. A new bond issue is being issued at a market price of $922 with a 11.4% interest rate and will be due in 16 years. If the firm has a 32 percent tax rate, calculate the after-tax cost of debt.

Answers

Answer 1

Answer:

8.53%

Explanation:

Par value = $1000

Current bond = $922

Coupon = 1000*11.4% = $114

Years = 16

Pretax cost of debt = YTM(Nper, PMT, -PV, FV)

Pretax cost of debt = YTM(16, 114, -922, 1000)

Pretax cost of debt = 0.1255

Pretax cost of debt = 12.55%

After tax cost of debt = Pretax cost of debt * (1 - Tax rate)

After tax cost of debt = 12.55% * (1 - 32%)

After tax cost of debt = 0.1255 * 0.68

After tax cost of debt = 0.08534

After tax cost of debt = 8.53%


Related Questions

the baking department started the month with 23,500 units in its beginning work in process inventory. An additional 216,000 units started into production during the month to begin processing. There were 193,900 units in completed and transferred to the next processing department during the month. How many units were in ending work in process inventory at the end of the month

Answers

Answer:

45,600 units

Explanation:

Calculation to determine How many units were in ending work in process inventory at the end of the month

Using this formula

Units in ending work in process = Units in beginning work in process + Units started into production – Units transferred to the next department

Let plug in the formula

Units in ending work in process= 23,500 units + 216,000 units – 193,900 units

Units in ending work in process= 45,600 units

Therefore the number of units that were in ending work in process inventory at the end of the month is 45,600 units

Vincent corporation has 100,00 shares of 100 par common stock outstanding. on june30 ,Vincent corporation declared a 5% stock dividend to be issued on July 30 to stockholders of record july15. the market price of the stock was $132 a share on June 30. journalize the entries required on June 30 and july30

Answers

The common stock that is seen here would be $500000

What is the common stock outstanding?

This is the term that would simply be used to refer to all of the shares that the shareholders of a company as well as the people that are the insiders in the company would own.

How to solve for the journal entries

The retained earnings is given as

$132 * 0.05

= $6.6

= 6.6 x 100000

= 660000

The debit is $660000

The credit is 100000 x 5 = 500000

paid in capital in excess of par =  660000 - 500000

= $160000

The stock dividend distributable = $500000

common stock is given as $500000

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Thomlin Company forecasts that total overhead for the current year will be $12,300,000 with 150,000 total machine hours. Year to date, the actual overhead is $8,270,500, and the actual machine hours are 97,300 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is a.$291,900 overapplied b.$291,900 underapplied c.$158,100 overapplied d.$158,100 underapplied

Answers

Answer:

b. $291,900 underapplied

Explanation:

With regards to the above information, we will calculate the predetermined overhead rate first.

Predetermined overhead rate = Estimated total overhead / Total machine hours

= $12,300,000 / 150,000

= $82 per machine hours

Total overhead = Predetermined overhead rate × Actual total machine hours

= $82 × 97,300

= $9,798,600

Then,

Overhead = Total overhead - Actual overhead

= $9,798,600 - $8,270,500

= $291,900 underapplied

Assume the government has a balanced budget and that the economy is experiencing a period of growth higher than predicted. The tax revenue collected by the government is likely to ________, which would lead to a ________.

Answers

The tax revenue that is collected by the government is likely to increase which would then lead to a budget surplus.

A budget reveals the expenditure and the revenue of the government for a particular fiscal year.

Since there is a balanced budget such that the revenue and the expenses for the given year is thesame, then due to the higher growth, there'll be an increase in the tax revenue.

The increase in tax revenue will then lead to a situation whereby the revenue is more than the expenditure, therefore this will lead to a budget surplus.

