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A man wishes to create an endowment fund to provide an annual prize of $500. If the fund is invested at 10% p.a. C.I., find the amount of this fund.
A man wishes to create an endowment fund to provide an annual prize of $500. If the fund is invested at 10% p.a. C.I., find the amount of this fund.
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Previous article: (a) Find the compound interest on $1000 for 4 years at 5% per annum. (b) What will be the simple interest in the above case?
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Next article: A machine costs the company $97,000 and its effective life is estimated to be 12 years. If the scrap realizes $2,000 only, what amount should be retained out of profits at the end of each year to accumulate at compound interest at 5% per annum?
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More In
Cost Volume Profit
Accounting for Merchandising Operations
Plant Assets, Natural Resources, and Intangible Assets
Chi-Square and Analysis of Variance
Inventories
Investments
Fraud, Internal Control, and Cash
Grouping and displaying data to convey meaning: Tables and Graphs
The Recording Process
Equations
Statement of Cash Flows
Permutations and Combinations
Budgetary Control and Responsibility Accounting
Logarithms
Corporations: Organization and Capital Stock Transactions
Long-Term Liabilities
Introduction
Accounting for Partnerships
Coordinate Geometry
Budgetary Planning
Accounting Information Systems
Corporations: Dividends, Retained Earnings, and Income Reporting
Probability Distributions
The Straight Line. Polar Equations and Oblique Cordinates
Adjusting the Accounts
Testing Hypotheses: One Sample Tests
Managerial Accounting
Process Costing
Financial Statement Analysis
Current Liabilities and Payroll Accounting
Modern Management: Skills for success
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