How many payments will you have made
You're prepared to make monthly payments of $320, beginning at the end of this month, into an account that pays 12 percent interest compounded monthly.How many payments will you have made when your account balance reaches $24,425?
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An investment will pay you $23,000 in 7 years. The appropriate discount rate is 10 percent compounded daily. What is the present value?
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You're prepared to make monthly payments of $320, beginning at the end of this month, into an account that pays 12 percent interest compounded monthly.
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1) Prepare all required 2008, 2009, 2010 and 2011 journal entries. 2) Determine the balance sheet presentation of only the accounts specific to the accounting you have selected to apply (i.e. disregard cash) for 2008, 2009, and 2010.
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