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How do you actually do this? On there template and save it or make my own template.? So confused.
Scenario
You are a certified public accountant (CPA) who is working with a small bakery to prepare their financial statements for three months of the current
fiscal year. Because the company is a startup and so small, the accounting is done manually in Microsoft Excel. You have been given the accounts
and information you need to prepare their financial statements, but you will need to use the accounting cycle to report accurate information to the
finance department
Prompt
Accrual Basis: In your company accounting workbook, apply the accrual basis of accounting and prepare adjusting entries to ensure accurate
accounting for expenses that lack transactions in the current period. (You may refer to the Company Accounting Workbook Template
Spreadsheet if necessary, but keep in mind that your work for this milestone should be added to the work you completed in your workbook for the
previous milestone.)
Specifically, you must address the following rubric criteria:
• Unadjusted Trial Balance: Prepare the unadjusted trial balance portion of the Trial Balance" tab of the company accounting workbook,
ensuring that the total debits and credits match.
• Adjusting Entries: Prepare the "Adjusting Entries" tab of the company accounting workbook. Ensure that the entries are correctly transferred
to the adjusting entries portion of the Trial Balance" tab.
• Adjusted Trial Balance: Prepare the adjusted trial balance on the "Trial Balance" tab, ensuring that the debit and credit totals match.
Guidelines for Submission
Build on your work from Milestone One to complete the "Trial Balance" and "Adjusting Entries" tabs in your company accounting workbook. This
should be completed and submitted using Microsoft Excel. Please note that there are drop-down menus embedded in the "Accounts" columns as
well as formulas throughout the spreadsheet to help you complete the workbook without accidentally introducing errors.

Answers

Answer:

The answer is in the picture, Thanks

Explanation:

There are different kinds of template. The template workbook adjustment is shown in the image attached.

What is Adjusting entries?

This is known to be any kind of alterations or changes that are made to journal entries of which a person has already recorded.

Note that these changes are done so that one can be sure that the numbers a person have recorded are in line or match up with the correct accounting periods. Therefore, the adjustment is shown in the image attached.

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The bottom-up method of estimating where work package time and costs for past projects are used as a starting point for a new project and adjustments are made based on differences in the new project is known as the ___________.
a. range estimating.
b. phase estimating method.
c. WBS method.
d. template method.
e. parametric procedure.

Answers

B range eliminating the property for the property is right

Gotiable sells straw hats for $24 each. The April inventory purchases are summarized below. Gotiable sold 142 hats at a hat festival on April 28. Units Cost each Dollars Beg. Inv. 84 3 252 April 2 75 4 300 April 14 66 7 462 April 23 52 8 416
Assume that Gotiable uses the average cost method for inventory costing.
1. What is the average cost of one hat? (Round to the nearest penny (2 decimal points)).
2. What will be the dollar value of the inventory on the April 30th balance Sheet? (Round to the nearest dollar)
3. What will Gotiable report as Gross margin for the hats for the month of April? (Round to the nearest dollar)

Answers

Answer and Explanation:

The computation is shown below:

1.

Particulars        Units                 Unit Cost           Dollars

Beg. Inv.             84                      $3                    $252

Apr-02                75                      $4                    $300

Apr-14                  66                     $7                    $462

Apr-23                  52                    $8                    $416

Total                      277                                            $1,430

Average cost of one hat is

= Total cost of purchases ÷ Units purchased

= $1,430 ÷ 277 units

= $5.16  

2.  

Ending Inventory in Units = Units purchased - Units sold

= 277 units - 142 units

= 135 units

Now

Value of Ending Inventory = Units in Ending Inventory × Average cost per unit

= 135 units × $5.16

= $696.60

= $697

3

Gross Margin = Units sold × (Selling Price - Cost of goods sold)

= 142 units × ($24 - $5.16)

= $2,675.28

= $2,675

Pick the correct statement from below. Multiple Choice Project analysis should only include the cash flows that affect the income statement. A project can create a positive operating cash flow without affecting sales. The depreciation tax shield creates a cash outflow for a project. Interest expense should always be included when analyzing cost-cutting projects. A bid price maximizes profits on a project for the bidding firm.

Answers

Answer:

A project can create a positive operating cash flow without affecting sales.

