 |
GMA711S-MANAGEMENT ACCOUNTING 310-1ST OPP-JUNE 2022 |
|
|
1 Page 1 |
▲back to top |
nAmlBIA unlVERSITY
OF SCIEnCE Ano TECHnOLOGY
FACULTY OF COMMERCE, HUMAN SCIENCES AND EDUCATION
DEPARTMENT OF ACCOUNTING, ECONOMICS AND FINANCE
QUALIFICATION: BACHELOR OF ACCOUNTING
QUALIFICATION CODE: 07BOAC LEVEL:?
COURSE CODE: GMA711S
COURSE NAME: MANAGEMENT ACCOUNTING 310
SESSION: JUNE 2022
PAPER: THEORY AND CALCULATIONS
DURATION: 3 HOURS
MARKS: 100
EXAMINERS
FIRST OPPORTUNITY EXAMINATION QUESTION PAPER
S. Lishokomosi and L. Odada
MODERATOR: A. Makosa
INSTRUCTIONS
1. Answer ALL the questions in blue or black ink only. NO PENCIL.
2. Start each question on a new page, number the answers correctly and clearly.
3. Write clearly, neatly and show all your workings/assumptions.
4. Work with four (4) decimal places in all your calculations and only round off only final
answers to two (2) decimal places unless otherwise stated.
5. Questions relating to this examination may be raised in the initial 30 minutes after the start
of the examination. Thereafter, candidates must use their initiative to deal with any
perceived error or ambiguities and any assumptions made by the candidate should be
clearly stated.
PERMISSIBLE MATERIALS
1. Silent, non-programmable calculators
THIS QUESTION PAPER CONSISTS OF _5_ PAGES (excluding this front page and tables)
|
|
2 Page 2 |
▲back to top |
QUESTION 1
[25 MARKS]
A company is considering the launch of a new 5G mobile phone. Experience from the sale of
previous models has shown that the expected life of the new model is three years and life
cycle sales will total 25 million units. Sales volumes over the life cycle of the product will follow
the pattern shown below.
• Year 1 - 30%
• Year 2 - 40%
• Year 3- 30%
The company's research and development division, which has an annual budget of N$35
million has developed a prototype of the 5G phone. A further investment of N$600 million in a
new manufacturing facility will be required at the start of year 1 to put the new model into
production. The new model will be marketed at a premium price of N$300 per unit throughout
the life of the model.
The 5G model will be produced exclusively in the new manufacturing facility. The total fixed
manufacturing costs will be N$300 million per year excluding depreciation. It is also anticipated
that a further N$150 million will be spent in each of years 1 and 2 and N$100 million in year
3, on further deve!opment and marketing of the new model. The variable cost per unit will be
N$125 and this is expected to remain the same throughout the life of the model. It is estimated
that the launch of the new model will result in a reduction in sales of the current 4G model of
2 million units in the first year after which there will no longer be a market for the 4G model. It
was never anticipated that there would be a market for the 4G model after this period. The
contribution per unit of the 4G model is N$100.
The company's financial director has provided the following taxation information:
Wear and tear allowances:
• Tax depreciation is accounted for on a straight-line method.
• Taxation rate: 32%, half of the tax is payable in the year in which it arises, the balance
is paid in the following year.
• Any taxable losses resulting from this investment can be set against profits made by
the company's other business activities. The company uses a cost of capital of 8% per
annum to evaluate projects of this type.
REQUIRED
MARKS
Calculate the Net Present Value (NPV) of the project including year 4 (work 22
a)
with whole numbers in ALL your calculations).
b) Highlight any three (3) advantages of NPV
3
1
|
|
3 Page 3 |
▲back to top |
QUESTION 2
[25 MARKS]
Perfect Tyre Suppliers is a newly formed locally owned company seeking to enter the motor
accessory markets where it will supply two types of tyres namely: Michelin and Tornado. The
demand for tyres will fluctuate depending on the state of the economy. It will employ 20
employees at its manufacturing plant performing different functions. The Managing Director
recently attended an international conference on risk management. During the conference it
was stated how the statistical concept of standard deviation can be used to measure risk. He
has therefore contracted you as the management accountant with the aim of exploring how
the use of standard deviation can help him make decisions pertaining to the risk profile of each
tyre type.
