Homework Answers
![12 750 = PMT 0.34394 x 1.03 0.03 0.35423 12750 = PMT 0,03 12750 = PMT [ 12. 80779] .pm T 12756 11.80779 1, PMT 1079.79 PMT 1](http://img.homeworklib.com/questions/3ad86020-ebd3-11ea-b9e1-23fd051ed7ef.png?x-oss-process=image/resize,w_560)
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If Russell wanted to start making payments today, what would be the amount of each payment...
QUESTION 4 Find the amount of each payment to be made into a sinking fund so...
QUESTION 4 Find the amount of each payment to be made into a sinking fund so that enough money will be able to pay off a loan of $34,050 due in 9 years if money is earns 4.50% compounded annually. Assume this to be an ordinary annuity. A. $3,152.16 B. $2,770.95 C. $3,630.06 D. $3,184.39 QUESTIONS If Russell wanted to start making payments today, what would be the amount of each payment into a sinking fund so that enough money...
Find the amount of each payment to be made into a sinking fund so that enough...
Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. $80,000; money earns 4.2% compounded monthly for 1 years $2131.89 51994.94 51968.15 56539.30
Find the amount of the payment to be made into a sinking fund so that enough...
Find the amount of the payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. $85,000; money earns 4% compounded semiannually years The payment size is $ . (Do not round until the final answer. Then round to the nearest cent.)
A: What is the amount of the payments that Henry Winslow must make at the end...
A: What is the amount of the payments that Henry Winslow must make at the end of each of 8 years to accumulate a fund of $86,200 by the end of the 8th year, if the fund earns 8% interest, compounded annually? B: Morgan Hitchcock is 39 years old today and he wishes to accumulate $513,000 by his 63rd birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal...
A: What is the amount of the payments that Henry Winslow must make at the end...
A: What is the amount of the payments that Henry Winslow must make at the end of each of 8 years to accumulate a fund of $86,200 by the end of the 8th year, if the fund earns 8% interest, compounded annually? B: Morgan Hitchcock is 39 years old today and he wishes to accumulate $513,000 by his 63rd birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal...
Dominic borrows 7200 dollars today, and agrees to repay the loan by making annual interest payments...
Dominic borrows 7200 dollars today, and agrees to repay the loan by making annual interest payments to the lender, and by also accumulating a sinking fund with increasing annual deposits to repay the principal. The interest rate on the loan is 8.8 percent, and the interest paid on the sinking fund is 6.7 percent, both effective. If the loan is to be settled 15 years from now, and the sinking fund deposits increase by 7 dollars per year, what is...
1) Carlos has borrowed $8,000 for 8 years at 6% compounded semi-annually. He will repay interest...
1) Carlos has borrowed $8,000 for 8 years at 6% compounded semi-annually. He will repay interest every 6 months plus principal at maturity. He will also deposit X every 6 months into a sinking fund paying 5% compounded semi-annually to pay off the principal at maturity. a) Find X. Carlos goes bankrupt at the end of year 6, just after making his interest payment and sinking fund deposit. The bank confiscates the money in the sinking fund but gets no...
A company borrows $160000, which will be paid back to the lender in one payment at the end of 5 years. The company agree...
A company borrows $160000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay semi-annually interest payments at the nominal annual rate of 10% compounded semi-annually. At the same time the company sets up a sinking fund in order to repay the loan at the end of 5 years. The sinking fund pays interest at an annual nominal interest rate of 4% compounded semi-annually. Find the total amount...
If money earns 6.36% compounded quarterly, what single payment in three years would be equivalent to...
If money earns 6.36% compounded quarterly, what single payment in three years would be equivalent to a payment of $3,230 due two years ago, but not paid, and $800 today? Round to the nearest cent Next Question Question 3 of 4 Two payments of $17,000 and $2,600 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 3 months and in 4 years if money is worth 10.5% compounded...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
QUESTION 4 Find the amount of each payment to be made into a sinking fund so that enough money will be able to pay off a loan of $34,050 due in 9 years if money is earns 4.50% compounded annually. Assume this to be an ordinary annuity. A. $3,152.16 B. $2,770.95 C. $3,630.06 D. $3,184.39 QUESTIONS If Russell wanted to start making payments today, what would be the amount of each payment into a sinking fund so that enough money...
Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. $80,000; money earns 4.2% compounded monthly for 1 years $2131.89 51994.94 51968.15 56539.30
Find the amount of the payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. $85,000; money earns 4% compounded semiannually years The payment size is $ . (Do not round until the final answer. Then round to the nearest cent.)
1) Carlos has borrowed $8,000 for 8 years at 6% compounded semi-annually. He will repay interest every 6 months plus principal at maturity. He will also deposit X every 6 months into a sinking fund paying 5% compounded semi-annually to pay off the principal at maturity. a) Find X. Carlos goes bankrupt at the end of year 6, just after making his interest payment and sinking fund deposit. The bank confiscates the money in the sinking fund but gets no...
If money earns 6.36% compounded quarterly, what single payment in three years would be equivalent to a payment of $3,230 due two years ago, but not paid, and $800 today? Round to the nearest cent Next Question Question 3 of 4 Two payments of $17,000 and $2,600 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 3 months and in 4 years if money is worth 10.5% compounded...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
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