Carol wants to invest money in a 6% CD account that compounds semiannually. Caro

Question

Carol wants to invest money in a 6% CD account that compounds semiannually. Carol would like the account to have a balance of $50,000 5 years from now. How much must Carol deposit to accomplish her goal?

1. (TCO 5) Bert's Meat Market sells quarters and sides of beef on an installment basis. Losses on receivables are very difficult to predict, and meat products cannot be repossessed. The revenue recognition method used by Bert would be (Points : 4)       point of sale.
      installment sales.
      cost recovery.
      Both B and C are correct.

Explanation / Answer

1. Both B and C are correct

2. $100,000

3. $37,205

4. $7,096

5. $23,586

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