Homework Answers
1.
=1000*6%/1.07+1000*6%/1.08^2+1000*6%/1.09^3+1000/1.09^3
=926.0295844
2.
Using financial calculator
PMT=6%*1000=60
N=3
FV=1000
PV=-926.0295844
CPT I/Y=8.918%
3.
Using financial calculator
PMT=-6%*1000=-60
N=3
FV=-1000
I/Y=8.918%+0.5%
CPT PV=914.12
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