FAF Ch9

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Author:
achawla
ID:
180967
Filename:
FAF Ch9
Updated:
2015-10-10 15:31:21
Tags:
FAF Ch9 formulas
Folders:
FAF
Description:
Ch9 Quiz Prep
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  1. What is the formula to find the present value of a non annuity?
    pv = (fv)(factor)
  2. What is the formula to find the present value of an annuity?
    pv ann = (payment)(factor)
  3. What is the formula to find the future value of an annuity?
    fv annuity = (payment)(factor)
  4. What is the formula to find the future value of a non annuity?
    fv = (pv)(factor)
  5. want to know the value of FUTURE assets TODAY
    use present value
  6. want to know the value of present day assets AT A FUTURE DATE
    use future value
  7. What is the formula to calculate dollar interest amount for a note payable?
    $ interest =  

    ex: interest = $1000 x .08 x 30/360
  8. what are the required 3 characteristics of a liability?
    • 1. a past transaction or event
    • 2. a present obligation
    • 3. a future payment of assets or services
  9. Examples of known liabilities
    accounts payable, notes payable, sales taxes payable, unearned revenues
  10. What are the 3 major categories of liabilities?
    • Known Liabilities
    • Estimated Liabilities
    • Contingent Liabilities

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