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1) Which would result in more savings at the end ...... an ordinary annuity or...

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Accounting

1) Which would result in more savings at the end ...... an ordinary annuity or an annuity due savings plan of the same amount and the same interest rate. Please explain.

2) David Clancy issues $2,000,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 8%. What amount will Clancy receive when it issues the bonds?

3) Was the above bond issued at a discount or premium? and secondly, what would be the journal entry to record the initial issuance of the bond on the books of the issuer?

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