The following probability distribution has been provided by the managing director based on
his industry experience:
Economic state
Super boom
Boom
Recession
Probability(%)
30
45
25
The expected return for the Michelin tyre is 15% during super boom, 25% in a boom economy
and -10% in a recession. The tornado tyre has an expected return of 20% in a super boom
economy, 10% in a boom economy and -15% during recession. In order to ensure that the
above probability distribution is as close as accurate or perfect, the Managing Director is
thinking of hiring a market specialist to provide further information on the market of tyres. The
market specialist will charge 2% higher compared to the cost incurred by Perfect Tyres to
obtain the current projection.
REQUIRED
MARKS
Evaluate whether Perfect Tyre Suppliers should hire the market specialist
6
a)
or not. Support your answer with appropriate calculations
Use the mean-variance analysis to recommend which type of tyres Perfect 19
b) Tyre Suppliers should supply. Provide detailed analysis of your
recommendation.
2
|
|
4 Page 4 |
▲back to top |
QUESTION 3
[25 MARKS]
Netflix is the world's leading streaming entertainment service with over 209 million subscribers
in over 190 countries (July 2021 ). Netflix started in 1997 as a DVD mail rental business. In
2007, the company shifted its business model and decided to go digital with the introduction
of streaming media. Customers can now access a wide range of movies, TV series, and
original Netflix content for an affordable, no-commitment monthly fee.
Netflix is considering launching a new, innovative product onto the Namibian market and is
trying to decide on the right launch price for the product. The product's expected life is three
years. Given the high level of costs which have been incurred in developing the product, Netflix
wants to ensure that it sets its price at the right level and has therefore consulted a market
research company to help it do this. The research, which relates to similar but not identical
products launched by other companies, has revealed that at a price of N$60, annual demand
would be expected to be 250 000 units. However, for every N$2 increase in selling price,
demand would be expected to fall by 2 000 units and for every N$2 decrease in selling price,
demand would be expected to increase by 2 000 units.
A forecast of the annual production costs which would be incurred by Netflix in relation to the
new product are as follows:
Annual production (units)
Direct material
Direct labour
Overheads
200 000
N$
2 400 000
1 200 000
1 400 000
250 000
N$
3 000 000
1 500 000
1 550 000
300 000
N$
3 600 000
1 800 000
1 700 000
350 000
N$
4 200 000
2 100 000
1 850 000
REQUIRED
MARKS
Determine the equation for the demand function (that is, the price as a
4
a)
function of quantity demanded. If P = a - bx, then MR = a - 2bx)
b) Determine the Marginal Cost (MC)
5
c) Calculate the optimum price
5
d) Compute the maximum profit
8
e) Explain what is meant by price elasticity of demand
3
3
|
|
5 Page 5 |
▲back to top |
QUESTION 4
[25 MARKS]
The Portable Garage Co (PGC) is a company specialising in the manufacture and sale of a
range of products for motorists. It is split into two divisions: the battery division (Division B)
and the adaptor division (Division A). Division B sells one product - portable battery chargers
for motorists which can be attached to a car's own battery and used to start up the engine
when the car's own battery fails. Division A sells adaptors which are used by customers to
charge mobile devices and laptops by attaching them to the car's internal power source.
Recently, Division B has upgraded its portable battery so it can also be used to rapidly charge
mobile devices and laptops. The mobile device or laptop must be attached to the battery using
a special adaptor which is supplied to the customer with the battery. Division B currently buys
the adaptors from Division A, which also sells them externally to other companies.
The following data is available for both divisions:
Division B
Selling price for each portable battery, includinq adaptor
Costs per batterv:
Adaptor from Division A
Other materials from external suooliers
Labour costs
Annual fixed overheads
Annual production and sales of portable batteries (units)
Maximum annual market demand for portable batteries (units)
N$180
N$13
N$45
N$35
N$5 460 000
150 000
180 000
Division A
Sellinq price per adaptor to Division B
Selling price per adaptor to external customers
Costs per adaptor:
Materials
Labour costs
Annual fixed overheads
Current annual production capacity and sales of adaptors - both internal and
external sales (units)
Maximum annual external demand for adaptors (units)
N$13
N$15
N$3
N$4
N$2 200 000
350 000
200 000
In addition to the materials and labour costs above, Division A incurs a variable cost of N$1
per adaptor for all adaptors it sells externally. Currently, Head Office's purchasing policy only
allows Division B to purchase the adaptors from Division A, but Division A has refused to sell
Division B any more than the current level of adaptors it supplies to it. The manager of Division
B is unhappy. He has a special industry contact whom he could buy the adaptors from at
exactly the same price charged by Division A if he were given the autonomy to purchase from
outside the group. After discussions with both of the divisional managers and to ensure that
4
|
|
6 Page 6 |
▲back to top |
the managers are not demotivated, Head Office has now agreed to change the purchasing
policy to allow Division B to buy externally, provided that it optimises the profits of the group
as a whole.