Explanation:

A project cash flow analysis permits to look the cash inflows and cash outflows that are along with the existing or upcoming project. Also it addressed the opportunity cost

So as per the given situation, it involved that project in which it establish the positive operating cash flow without impacting the sales

Therefore as per the given options, the above statement represent an answer

Explain the manufacturing flow management process and the relationship among manufacturers' production capabilities and costs, suppliers, shippers, and demand for goods. Briefly define and explain the differences between lean and agile supply chain strategies.

Answers

Answer:

The difference between lean and agile is the fluidity with the response to the market. A lean supply chain focuses on cutting costs by producing high volumes of products with low variability. An agile supply chain focuses on responding to the market demand with smaller, customizable batches of items.

A lean supply chain prioritizes cost reduction by producing goods in large quantities and with little variation. An agile supply chain focuses on producing things in smaller, more individualized quantities in response to market demand.

What is a supply chain?

The entire process from when a consumer places an order to when the goods or service is delivered and paid for is known as the supply chain. The value and supply chains are coordinated and optimized by the supply chain manager.

He is in charge of ensuring the flawless operation of every process, from the acquisition of raw materials to production, logistics, and client delivery.

As a result, the company, its customers, and its customers' customers are all included in the supply chain. A supply network accounts for the possibility that one of the providers is also a supplier to a customer or even the final consumer.

The monitoring of all resources, data, and finances used in the production process, from the supplier to the manufacturer to the merchant and consumer, is referred to as supply chain management (SCM) or supply chain management.

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When Teresa Carleo, the owner of Plant Fantasies, started her business, staying with the business for the first few years was difficult for her. Though it was inconvenient, she decided to work from home to avoid paying the rent for office space. Teresa's decisions to stay with the business and work from home exemplify _____. a.long-term strategic plans b.options-based planning c.workplace deviance d.production blocking Teresa Carleo made the decision to start her business and work from her apartment to save money by not paying rent. Which of the following kinds of operational plans does Teresa's decision to work from home exemplify

Answers

Answer: Long-term strategic plans; Budgeting

Explanation:

Since Teresa decides to St with the business even though it was difficult for her, this exemplifies long term strategic plan.

Long-term strategic plan is a plan that is necessary to achieve the organizational goals which the business can achieve in five or more years ahead.

Since Carleo made the decision to start her business and work from her apartment to save money by not paying rent, this decision to work from home exemplifies budgeting.

1. The process of establishing the image or identity of a brand or product so that customers perceive it in a certain way is the definition of which of the following terms?

A. Marketing Strategy,
B. Social Media,
C. Marketing Position,
D. Target market

2. Anton's Coffee positions itself to provide the highest quality and most unique coffee drinks in the area. This is an example of which of the following?

A. Marketing Strategy
B. Social Media
C. Target Market
D. Marketing Postion

Answers

Answer:

Answer of your question is Marketing Position

Explanation:

Market positioning refers to the process of establishing the image or identity of a brand or product so that consumers perceive it in a certain way. For example, a car maker may position itself as a luxury status symbol.

Tái chế không phải 1 phương pháp hoàn hảo để giải quyết vấn đề ô nhiễm mt

Answers

Answer:

ý thức về việc xả rác, ngưng xả rác , bỏ rác đúng nơi quy định

Question 18
What would be the best appraisal approach to use in estimating the market value of an athletic stadium?
a) Sales comparison
b) Cost
c) Direct capitalization
d) Yield capitalization

Answers

Answer:

It's option B. cost

I recently learned about it in my marketing course.

Huffman Corporation constructed a building at a cost of $30,000,000. Weighted-average accumulated expenditures (WAAE) were $12,000,000, actual interest was $1,200,000, and avoidable interest was $1,600,000. If the salvage value is $2,400,000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is
a. $690,000
b. $705,000.
c. $720,000.
d. $735,000.

