Homework Answers
(a) A = P[i(1 + i)n / (1 + i)n - 1]
= 10000[0.05(1 + 0.05)5 / (1 + 0.05)5 - 1]
= 10000 [0.0638 / 0.2763]
= $2,309.08
(b) A = P[i(1 + i)n / (1 + i)n - 1]
= 5500[0.097(1 + 0.097)4 / (1 + 0.097)4 - 1]
= 5500 [0.1405 / 0.4482]
= $1,724.12
(c) A = P[i(1 + i)n / (1 + i)n - 1]
= 8500[0.025(1 + 0.025)3 / (1 + 0.025)3 - 1]
= 8500 [0.0269 / 0.0769]
= $2,973.34
(d) A = P[i(1 + i)n / (1 + i)n - 1]
= 30000[0.085(1 + 0.085)20 / (1 + 0.085)20 - 1]
= 30000 [0.4345 / 4.1120]
= $3,170
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