REQUIRED
MARKS
a) Identify and describethe THREE(3) types oftransfer pricing
6
Under the current transfer pricing system, prepare a profit statement
19
showing the profit for each of the divisions and for the Portable Garage Co
b)
(PGC) as a whole. Your sales and costs figures should be split into external
sales and inter-divisional transfers, where appropriate.
END OF EXAMINATION PAPER
5
|
|
7 Page 7 |
▲back to top |
TABLE A
Future value interest factor of $1 per period at i% for n periods, FVIF{i,n).
Period
1% 2%
1 1.010 1.020
2 1.020 1.040
3 1.030 1.061
4 1.041 1.082
5 1.051 1.104
6 1.062 1.126
7 1.072 1.149
8 1.063 1.172
9 1.094 1.195
10 1.105 1.219
11 1.116 1.243
12 1.127 1.266
13 1.138 1.294
14 1.149 1.319
15 1.161 1.346
16 1.173 1.373
17 1.184 1.400
18 1.196 1.428
19 1.208 1.457
20 1.220 1.486
25 1.282 1.641
30 1.348 1.811
35 1.417 2.000
40 1.469 2.208
50 1.645 2.692
3% 4%
1.030 1.040
1.061 1.082
1.093 1.125
1.126 1.170
1.159 1.217
1.194 1.265
1.230 1.316
1.267 1.369
1.305 1.423
1.344 1.480
1.384 1.539
1.426 1.601
1.469 1.665
1.513 1.732
1.558 1.801
1.605 1.873
1.653 1.948
1.702 2.026
1.754 2.107
1.806 2.191
2.094 2.666
2.427 3.243
2.614 3.946
3.262 4.801
4.384 7.107
5%
1.050
1.103
1.156
1.216
1.276
1.340
1.407
1.477
1.551
1.629
1.710
1.796
1.886
1.980
2.079
2.183
2.292
2.407
2.527
2.653
3.386
4.322
5.516
7.040
11.467
6%
1.060
1.124
1. 19'1
1.262
1.338
1.419
1.504
1.594
1.689
1.791
1.698
2.012
2.133
2.261
2.397
2.540
2.693
2.854
3.026
3.207
4.292
5.743
7.686
10.266
18.420
7%
1.070
1.145
1.225
1.311
1.403
1.501
1.506
1.718
1.838-
1.967
2,105
2.252
2.410
2.579
2.759
2.952
3.159
3.380
3.617
3.870
5.427
7.612
10.677
14.974
29.457
8%
1.080
1,166
1.260
1.360
1.469
1.587
1.714
1.851
1.999
2.159
2.332
2.518
2.720
2.937
3.172
3.426
3.700
3.996
4.316
4.661
6.848
10.063
14.785
21.725
46.902
9%
1.090
1.188
1.295
1.412
1.539
1.677
1.828
1.993
2.172
2.367
2.580
2.613
3.066
3.342
3.642
3.970
4.328
4.717
5.142
5.604
8.623
13.268
20.414
31.409
74.356
10%
1.100
1.210
1.331
1.464
1.611
1.772
1.949
2.144
2.356
2.594
2.653
3.138
3.452
3.797
4.177
4.595
5,054
5.560
6.116
6.727
10.835
17.449
26.102
45.259
117.391
11%
1.110
1.232
1.366
1.516
1.665
1.670
2.076
2.305
2.558
2.839
3.152
3.498
3.883
4,310
4.785
5.311
5.895
6.544
7.263
8.062
13.585
22.892
38.575
65.001
184.565
12%
1.120
1.254
1,405
1.574
1.762
1.974
2.211
2.476
2.773
3.106
3.479
3.896
4.363
4.887
5.474
6.130
6.866
7.690
8.613
9.646
17.000
29.960
52.800
93.051
289.002
13%
1.130
1.277
1.443
1.630
1.842
2.082
2.353
2.656
3.004
3.395
3.836
4.335
4,898
5.535
6.254
7.067
7.986
9.024
10.197
11.523
21.231
39.116
72.069
132.762
450.736
~4%
1,140
1.300
1.482
1.689
1.925
2.195
2.502
2.653
3.252
3.707
4.226
4.818
5.492
6.261
7.138
8.137
9.276
10.575
12.056
13.743
26.462
50.950
98.100
188.884
700.233
15%
1.150
1.323
1.521
1.749
2.011
2.313
2.660
3.059
3.518
4.046
4.652
5.350
6.153
7.076
8,137
9.358
10.761
12.375
14.232
16.367
32.919
66.212
133.176
267.864
1.083.657
16%
1.160
