On January 1, 2014, Spearfish Company completed the following transactions (use an 8 percent annual interest rate for all transactions).
a.
Deposited $50,000 in a debt retirement fund. Interest will be computed at six-month intervals and added to the fund at those times (i.e., semiannual compounding). (Hint: Think carefully about n and i.)
b.
Established a pension retirement fund to be available by the end of year 6 by making six annual deposits of $130,000 at year-end, starting on December 31, 2014.
c.
Deposited $250,000 in a debt retirement fund. Interest will be computed annually and added to the fund at those times.
2-a.In transaction (b), what is the amount of the retirement fund at the end of year 6?
2-b. What is the total amount of interest revenue that will be earned?
Please show all work. Dont give direct answers without all the steps involved
Why work with us?
Authenticity:
All of our papers are authentic, as each paper of ours is composed according to your unique requirements.
Confidentiality:
We value you data. Our company is extremely efficient in guarding the privacy of our clients.
100% Money Back Guarantee:
In the event you cancel your order, you get your money back as soon as possible, we give a 100% refund.
24/7 Support:
Our team members are available via email, live chat, and phone.
Revision Policy:
You can apply for a revision if you think your paper could be better. In this case, your paper will be revised either by the specialist assigned to you or by another writer.
How the Platform Works
- Click on 'Place Your Order' tab on the menu or click on 'Order Now' tab at the bottom and a new order page will appear
- Fill in your requirements depending on your needs under the 'PAPER DETAILS' area
- In the next section, fill in the academic level, required number of pages, paper deadline as provided in the drop-down menus.
- To enter your registration details, click on 'CREATE ACCOUNT & SIGN IN'. This step allows you to create an account with us for purposes of record-keeping. Click on 'PROCEED TO CHECK OUT' at the bottom of the page
- The next section requires you to fill in the payment details. Follow the guided process and soon your order will be available for our team to work on.