Answers

Answer:

$730,000

Explanation:

Calculation to determine what depreciation expense for the first full year using the straight-line method is

Using this formula

Depreciation expense=Costs of Building+Avoidable interest-Salvage value)/Useful life

Let plug in the formula

Depreciation expense=( $30,000,000 + $ 1,600,000- $2,400,000) / 40 years

Depreciation expense=$29,200,000/40 years

Depreciation expense= $730,000

Therefore depreciation expense for the first full year using the straight-line method is $730,000

Skysong, Inc. has the following inventory data: July 1 Beginning inventory 30 units at $19 $570 7 Purchases 105 units at $20 2100 22 Purchases 15 units at $22 330 $3000 A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand. Using the average cost method, the value of ending inventory is

Answers

Answer: $1000

Explanation:

Using the average cost method, the value of ending inventory will be calculated thus:

Average cost per unit = Total cost / Total number of units

= $3000/150

= $20 per unit

Value of ending inventory = 50 units × $20 = $1000

Therefore, the value of ending inventory is $1000.

a. Sunland Cosmetics acquired 12% of the 287,500 shares of common stock of Elite Fashion at a total cost of $14 per share on March 18, 2019. On June 30, Elite declared and paid a $80,200 dividend. On December 31, Elite reported net income of $228,100 for the year. At December 31, the market price of Elite Fashion was $16 per share.
b. Culver Inc. obtained significant influence over Kasey Corporation by buying 25% of Kasey's 29,100 outstanding shares of common stock at a total cost of $11 per share on January 1, 2020. On June 15, Kasey declared and paid a cash dividend of $38.500. On December 31, Kasey reported a net income of $122.900 for the year.

Required:
Prepare all the necessary journal entries for 2020 for Culver Inc.

Answers

Answer:

Mar 18

Dr Available for sales Securities $4,025,000

Cr Cash $4,025,000

June 30

Dr Cash $9624

Cr Dividend Revenue $9624

Dec-31

Dr Securities Fair value Adjustment $575,000

Cr Unrealised gain or Losss- income$575,000

B. Jan 1

Dr Investment in Culver stock $80,025

Cr Cash $80,025

Jan 15

Dr Cash $9,625

Cr Investment in Culver stock $9,625

Dec, 31

Dr Investment in Culver stock $30,725

Cr Revenue $30,725

Explanation:

Preparation of all the necessary journal entries for 2020 for Culver Inc.

Mar 18

Dr Available for sales Securities $4,025,000

(287,500*$14)

Cr Cash $4,025,000

June 30

Dr Cash $9624

Cr Dividend Revenue $9624

($80,200*12%)

Dec-31

Dr Securities Fair value Adjustment $575,000

Cr Unrealised gain or Losss- income$575,000

[(287,500*($16-$14)]

B. Jan 1

Dr Investment in Culver stock $80,025

(29,100*25%*$11)

Cr Cash $80,025

Jan 15

Dr Cash $9,625

($38,500*25%)

Cr Investment in Culver stock $9,625

Dec, 31

Dr Investment in Culver stock $30,725

($122,900*25%)

Cr Revenue $30,725

JacksonIndustries produces two products. The products' estimated costs are as follows:
Product A Product B
Direct Materials $20,000 $15,000
Direct Labor $30,000 $10,000
The company's overhead costs of $200,000 are allocated based on labor cost. Assume 4,000 units of product A and 5,000 units of Product B are produced. What is the total amount of production costs that would be assigned to Product A? (Do not round intermediate calculations.)
a. $200,000
b. $75,000
c. $50,000
d .$150,000
e. $114,285.71

Answers

Answer:

Total production cost= $200,000

Explanation:

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 200,000 / (30,000 + 10,000)

Predetermined manufacturing overhead rate= $5 per direct labor cost

Now, we can allocate overhead to Product A:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 5*30,000

Allocated MOH= $150,000

Finally, the total production cost for Product A:

Total production cost= 150,000 + 20,000 + 30,000

Total production cost= $200,000

g provides the following income statement for 20X9: Net Sales $240,000 Cost of Goods Sold 110,000 Gross Profit $130,000 Operating Expenses: Selling Expenses 45,000 Administrative Expenses 12,000 Total Operating Expenses 57,000 Operating Income $73,000 Other Income and (Expenses): Loss on Sale of Capital Assets (29,000) Interest Expense (1000) Total Other Income and (Expenses) (30,000) Income Before Income Taxes $43,000 Income Tax Expense 5000 Net Income $38,000 Calculate the times-interest-earned ratio.

