Nick Yeager, an accountant, will retire in 11 years. Nick invests 10,00 . every year into a fund that promises to return 9 compounded annually. Compute the total amount that he will have at the end of 11 years. Use Tables 23-1A and 23-1B or a calculator.
Q. 2The residents of Richmond voted to build a new library, at a cost of 180 per residence, with the cost spread over a 10-year period. The Wilson family had an annual tax bill of 2,580 before the improvements. If they pay their property taxes semiannually, what will be the amount of their next tax payment?
Q. 3Brenda Davies inherited a poultry company from her uncle. To make necessary improvements, she began to set aside 6,00 . every three months. Brenda earns 8 compounded quarterly. Compute the total amount that she will have after 45 months. Use Tables 23-1A and 23-1B or a calculator.
Q. 4A home having an annual tax bill of 2,460 was sold at the end of the eighth month of the taxable year. The seller had already paid the entire tax for the year. How much tax was the seller reimbursed on proration of taxes at the time of the sale?
Q. 5An investor purchased a 10 bond at 110 . The bond matures in 7 years. Calculate the current yield. (Round answer to two decimal places.)
Q. 6A veteran living in Tulsa receives a partial exemption of 10 of regular property taxes. The veteran owns property valued at 190,000 . If the property is assessed at 70 of value and the current rate is 1.2, how much tax is due each six months?
Q. 7An investor purchased an 8 bond at 108 . The bond matures in 5 years. Calculate the current yield. (Round answer to two decimal places.)
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