1.346
1.561
1.611
2.100
2.436
2.826
3.278
3.803
4.411
5.117
5.936
6.886
7.988
9.266
10.748
12.468
14.463
16.777
19.461
40.874
65.650
160.314
378.721
1,670.704
17%
1.170
1.369
1.602
1.674
2.192
2.565
3.001
3.511
4.106
4,607
5.624
6.580
7.699
9.007
10.539
12.330
14.426
16.879
19.748
23.106
50.658
111.065
243.503
533.669
2.566.215
16%
1.180
1.392
1.643
1.939
2.288
2.700
3.185
3.759
4.435
5.234
6.176
7.288
8.599
10.147
11.974
14.129
16.672
19.673
23.214
27.393
62.669
143.371
327.997
750.378
3.927.357
19%
1.190
1.416
1.685
2.005
2.366
2.840
3.379
4.021
4.765
5.695
6.777
8.064
9.596
11.420
13.590
16.172
19.244
22.901
27.252
32.429
77.388
184.675
440.701
1,051.668
5.988.914
20%
1.200
1.440
1.728
2.074
2.488
2.986
3.583
4.300
5.160
6.192
7.430
8.916
10.699
12.839
15.407
18.488
22.186
26.623
31.948
38.338
95.396
237.376
590.668
1.469.772
9,100.438
TABLE B
Present value interest factor of $1 per period at io/ofor n periods, PVIF(i,n).
Period
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
25
30
35
40
50
1%
0.990
0.980
0.971
0.961
0.951
0.942
0.933
0.923
0.914
0.905
0.896
0.887
0.879
0.870
0.861
0.853
0.844
0.836
0.828
0.820
0.780
0.742
0.706
0.672
0.608
2%
0.980
0.961
0.942
0.924
0.906
0.888
0.871
0.853.
0.837
0.820
0.804
0.788
0.773
0.758
0.743
0.728
0.714
0.700
0.686
0.673
0.610
0.552
0.500
0.453
0.372
3%
0.971
0.943
0.915
0.888
0.863
0.837
0.813
0.789
0.766
0.744
0.722
0.701
0.681
0.661
0.642
0.623
0.605
0.587
0.570
0.554
0.478
0.412
0.355
0.307
0.228
4%
5%
6%
0.962 0.952 0.943
0.925 0.907 0.890
0.889 0.864 0.840
0.855 0.823 0.792
0.822 0.784 0.747
0.790 0.746 0.705
0.760 0.711 0.665
0.731 0.677 0.627
0.703 0.645 0.592
0.676 0.614 0.558
0.650 0.585 . 0.527
0.625 0.557 0.497
0.601 0.530 0.469
0.577 0.505 0.442
0.555 0.481 0.417
0.534 0.458 0.394
0.513 0.436 0.371
0.494 · 0.416 0.350
0.475 0.396 0.331
0.456 0.377 0.312
0.375 0.295 0.233
0.308 0.231 0.174
0.253 0.181 0.130
0.208 0.142 0.097
0.141 0.087 0.054
7%
0.935
0.873
· 0.816
0.763
0.713
0.666
0.623
0.582
0.544
0.508
0.475
0.444
0.415
0.388
0.362
0.339
0.317
0.296
0.277
0.258
0.184
0.131
0.094
0.067
0.034
8%
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
0.429
0.397
0.368
0.340
0.315
0.292
0.270
0.250
0.232
0.215
0.146
0.099
0.068
0.046
0.021
9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19%1 20%
0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0:847 0.840 0.833
0.842 0.826 0.812 0.797 0.783 0.769 0.756 0.743 0.731 0.718 0.706 0.694
0.772· 0.751 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.579
0.708 0.683 0.659 0.636 0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.482
0.650 0.621 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402
0.596 0.564 0.535 0.507 0.480 0.456 0.432 0.410 0.390 0.370 0.352 0.335
0.547 0.513 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0.296 0.279
0.502 0.467 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.233
0.460 0.424 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.194
