Homework Answers
Use Excel
Problem 3-
Number of months=NPER(B1/12,0,-B2,B3)
B1/12=this is interest rate monthly(divided by 12)
0=This is PMT
-B2=INTIAL INVESTMENT
B3=Future value
NPER Yearly 385.457/12 =32.12 years
Problem 4-
Add Answer to:
Problem 3: How many years will it take for an intial investment of $2000, earning 5.4%...
Cri computer Problem 5: You are buying a car. The one you have choosen to purchase...
Cri computer Problem 5: You are buying a car. The one you have choosen to purchase is going to cost you $32,985. Your car salesman has told you that you can purchase this vehicle for $525 per month for 72 months. What interest rate will you be paying? Note: For a loan the price is listed Because the bank gives you the money in FV is 0, because the loan will be paid off NPER 1/Y (Rate) PV PMT FV...
You wish to buy a car for $12,000 at a 5% annual interest rate, compounded monthly....
You wish to buy a car for $12,000 at a 5% annual interest rate,
compounded monthly. The loan will be repaid in 5 years with monthly
payments. What is your monthly payment (calculated with the
equations on the next page)? Compare your answer to that obtained
with the built in function, PMT. Be sure to label all cells
appropriately. (There is no need to create a monthly payment table,
simply use the equations on the next page.)
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1) You wish to borrow $150,000 from a lending institution for the purchase of a house. The bank will lend this amount at an Annual Percentage Rate of 4.5% to be paid-off with equal monthly mortgage payments over a 30-year period. This is a 4.5% APR, 30-year fixed-rate mortgage loan. You wish to know how this loan will affect your federal income tax burden, as only the interest paid on a home mortgage, not the principal, is tax deductible. Construct...
how doni do this in excel and what is the interest rate? Suppose that you wish to purchase a car and that your bank...
how doni do this in excel and what is the interest rate?
Suppose that you wish to purchase a car and that your bank is offering to you a loan. You wish to explore the nature of this loan and the payments that you would have to make given certain circumstances such as the amount that you borrow. Fortunately, Excel offers a function (PMT) that calculates the payment for a loan based on constant payments and a constant interest rate....
1. If we place $7,654 in a savings account paying 7.5 percent interest compounded annually, how...
1.
If we place $7,654 in a savings account paying 7.5 percent interest
compounded annually, how much will our account accrue to in 8.5
years?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of...
If you bought a stock for $53 dollars and could sell it 16 years later for...
If
you bought a stock for $53 dollars and could sell it 16 years later
for three times what you originally paid. What was your return on
owning this stock?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is...
What is the present value of $929 to be received in 13.5 years from today if...
What is the present value of $929 to be received
in 13.5 years from today if our discount rate is 3.5
percent?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of each period only....
An investment adviser has promised to double your money. If the interest rate is 7% a...
An investment adviser has promised to double your money. If the interest rate is 7% a year, how many years will she take to do so? We have entered the data vou need in cells H9 to HI1: Present value (PV) Future value (FV) Interest rate (r) 1 2 0,06 You can use the present value formula to value an annuity You can either find the answer by taking logs of the present value formula or you can use Excel's...
You want to buy a car that will cost $33,100. You have $2,750 cash as a...
You want to buy a car that will cost $33,100. You have $2,750 cash as a down payment. You will finance the remainder of the cost through a loan that will require equal monthly payments of principal and 6.75% APR interest over five years Compute the amount of the monthly loan payment that you will need to make. Rate Nper PMT PV FV туре Prepare a loan amortization schedule using the format presented below. Use the amortization schedule to answer...
Cri computer Problem 5: You are buying a car. The one you have choosen to purchase is going to cost you $32,985. Your car salesman has told you that you can purchase this vehicle for $525 per month for 72 months. What interest rate will you be paying? Note: For a loan the price is listed Because the bank gives you the money in FV is 0, because the loan will be paid off NPER 1/Y (Rate) PV PMT FV...
You wish to buy a car for $12,000 at a 5% annual interest rate,
compounded monthly. The loan will be repaid in 5 years with monthly
payments. What is your monthly payment (calculated with the
equations on the next page)? Compare your answer to that obtained
with the built in function, PMT. Be sure to label all cells
appropriately. (There is no need to create a monthly payment table,
simply use the equations on the next page.)
Loans: where: and,...
You win the lottery! Do you wish to receive $2,000,000 in one
payment now, or $167,000 per year for 30 years? To help you in your
decision, estimate the present value of the second option assuming
constant annual interest rates of 6%, 8%, and 10%. Expound on your
decision within a text box. (You may use the built-in PV function
within Excel)
Loans: where: and, interest due at the end of each month A = payment P = principal (amount...
1) You wish to borrow $150,000 from a lending institution for the purchase of a house. The bank will lend this amount at an Annual Percentage Rate of 4.5% to be paid-off with equal monthly mortgage payments over a 30-year period. This is a 4.5% APR, 30-year fixed-rate mortgage loan. You wish to know how this loan will affect your federal income tax burden, as only the interest paid on a home mortgage, not the principal, is tax deductible. Construct...
how doni do this in excel and what is the interest rate?
Suppose that you wish to purchase a car and that your bank is offering to you a loan. You wish to explore the nature of this loan and the payments that you would have to make given certain circumstances such as the amount that you borrow. Fortunately, Excel offers a function (PMT) that calculates the payment for a loan based on constant payments and a constant interest rate....
1.
If we place $7,654 in a savings account paying 7.5 percent interest
compounded annually, how much will our account accrue to in 8.5
years?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of...
If
you bought a stock for $53 dollars and could sell it 16 years later
for three times what you originally paid. What was your return on
owning this stock?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is...
What is the present value of $929 to be received
in 13.5 years from today if our discount rate is 3.5
percent?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of each period only....
An investment adviser has promised to double your money. If the interest rate is 7% a year, how many years will she take to do so? We have entered the data vou need in cells H9 to HI1: Present value (PV) Future value (FV) Interest rate (r) 1 2 0,06 You can use the present value formula to value an annuity You can either find the answer by taking logs of the present value formula or you can use Excel's...
You want to buy a car that will cost $33,100. You have $2,750 cash as a down payment. You will finance the remainder of the cost through a loan that will require equal monthly payments of principal and 6.75% APR interest over five years Compute the amount of the monthly loan payment that you will need to make. Rate Nper PMT PV FV туре Prepare a loan amortization schedule using the format presented below. Use the amortization schedule to answer...
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