Answers

Answer: 44 times

Explanation:

Times interest earned ratio aims to show just how much the company is able to cover its interest obligations using its operating income.

Times interest earned ratio = Net income before interest / Interest expense

Net income before interest = Operating income loss on sale of capital assets

= 73,000 - 29,000

= $44,000

Times interest earned ratio = 44,000 / 1,000

= 44 times

______ occur whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.

a. Pecuniary benefits and costs
b. Externalities
c. Intangibles
d. Monopoly costs and benefits

Answers

The choose b. Externalities

Externalities occur whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.

I hope I helped you^_^

Based on predicted production of 26,000 units, a company anticipates $507,000 of fixed costs and $448,500 of variable costs. The flexible budget amounts of fixed and variable costs for 24,000 units are (Do not round intermediate calculations):

Answers

Answer:

u may do addition I think from that process

Ultimo Co. operates three production departments as profit centers. The following information is available for its most recent year. Which department has the greatest departmental contribution to overhead (in dollars) and what is the amount contributed

Answers

Answer: Department 3 had the greatest contribution to overhead of $362,000

Explanation:

Contribution to overhead = Sales - Cost of Goods sold - Direct expense

Department 1:

= 1,140,000 - 714,000 - 114,000

= $312,000

Department 2:

= 540,000 - 164,000 - 54,000

= $322,000

Department 3:

= 840,000 - 314,000 - 164,000

= $362,000

What is choice ? Choice is problem how

Answers

Answer:

Problem of choice refers to the allocation of various scarce resources which have alternative uses that are utilized for the production of various commodities and services in the economy for the satisfaction of unlimited human wants.

A building is acquired on January 1, at a cost of $830,000 with an estimated useful life of eight years and salvage value of $75,000. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.)

Answers

Answer:

$207,500

$155,625

$116,719

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life) = 2/8 = 1/4

1 = $830,000 / 4 = 207,500

book value $830,000 -  207,500 = 622,500

2 =  622,500 / 4 = 155,625

book value = 622,500 - 155,625 = 466875

3 466875 / 4 = 116,718.75 = 116,719

Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.5 ounces of aluminum per can. During the month of April, 300,000 cans were produced using 1,240,000 ounces of aluminum. The actual cost of aluminum was $0.18 per ounce and the standard price was $0.08 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as positive numbers and select Favorable or Unfavorable. Materials Price Variance$fill in the blank 1 Material Usage Variance$fill in the blank 3

Answers

Solution :

Variance                          Calculations                                         Result

Direct material        0.08(300,000 x 4.5 - 1,240,000)           8,800 favorable

usage variance      

Direct material          1,240,000 x (0.08 - 0.18)                      124,000 unfavorable

price variance

                         

The standard quantity =  actual production x standard quantity per unit

                                     =  300,000 x 4.5

                                     = 1,350,000

The ultimate goal of contract damages is: Multiple Choice Put the nonbreaching party where it was before the contract was formed. Return any costs incurred by the nonbreaching party. Put the nonbreaching party where it was prior to breach. Put the nonbreaching party in the best position possible. Give the nonbreaching party the benefit of its bargain.

Answers

Answer:

Give the nonbreaching party the benefit of its bargain.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

In contract law, damages can be defined as an amount of money that is paid to a claimant (innocent party) as a compensation for a breach of contractual agreement and it's based on the amount of interest he or she has vested in the contract. Thus, it covers the incurred by the nonbreaching party (claimant or innocent party) due to a breach of contract by the other party.

Hence, the ultimate goal of contract damages is to give the nonbreaching party the benefit of its bargain.

You own a portfolio equally invested in a risk-free asset and two stocks. If one of the stocks has a beta of 1.62 and the total portfolio is exactly as risky as the market, what must the beta be for the other stock in your portfolio

Answers

Answer:

1.71

Explanation:

Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors

The market has a beta of one. If a portfolio has the same level of systematic risk that is the same as that of the market, its beta would be equal to 1.  

