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Problem Set 1. A man is paying off a debt of $15,000 with regular payments of...
5. We wish to accumulate a fund of $60,000 by making regular deposits of $1,525 at...
5. We wish to accumulate a fund of $60,000 by making regular deposits of $1,525 at the end of each month for as long as is necessary. If the annual rate of interest is 6% compounded monthly, how many regular deposits will be necessary and find the final deposit to be made one month after the last regular deposit.
4. Consider an annuity paying $150 every month at 18% compounded monthly. How many payments will...
4. Consider an annuity paying $150 every month at 18% compounded monthly. How many payments will be necessary and what would be the ballo payment, and fractional payment (as in Example 3.6) to amount to exactly $15,000?
1. You won $100 000 in a lottery and you want to set some of that...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
1-determine how much of the loan will be paid off by the final ballon payment 2-how...
1-determine how much of the loan will be paid off by the final
ballon payment
2-how much loan must be paid off by the monthly payment
3-the monthly payments needed to pay off the portion of the
loan that is not paid off by the final balloon payment
(Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is going to finance the purchase with seller financing that is, a loan from the current owners...
Please post with mathematical formulas please, not an excel sheet! 1. Mr. X is repaying a loan by monthly payments of $1...
Please post with mathematical
formulas please, not an excel sheet!
1. Mr. X is repaying a loan by monthly payments of $146.75 at a nominal annual rate of 9% compounded monthly. Immediately after one of the pay- ments is made, when Mr. X has still 50 payments ahead of him, the lender lowers the interest rate to 7.8% nominal annual rate compounded monthly. Mr. X chooses to keep the same monthly payments, except the last payment that is larger than...
Problem 4: An estate worth $1,500,000 and earning 24% per annum compounded monthly makes equal payments...
Problem 4: An estate worth $1,500,000 and earning 24% per annum compounded monthly makes equal payments of $50,000 at the end of each month to Betty and Bob. a. Algebraically determine how many payments they will receive. b. Algebraically determine the amount of the last payment that will settle the estate. Mornan 1907
Problem #3: Mort is to pay off a loan of $80,000 with equal payments at the...
Problem #3: Mort is to pay off a loan of $80,000 with equal payments at the end of every month over 10 years (i.e., 120 months). The ANNUAL effective rate is 4.5%. Mort decides that he can actually manage to pay double the monthly payment each month. How many MONTHS will it take him to pay off the loan? (Include the final month where the last payment will be smaller than all the rest.) Problem #3: Answer in integer number...
1.-Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Quarterly payments...
1.-Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Quarterly payments on $15,500 at 3.7% for 6 years $ 2.- A MasterCard statement shows a balance of $510 at 13.5% compounded monthly. What monthly payment will pay off this debt in 1 year 10 months? (Round your answer to the nearest cent.) $ 3.- Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 7 years of monthly payments on...
A man decides to pay $250 per month at 5%/a compounded monthly to pay off a...
A man decides to pay $250 per month at 5%/a compounded monthly to pay off a $25 000 loan. After 2 years, he is making a bit more money and decides to increase the monthly payment. If he pays $50 extra per month at the end of each 2-year period, how long will it take him to pay off the loan?
Functions 1. You are presented with two investment strategies for the next ten years. In strategy A, you deposit $300 into an account at the end of each month for the next four years, then allow the...
Functions 1. You are presented with two investment strategies for the next ten years. In strategy A, you deposit $300 into an account at the end of each month for the next four years, then allow the account to accumu- late interest for the remaining six years. In strategy B, you do nothing for five years and then deposit $300 at the start of each month for the remaining five years. In both cases, interest is paid at the rate...
5. We wish to accumulate a fund of $60,000 by making regular deposits of $1,525 at the end of each month for as long as is necessary. If the annual rate of interest is 6% compounded monthly, how many regular deposits will be necessary and find the final deposit to be made one month after the last regular deposit.
4. Consider an annuity paying $150 every month at 18% compounded monthly. How many payments will be necessary and what would be the ballo payment, and fractional payment (as in Example 3.6) to amount to exactly $15,000?
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
1-determine how much of the loan will be paid off by the final
ballon payment
2-how much loan must be paid off by the monthly payment
3-the monthly payments needed to pay off the portion of the
loan that is not paid off by the final balloon payment
(Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is going to finance the purchase with seller financing that is, a loan from the current owners...
Please post with mathematical
formulas please, not an excel sheet!
1. Mr. X is repaying a loan by monthly payments of $146.75 at a nominal annual rate of 9% compounded monthly. Immediately after one of the pay- ments is made, when Mr. X has still 50 payments ahead of him, the lender lowers the interest rate to 7.8% nominal annual rate compounded monthly. Mr. X chooses to keep the same monthly payments, except the last payment that is larger than...
Problem 4: An estate worth $1,500,000 and earning 24% per annum compounded monthly makes equal payments of $50,000 at the end of each month to Betty and Bob. a. Algebraically determine how many payments they will receive. b. Algebraically determine the amount of the last payment that will settle the estate. Mornan 1907
Problem #3: Mort is to pay off a loan of $80,000 with equal payments at the end of every month over 10 years (i.e., 120 months). The ANNUAL effective rate is 4.5%. Mort decides that he can actually manage to pay double the monthly payment each month. How many MONTHS will it take him to pay off the loan? (Include the final month where the last payment will be smaller than all the rest.) Problem #3: Answer in integer number...
A man decides to pay $250 per month at 5%/a compounded monthly to pay off a $25 000 loan. After 2 years, he is making a bit more money and decides to increase the monthly payment. If he pays $50 extra per month at the end of each 2-year period, how long will it take him to pay off the loan?
Functions 1. You are presented with two investment strategies for the next ten years. In strategy A, you deposit $300 into an account at the end of each month for the next four years, then allow the account to accumu- late interest for the remaining six years. In strategy B, you do nothing for five years and then deposit $300 at the start of each month for the remaining five years. In both cases, interest is paid at the rate...
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