ACC 100 Lecture 4: 9calclex
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Part One: Quantitative Exercises | |
Questions | Answers |
1. Future Value. What is the future value of | |
a. $800 invested for 14 years at 11 percent compoundedannually? | |
b. $210 invested for 8 years at 9 percent compounded annually? | |
c. $650 invested for 12 years at 8 percent compoundedannually? | |
2. Present Value. What is the present value of | |
a. $803 to be received 18 years from now at a 10 percent discountrate? | |
b. $406 to be received 7 years from now at a 5 percent discountrate? | |
c. $400 to be received 10 years from now at a 9 percent discountrate? | |
3. Future Value of an Annuity. What is the future value of | |
a. $557 a year for 12 years at 5 percent compounded annually? | |
b. $748 a year for 9 years at 12 percent compounded annually? | |
c. $442 a year for 7 years at 11 percent compounded annually? | |
4. Present Value of an Annuity. What is the present valueof | |
a. $1,163 a year for 12 years at an 7 percent discount rate? | |
b. $329 a year for 6years at a 12 percent discount rate? | |
c. $365 a year for 20 years at a 14 percent discount rate? | |
5. How many years will it take to grow | |
a. $765 to a value of 2,028.19 at a compound rate of 14percent? | |
b. $321 to a value of 450.22 at a compound rate of 12 percent? | |
c. $881 to a value of 1,305.78 at a compound rate of 7percent? | |
6. Interest Rate. At what interest rate will it take togrow | |
a. $800to a value of 1,017.13 over 6 years? | |
b. $600 to a value of 1,082.08 over 5 years? | |
c. $401 to a value of 1,311.16 over 6 years? | |
7. Car Loans (Hint: P/Y=12). How much is a car loan with apayment of | |
a.$453 per month for 3 years at 6% interest per year? | |
b.$466 per month for 5 years at 15% interest per year? | |
c.$301 per month for 6 years at 7% interest per year? | |
8. Mortgages (Hint: P/Y=12). | |
What was the initial mortgage on thehouse? | |
a.$4,369.66 per month for 30 years at 8 percent interest? | |
b.$1,626.83 per month for 15 years at 4 percent interest? | |
c. $3,724.21 per month for 30 years at 18 percent interest? | |
9. Mortgages (Hint: P/Y=12). What is the payoff on a 30year, 6% mortgage of | |
a.$255,413 with a payment of 1,321.33 with 8 years remaining? | |
b.$530,493 with a payment of 3,180.57 with 12 years remaining? | |
c. $297,266 with a payment of 1,782.26 with 11 yearsremaining? | |
Develop a three-week moving average for this time series.Compute MSE and a forecast for week 7. Round your answers to twodecimal places.
Week | TimeSeries Value | Forecast |
---|---|---|
1 | 18 | |
2 | 15 | |
3 | 16 | |
4 | 13 | _______ |
5 | 17 | _______ |
6 | 16 | _______ |
MSE:
The forecast for week 7:
Use = 0.2 to compute the exponential smoothing valuesfor the time series. Compute MSE and a forecast for week 7. Roundyour answers to two decimal places.
Week | TimeSeries Value | Forecast |
---|---|---|
1 | 18 | |
2 | 15 | _______ |
3 | 16 | _______ |
4 | 13 | _______ |
5 | 17 | _______ |
6 | 16 | _______ |
MSE:
The forecast for week 7:
Compare the three-week moving average forecast with theexponential smoothing forecast using = 0.2. Whichappears to provide the better forecast based on MSE?
Explain.
The input in the box below will not be graded, but may be reviewedand considered by your instructor.
Use trial and error to find a value of the exponential smoothingcoefficient that results in a smaller MSE than what youcalculated for a= 0.2. Find a value of for the smallestMSE. Round your answer to three decimal places.
a =
Prepare month end adjusting journal entries and record in thegeneral journal.
Month End Adjustments
Adjustment Number | Adjustment Description | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1 | Record the expiration of one month's insurance. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | Depreciation on Equipment for the month is $300.00. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3 | After taking an inventory, it is determined there is $100 ofgas and oil on hand at the end of the month. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4 | Nick cut the lawn for the Insurance Agency twice during themonth (refer to the November 14 business transaction). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5 | The interest owed for the month is $150. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6 | Complete the bank reconciliation and record any necessaryjournal entries.
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