's first month: Date 12/1 The owner invested $ 200,000 cash for capital. 12/5 r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro (Exchange rate was 1 Euro= 1,5 Dollar) 12/10 The Company purchased short-term investment with cash for $2,500. 12/18 The Company sold short-term investment with cash for $2.000 Note: • Exchange rate was 1 Euro= 1,4 Dollar at the end of the period. Requirements: 1- Give the journal entry for each transaction. 2- Post each transaction to Taccounts.
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