0.422 0.386 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0.176 0.162
0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0.135
0.356 0.319 0.286 0.257 0.231 0.208 0.187 0.168 0.152 0.137 0.124 0.112
0.326 0.290 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.093
0.299 0.263 0.232 0.205 0.181 0.160 0.141 0.125 0.111 0.099 0.088 0.078
0.275 0.239 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0.084 0.074 0.065
0.252 0.218 0.188 0.163 0.141 0.123 0.107 0.093 0.081 0.071 0.062 0.054
0.231 0.198 0.170 0.146 0.125 0.108 0.093 0.080 0.069 0.060 0.052 0.045
0.212 0.180 0.153 0.130 0.111 0.095 0.081 0.069 0.059 0.051 0.044 0.038
0.194 0.164 0.138 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.031
0.178 0.149 0.124 0.104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.026'
0.116 0.092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0.016 0.013 0.010
0.075 0.057 0.044 0.033 0.026 0.020 O.Q15 0.012 0.009 0.007 0.005 0.004
0.049 0.036 0.026 0.019 0.014 0.010 0.008 0.006 0.004 0.003 0.002 0.002
0.032 0.022 0.015 0.011 0.008 0.005 0.004 0.003 0.002 0.001 0.001 0.001
0.013 0.009 0.005 0.003 0.002 0.001 0.001 0.001 0.000 0.000 0.000 0.000
|
|
8 Page 8 |
▲back to top |
|
|
9 Page 9 |
▲back to top |
TABLE C
Future value 1nteres!rac!or OTan oramarv annu:tv OT::,Joer oenoa at 1%for n oenoos. F'i71rA(1.n1.
Period ! 1%
2%
3%
4%
5%! 6%
7%
8%
9% 10%! 11% 12% 13~'<, 14% 15% 16% 17% 18% 19% 20%
1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 I 1.000 1.000 i.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000
2 2.010 2.020 2.030 2.040 2.050 2.060 2.070 2.080 2.090
3 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278
I 2.100 1 2.110
3.310 3.342
2.120
3.374
2.130
3.407
2.140
3.440
2.150
3.473
2.160
3.506
2.170
3.539
2.180
3.572
2.190
3.606
2.200
3.640
4 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4,506 4.573 4.641 4.710 4.779 4.850 4.921 4.993 5.066 5.141 5.215 5.291 5.368
5 5.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.228 6.353 6.480 6.610 6.742 6.877 7.014 7.154 7.297 7.442
6 6.152 6.308 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.716 7.913 8.115 8.323 8.536 8.754 8.977 9.207 9.442 9.683 9.930
7 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 9,783 10.089 10.405 10.730 11.067 11.414 11.772 12.142 12.523 12.916
8 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.637 11.028 11.436 11.859 12.300 12.757 13.233 13.727 14.240 14.773 15.327 15.902 16.499
9 9.369 9.755 10.159 10.583 11.027 11.491 11.978 12.488 13.021 13.579 14.164 14.776 15.416 16.085 16.786 17.519 18.285 19.086 19.923 20.799
10 10.462 10.950 11.464 12.006 12.578 13.181 13.816 14.487 15.193 15.937 16.722 17.549 18.420 19.337 20.304 21.321 22.393 23.521 24.709 25.959
11 11.567 12.169 12.808 13.486 14.207 14.972 15,784 16.645 17.560 18.531 19,561 20.655 21.814 23.045 24.349 25.733 27.200 28.755 30.404 32.150
12 12.683 13.412 14.192 15.026 15,917 16.870 17.888 18.977 20.141 21.384 22.713 24.133 25.650 27.271 29.002 30.850 32.824 34.931 37.180 39,581