The beta of a risk free asset is zero

The portfolio's beta can be determined by adding together the weighted beta of each stock in the portfolio

weighed beta of a stock = percentage of the stock in the portfolio x beta of the stock  

1 = (0.3 x 1.62) + (0.3 x 0) + (0.3 x a)

1 = 0.486 + 0 + 0.3a

1 - 0.486 = 0.3a

a = 1.71

Costly Corporation is considering using equity financing. Currently, the firm's stock is selling for $26.00 per share. The firm's dividend for next year is expected to be $4.90 with an annual growth rate of 8.0% thereafter indefinitely. If the firm issues new stock, the flotation costs would equal 11.0% of the stock's market value. The firm's marginal tax rate is 40%. What is the firm's cost of internal equity

Answers

Answer: 26.85%

Explanation:

Based on the information given in the question, the firm's cost of internal equity will be calculated as:

Cost of equity = (D1/Current price) + Growth rate

= (4.90 / 26.00) + 8.0%

=(4.9/26) + 0.08

=26.85%

Therefore, the firm's cost of internal equity is 26.85%.

Show what happens to the firm's output choice and profit if the price of the product falls from $52 to $42. If the market price falls from $52 to $42, then the firm's output will decrease or increase from _____units to _____ units. (Enter your responses using integers.)

Answers

Answer: The firm's output will therefore decrease from 9 units to 8 units.

Explanation:

This firm most likely operates in a competitive market where price is the same as marginal revenue.

In such a market, firms will try to maximize output by selling at a level where Price is equal to Marginal cost and if they cannot get here, they try to make them as close as possible so long as marginal cost does not exceed price.

As this is the case, when the price was $52, the closest Marginal cost that isn't higher than price was $45 for an output level of 9 units.

If the product falls to $42, the closest marginal cost that isn't higher than the cost is $38 for 8 units.

The firm's output will therefore decrease from 9 units to 8 units.

On July 1, 2022, Cullumber Company sells equipment for $146000. The equipment originally cost $480000, had an estimated 5-year life and an expected salvage value of $50000. The Accumulated Depreciation account had a balance of $301000 on January 1, 2022, using the straight-line method. The gain or loss on disposal is

Answers

Answer:

Accumulated depreciation = ($480,000 - $50,000)/5 *6/12 + $301,000

Accumulated depreciation = $43,000 + $301,000

Accumulated depreciation = $344,000

Date  Account titles & Explanations           Debit           Credit

         Cash                                                  $146,000

         Accumulated depreciation              $344,000

                 Gain on disposal                                             $10,000

                 Equipment                                                       $480,000

So, the gain on disposal is $10,000

Compound value solving for n​) How many years will the following​ take? a. ​$ to grow to ​$ if invested at percent compounded annually b. ​$ to grow to ​$ if invested at percent compounded annually c. ​$ to grow to ​$ if invested at percent compounded annually d. ​$ to grow to ​$ if invested at percent compounded annually

Answers

Answer:

Note: The complete question is attached below as picture

A = P(1+r/100)^n Where A is future value, P is present value, r is rate of interest and n is time period  

1. A = P(1+r/100)^n

1042.51 = 480(1.09)^n

(1042.51/480) = 1.09^n

Taking log on both sides

log(1042.51/480) = n*log 1.09

n = log(1042.51/480)/log 1.09

n = 9 years.

2. A = P(1+r/100)^n

53.26 = 31(1.07)^n

(53.26/31) = 1.07^n

Taking log on both sides

log(53.26/31) = n*log 1.07

n = log(53.26/31)/log 1.07

n = 8 years

3. A = P(1+r/100)^n

383.59 = 100(1.13)^n

(383.59/100) = 1.13^n

Taking log on both sides

log(383.59/100) = n*log 1.13

n = log(383.59/100)/log 1.13

n = 11 years.

4. A = P(1+r/100)^n

66.91 = 53(1.06)^n

(66.91/53) = 1.06^n

Taking log on both sides

log(66.91/53) = n*log 1.06

n = log(66.91/53)/log 1.06

n = 0.10121516027 / 0.025306

n = 3.9997

n = 4 years.

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