1. Below are the PV and FV Factors for 10% forty yearsFV (TableC.1)PV (Table C.2)FVA (Table C.3)PVA (Table C4)45.259260.02209442.59269.77905If you decided to invest $2,400 today, how much would you have in 40years? $_______________________________________2. Charming Company issued $104,800, 10-year, 7 percent bonds onJanuary 1, 2014 at 105. The market interest rate on the bonds is 3percent. Interest payments are made on December 31 of each year.What is the debit to Cash for the issuance of this bond$________________________3. Calculate the bond issue price for the issue of a $252,000 8% threeyear bonds. The market rate is 9%PV Factors – PV 8% .79383, PVA 2.57710 or PV -9% .77218, PVA2.53129)___________________________________________4. Charming Company issued $62,300, 10-year, 4 percent bonds onJanuary 1, 2014 at 96. The market interest rate on the bonds is 5percent. Interest payments are made on December 31 of each year.Charming makes his 1st interest payment on December 31, 2014.Charming adjusts the carrying value after recording the 1st year’sinterest payment.What is the 2nd year interest expense on this bond? $____________5. Below are the PV and FV Factors for 10% forty yearsFV (TableC.1)PV (Table C.2)FVA (Table C.3)PVA (Table C4)45.259260.02209442.59269.77905If you invested $10,800 annually for the next 40 years, how wouldwould you have at the end of 40 years?______________________6. Charming Company issued $109,200, 10-year, 5 percent bonds onJanuary 1, 2014 at 104. The market interest rate on the bonds is 3percent. Interest payments are made on December 31 of each year.On December 31, 2014, Charming makes its 1st interest payment.What is the debit to Interest Expense for the 1st payment ofinterest? $___________________7. Charming Company issued $137,500, 10-year, 6 percent bonds onJanuary 1, 2014 at 109. The market interest rate on the bonds is 3percent. Interest payments are made on December 31 of each year.On December 31, 2014, Charming makes its 1st interest payment.What is the Carrying Value of the bond after the 1st payment ofinterest? $_____________________8. Charming Company issued $96,500, 10-year, 4 percent bonds onJanuary 1, 2014 at 96. The market interest rate on the bonds is 5percent. Interest payments are made on December 31 of each year.Charming makes his 1st interest payment on December 31, 2014.What is the Carrying value on this bond after the 1st interestpayment ? $______________________9. Charming Company issued $67,400, 10-year, 4 percent bonds onJanuary 1, 2014 at 95. The market interest rate on the bonds is 5percent. Interest payments are made on December 31 of each year.What is the credit to Bonds Payable for the issuance of this bond$______________________10. Charming Company issued $130,100, 10-year, 6 percent bonds onJanuary 1, 2014 at 104. The market interest rate on the bonds is 5percent. Interest payments are made on December 31 of each year.On December 31, 2014 Charming makes their 1st interest payment.What is the credit to cash for the payment of interest on this bond?$______________________

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