Assume someone wishes to have $80,000 10 years from now as a college education fund for a child.
a. How much money would have to be invested today at 6 percent compound interest? At 8 percent?
b. How much would have to be invested annually at 6 percent compound interest? At 8 percent?
Why is there no valuation adjustment on a cost-basis balance sheet? Assume that a mistake was made and the value of market livestock on a balance sheet is $10,000 higher than it should be.
How does this error affect the measures of liquidity and solvency?
Would results be the same if land had been overvalued by $10,000?
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