Question

vanhoe Company is about to issue $344,000 of 6-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%.

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(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

How much can Ivanhoe expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.)

Ivanhoe can expect to receive

$enter a dollar amount to be recieved for the sale of bonds rounded to 0 decimal places

Thomas and Dorothy Garfield invested $6,900 in a savings account paying 8% annual interest when their daughter, Angela, was born. They also deposited $1,500 on each of her birthdays until she was 18 (including her 18th birthday).

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(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

How much was in the savings account on her 18th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.)

Amount on 18th birthday		$enter a dollar amount rounded to 2 decimal places

Answer 1