13 13.809 14.680 15.618 16.627 17.713 18.882 20.141 21.495 22.953 24.523 26.212 28.029 29.985 32.089 34.352 36.786 39.404 42.219 45.244 48.497
14 14.947 15.974 17.086 18.292 19.599 21.015 22.550 24.215 26.019 27.975 30.095 32.393 34.883 37.581 40.505 43.672 47.103 50.818 54.841 59.196
15 16.097 17.293 18.599 20.024 21.579 23.276 25.129 27.152 29.361 31.772 34.405 37.280 40.417 43,842 47.580 51.660 56.110 60.965 66.261 72.035
16 17.258 18.639 20.157 21.825 23.657 25.673 27.888 30.324 33.003 35.950 39.190 42.753 46.672 50,980 55.717 60.925 66.649 72.939 79.850 87.442
17 18.430 20.012 21.762 23.698 25.840 28.213 30.840 33.750 36.974 40.545 44.501 48.884 53.739 59.118 65.075 71.673 78.979 87.068 96.022 105.93
18 19.615 21,412 23.414 25.645 28.132 30.906 33.999 37.450 41.301 45.599 50.396 55.750 61.725 68.394 75.836 84,141 93.406 103.74 115.27 .128.12
19 20.811 22.841 25.117 27.671 30.539 33.760 37.379 41.446 46.018 51.159 56.939 63.440 70.749 78.969 88.212 98.603 110,28 123.41 138.17 154.74
20 22.019 24.297 26,870 29.778 33.066 36.786 40.995 45.762 51.160 57.275 64.203 72.052 80.947 91.025 102.44 115.38 130.03 146.63 165.42 186.69
25 28.243 32.030 36.459 41.646 47.727 54.865 63.249 73.106 84.701 98.347 114.41 133.33 155.62 181.87 212.79 249.21 292.10 342.60 402.04 471.98
30 34.785 40.568 47.575 56.085 66.439 79.058 94.461 113.28 136.31 164.49 199.02 241,33 293.20 356.79 434.75 530.31 647.44 790.95 966,71 1,181.9
35 41.660 49.994 60.462 73.652 90.320 111.43 138.24 172.32 215.71 271.02 341,59 431.66 546.68 693.57 881.17 1,120.7 1,426.5 1,816.7 2,314.2 2,948.3
40 48.886 60.402 75.401 95,026 120.80 154.76 199.64 259.06 337.88 442.59 581.83 767.09 1,013.7 1,342.0 1,779.1 2,360.8 3,134.5 4,163.2 5,529.8 7,343.9
50 64.463 84.579 112.80 152.67 209.35 290.34 406.53 573.77 815.08 1,163.9 1,668.8 2,400.0 3.459.5 4,994.5 7,217.7 10,436 15,090 21.813 31,515 45,497
TABLED
Present value interest factor of an (ordinary) annuity of $1 per period at i% for n periods, PV!FA(i,n).
Period
1%
2%
1 0.990 0.980
2 1.970 1.942
3 2.941 2.884
4 3.902 3.808
5 4.853 4.713
6 5,795 5.601
7 6.728 6.472
8 7.652 7.325
9 8.566 8.162
10 9.471 8.-983
11 10.368 9.787
12 11.255 10.575
13 12.134 11.348
14 13.004 12.106
15 13.865 12.849
16 14.718 13.578
17 15.562 14.292
18 16.398 14.992
19 17.226 15.678
20 18.046 16.351
25 22.023 19.523
30 25.808 22.396
35 29.409 24.999
40 32.835 27.355
50 39.196 31.424
3%
0.971
1.913
2.829
3.717
4.580
5.417
6.230
7.020
7.786
8.530
9.253
9.954
10.635
11.296
11.938
12.561
13.166
13.754
14.324
14.877
17.4_13
19.600
21.487
23.115
25.730
4%
0.962
1.886
2.775
3.630
4.452
5.242
6,002
6.733
7.435
8.111
8.760
9.385
9.986
10.563
11.118
11.652
12.166
12.659
13.134
13.590
15.622
17.2S2
18.665
19.793
21.482
5%
0.952
1.859
2.723
3.546
4.329
5.076
5.786
6.463
7.108
7.722
8.306
8.863
9.394
9.899
10.380
10.838
11.274
11.690
12.085
12.462
14.094
15.372
16.374
17.159
18.256
