ACC 421 Week 5 Individual Assignment / Assignmentcloud.com

Question 1

ACC 421 Week 5 Individual Assignment

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Submit responses to the individual assignment for week 5 posted in the Course-Materials forum.

Problem 1

Compute the present value of each of the following periodic amounts.
Each amount is paid/received at the end of each period.

A: $15,000 received at the end of each period for 9 periods compounded at 8%.

Present Value = $93,703,30.

B: $40,000 paid at the end of each period for 7 periods compounded at 4%.

C: $15,000 paid at the end of the tenth, eleventh, twelfth, and thirteenth periods
compounded at 11%

Compute the requested item for each of the following:

A: A bank account has a current balance of $408,029. If the money is left in the account and
earns 9% compounded annually, how many years will it take for the balance to grow to

B: A bank account has a current balance of $174,439. If the money is left in the account for 25
years and grows to $1,890,000, what is the annual rate of interest compounded annually?

Answer 1

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