Question

CALCULATOR METHOD ONLY

FIND I/Y, answer if you know how to.

6. value: 10.00 points With end-of-month contributions of $251.33, a TFSA is expected to pass $100,000 in value after 15 year

0 0
Add a comment Improve this question Transcribed image text
Answer #1

1.
N=12*15+5
PMT=-251.33
FV=100000
PV=0
CPT I/Y=0.75%
Nominal rate=0.75%*12=9.00%

2.
=(1+0.75%)^12-1
=9.381%

Add a comment
Know the answer?
Add Answer to:
CALCULATOR METHOD ONLY FIND I/Y, answer if you know how to. 6. value: 10.00 points With...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • value: 10.00 points An annuity consists of end-of-month payments of $150 continuing for 6.5 years. a....

    value: 10.00 points An annuity consists of end-of-month payments of $150 continuing for 6.5 years. a. Based on a nominal rate of 10% compounded quarterly, calculate the annuity's present value. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value b. Based on a nominal rate of 10% compounded quarterly, calculate the annuity's future value. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value

  • 10.00 points Find the EAR in each of the following cases. (Do not round Intermediate calculations...

    10.00 points Find the EAR in each of the following cases. (Do not round Intermediate calculations and enter your answers rounded to 2 decimal places, ... 32.16. Use 365 days in a year) Effective Rate EAR) Stated Rate (APR) 12.75% 1325 18.75 14.75 Nur ber of Times Compounded Quarterly Monthly Semiannually References eBook & Resources Worksheet Learning Objective: 06-01 Explain how D uty: 1 Basic Section: B 3 Comparing Rates: The Elect of Compounding Paroda.

  • The answers are at the bottom of the picture. i have know idea how to start...

    The answers are at the bottom of the picture. i have know idea how to start a problem like this one. Please show work on all parts to help me out. Thank you. Exercise (8.12) Consider a 10-year loan of 1,000 with inflation protection. The loan agreement specifies a continuously compounded interest rate of 4%, and that the repayment amount will be adjusted by a factor equal to the value of a particular price index on the repayment date, divided...

  • SHOW ALL WORK. Preferred if you showed how to do it on both financial calculator and...

    SHOW ALL WORK. Preferred if you showed how to do it on both financial calculator and by hand. 1. The nominal rate is 12% per annum. What is the effective annual rate if interest rates are compounded continuously? A. 1% B. 12% C. 12.68% D. 12.75% 2. Which of the following are true? (a) To adjust for inflation, it is always correct to use real interest rates as discount rates (b) A flat yield curve indicates that interest rates are...

  • 10. Value 10.00 points The YTM on a bond is the interest rate you earn on...

    10. Value 10.00 points The YTM on a bond is the interest rate you earn on your investment if interest rates don't change. If you actually sell the bond before it matures, your realized return is known as the holding period yield (HPY) a. Suppose that today you buy a bond with an annual coupon of 8 percent for $1,030. The bond has 17 years to maturity. What rate of return do you expect to earn on your investment? Assume...

  • I need to know how to do the standard deviation and the coefficient of variation using...

    I need to know how to do the standard deviation and the coefficient of variation using the data from question 3. Please show all work using formulas not financial calculators. 2. (5 points) During the early 1980s interest rates were much higher. Suppose an APR of 1 1.25% 10.00% with monthly compounding, which would you prefer (all else equal)? the effective annual rates. Bark o.. EAR, 1.75% Cwo.twK Bank One offered Show this with Two o with annual compounding on...

  • Question 1 [4 points]. As a new engineer with a high-paying job, you understand the importance...

    Question 1 [4 points]. As a new engineer with a high-paying job, you understand the importance of saving money now for your future. In your first year of work, you done your best to save as much of your monthly salary as possible, however, due to lots of new expense, you have saved very erratically. You've also moved your money into new accounts every few months to take advantage of special promotions and other incentives. The following cash flow diagram...

  • only numbers 2,3, and 6 You are trying to decide a present worth of a contract....

    only numbers 2,3, and 6 You are trying to decide a present worth of a contract. You will receive $10,000 when the contract is signed, a $20,000 payment at the end of Year 1, and $30,000 at the end of Year 2. and $40,000 at the end of Year 3, and $50,000 at the end of Year 4 when the project is completed. Your annual costs for this project are $10,000 per year. What is the present worth of the...

  • What is the present value of a $500 perpetuity if the interest rate is 6%? If...

    What is the present value of a $500 perpetuity if the interest rate is 6%? If interest rates doubled to 12%, what would its present value be? Round your answers to the nearest cent. Present value at 6%: $ Present value at 12%: $ You borrow $85,000; the annual loan payments are $11,339.91 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number. You have saved $5,000 for a down payment on...

  • Please explain how to solve p-value using Ti-84 caculator ***only answer if you know how to...

    Please explain how to solve p-value using Ti-84 caculator ***only answer if you know how to solve this on a calculator Ti-84*** Homework: Ch 12 HW: ChiSquare Procedure Score: 0.93 of 1 pt Po 12.1.27-T Save 6 of 15 (15 complete) HW Score: 99.52%, 14.93 of 15 pts Question Help According to a census company, 10.1% of all babies born are of low birth weight. An obstetrician wanted to know whether mothers between the ages of 35 and 39 years...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT