Homework Answers
4. FV= AED 350,000
n= 11 years
r= 12%
Since it is compounded quarterly,
n = 11 x 4 =44
r = 12 / 4 = 3%
Future value = Present value(1 + r)n
350000 = PV (1.03)44
PV = AED 95,330
5. Future value = Present value(1 + r)n
Here, FV= AED 400,000
PV= AED 250,060
r = 7%
400,000 = 250060 (1.07)n
Number of years= 6.94 = 7 years
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SHOW STEP BY STEP HOW TO SOLVE ANSWERS: 5-1 $4,051.10 5-2 $3,785.60 5-3 $10,874.74 5-4 4.00%...
SHOW STEP BY STEP HOW TO SOLVE
ANSWERS:
5-1 $4,051.10
5-2 $3,785.60
5-3 $10,874.74
5-4 4.00%
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1. Shroug w rok wants to invest AED 800.000 in cash to buy a new car 4 years from today. She expects to cam 7 percent per year, compounded annually on her savings. How much should she get to meet this purpose? 2. What is the present value of AED 45.000 deposited for 6 years at 10 percent per annum interest compounded annually? 3. If you wish to accumulate AED 200,000 in 5 years, how much must you deposit today...
Section 1: Short case studies (2marks each, total 10 marks) 1. Salman has only AED 70,000 today but needs AED 150,000 to buy a new dream car. How long will he has to wait to buy the car if she can earn 13 percent compounded annually on her savings? 2. Ali wants to have AED 70,000,000 in cash to buy a furnished apartment 5 years from today in JLT. She expects to earn 11 percent per year, compounded semiannually, on...
obald wishes to accumulate AED 500,000 in 4 years, how much must you deposit woday in an account that pays an interest rate of 13% per annum. Broker mentions that interest will be compounded monthly.
SHOW STEP BY STEP HOW TO SOLVE
ANSWERS:
5-1 $4,051.10
5-2 $3,785.60
5-3 $10,874.74
5-4 4.00%
(5-1) If you deposit $2,600 dollars in an account today that pays 5.70% compound interest (compounded annually), how much will accumulate in the account at the end of eight years? (5-2) In the question above, how much will accumulate if the account pays simple interest rather than compound interest? (5-3) If you wish to accumulate $25,000 in twenty years, how much must you deposit...
You deposit $3,000 at the end of the year (k = 0) into an account that pays interest at a rate of 7% compounded annually. A year after your deposit, the savings account interest rate changes to 1 2% nominal interest compounded month y Five years after ur de o the savings account aga changes it interest rate this time e interest rate becomes 8% nominal interest compounded quarterly. Eight years after your deposit, the saving account changes its rate...
Short question answers 1. Khawla wants to have AED 900,000 in cash to buy a new car 4 years from today. She expects to earn 9 percent per year, compounded annually, on her savings. How much should she deposit today to meet this purpose? 2. What is the future value of AED 85,000 deposited for 7 years at 10 percent interest compounded annually?
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