6%
0.943
1.833
2.673
3.465
4.212
4.917
5.582
6.210
6.802
7.360
7.897
8.384
8.853
9.295
9.712
10.106
10.477
10.828
11.158
11.470
12.783
13.765
14.498
15.046
15.762
7%
0.935
1.808
2.524
3.387
4.100
4.767
5.389
5.971
6.515
7.024
7.499
7.943
8.358
8.745
9.108
9.447
9.763
10.059
10.336
10.594
11.654
12.409
12.948
13.332
13.801
8%
0.926
1.783
2.577
3.312
3,993
4.623
5.206
5.747
6.247
6.710
7.139
7.536
7.904
8.244
8.559
8.851
9.122
9.372
9.604
9.818
10.675
11.258
11.655
11.925
12.233
9%
0.917
1,759
2.531
3.240
3.890
4.486
5.033
5.535
5.995
6.418
6.805
7.161
7.487
7.786
8.061
8.313
8.544
8.756
8.950
9.129
9.823
10.274
10.567
10.757
10.962
10% 11% 12%
0.909 0.901 0.893
1.736 1.713 1.690
2.487 2.444 2.402
3.170 3.102 3.037
3.791 3.696 3.605
4.355 4.231 4.111
4.868 4.712 4,564
5.335 5.146 4.968
5.759 5.537 5.328
6.145 5.889 5.650
6.495 6.207 5.938
6.814 6.492 6.194
7.103 6.750 6.424
7.367 6.982 6.628
7.606 7.191 6.811
7.824 7.379 6.974
8.022 7.549 7.120
8.201 7.702 7.250
8.365 7.839 7,366
8,514 7.963 7.469
9.077 8.422 7.843,
9.427 8.694 8.055
9.644 6.855 8.176
9.779 8.951 8.244
9.915 9.042 a.304
13% 14%
0.885 0.877
1.668 1.647
2.361 2.322
2.974 2.914
3.517 3.433
3.996 3.889
4.423 4,288
4.799 4.639
5.132 4.946
5.426 5,216
5,687 5.453
5.916 5.660
6.122 5.842
6.302 6.002
6.462 6.142
6.604 6.265
6.729 6.373
6.840 6.467
6.938 6,550
7.025 6.623
7.330 6.873
7.496 7.003
7.586 7.070
7.534 7.105
7.675 7.133
15%
0.870
1.626
2.283
2.855
3.352
3.784
4.160
4.487
4.TT2
5.019
5,234
5.421
5.583
5.724
5.847
5.954
S.047
6.128
6.198
6.259
6.464
6.566
6.617
5.642
6.S61
16%
0.862
1.605
2.246
2,798
3.274
3.685
4.039
4.344
4.607
4.833
5.029
5.197
5.342
5.468
5.575
5.668
5.749
5.818
5.877
5.929
6.097
6.177
6.215
5.233
6.246
17%
0.855
1.585
2.210
2.743
3.199
3.589
3.922
4.207
4.451
4.659
4.836
4.988
5,118
5.229
5.324
5.405
5.475
5.534
5.584
5.626
5.766
5.829
5.858
5.871
5.880
18%
0.847
1.566
2.174
2.690
3.127
3.498
3.812
4.078
4.303
4.494
4.656
4.793
4.910
5.008
5.092
5.162
5.222
5.273
5.316
5.353
5.467
5.517
5.539
5.548
5.554
19%1 20%
0.840 0.833
1.547 1.528
2.140 2.106
2.639 2.589
3.058 2.991
3.410 3.326
3.706 3.605
3.954 3.837
4.163 4.031
4.339 4.192
4.486 4.327
4.611 4.439
4.715 4.533
4.802 4.611
4.876 4.675
4.938 4.730
4.990 4.775
5.033 4.812
5.070 4.843
5.101 4.870
5.195 4.948
5.235 4.979
5.251 4.992
5.258 4.997
5.262 4.999
21%
0.826
1.509
2.074·
2.540
2.926
3.245
3.508
3.726
3.905
4.054
4.1n
4.278
4.362
4.432
4.489
4.536
4.576
4.608
4.635
4.657
4.721
4.746
4.756
4.760
4.762
22%
0.820
1.492
2042
2.494
2.864
3.167
3.416
3.619
3.786
3.923
4.035
4.127
4.203
4.265
4.315
4.357
4.391
4.419
4.442
4.460
'4.514
4.534
4.541
4.544
4.545
23%
0.813
1.474
2.011
2.448
2.803
3.092
3.327
3.518
3.673
3.799
3.902
3.985
4.053
4.108
4.153
4.189
4.219
4.243
4.263
4.279
4.323
4.339
4.345
4.347
4.348
|
|
10 Page 10 |
▲back to top |
SilOAffllBIA
UonFtVsEcRieSnITcYeAno
PIBll'B3118
WiAdllOlk
r!AMUIIA
TEC~nf)Ln'1Y
Rl:CEl'JEO
HODA: CCOUNTING,
ECONOMIACNSOflf>JA\\\\lCE