Homework Answers
rate positively ..
| WE have to use financial calculator to solve this | |||
| put in calculator | |||
| FV | 80000 | ||
| PV | 0 | ||
| I | 4.2%/12 | 0.35% | |
| N | 12 | ||
| Compute PMT | ($6,539.30) | ||
| ans = | $6,539.30 |
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Find the amount of each 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...
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.)
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...
1. In order to accumulate enough money for a down payment on a house, a couple...
1. In order to accumulate enough money for a down payment on a house, a couple deposits $745 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 6 years? 2. Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $14,000; quarterly payments...
1- In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer
1- In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $275 monthly at 5.6% to accumulate $25,000. _________yr 2- Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $18,000 at 3% for 15 years if...
1. In order to accumulate enough money for a down payment on a house, a couple deposits $507 per month into an account...
1. In order to accumulate enough money for a down payment on a house, a couple deposits $507 per month into an account paying 3% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 5 years? 2. A company estimates that it will need $125,000 in 16 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 3.3%...
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid...
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid over a 30 year payment plan. The payment size is $ (Round to the nearest cent.) Find the size of each of 4 payments made at the end of each year into a 9% rate sinking fund which produces $56000 at the end of 4 years. The payment size is $ (Round to the nearest cent.) Find the amount of each payment to be...
6 Q097 Sinking Fund Veronica wants to set up a sinking fund in order to have...
6 Q097 Sinking Fund Veronica wants to set up a sinking fund in order to have $16,300. in 14 years. she can obtain an annual interest rate of 3.65%. Find the amount of payment she should pay into the fund at the end of each period in order to achieve this goal. Assume that the interest on the fund is compounded monthly and the payments are at the end of each month. Round your final answer to the nearest penny....
1- In the following ordinary annuity, the interest is compounded with each payment, and the payment...
1- In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $275 monthly at 5.6% to accumulate $25,000. _________yr 2- Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $18,000 at 3% for 15 years if...
In the following ordinary annuity, the interest is compounded with each payment, and the payment is...
In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $295 monthly at 5.6% to accumulate $25,000.
16. Suppose $15,000 is invested at an annual rate of 5% for 12 years. Find the...
16. Suppose $15,000 is invested at an annual rate of 5% for 12 years. Find the compounded amount interest is compounded as follows. a.) Annually b.) Semiannually c.) Quarterly d.) Monthly 17. Find the present value of each compounded amount: a.) $42000 in 7 years, 6% compounded monthly. b) $17,650 in 4 years, 4% compounded quarterly. c.) S 1347.89 in 3 years, 5.5% compounded semiannually. 18. Find the future value of each annuity. a.) S 1288 deposited at the end...
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.)
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...
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid over a 30 year payment plan. The payment size is $ (Round to the nearest cent.) Find the size of each of 4 payments made at the end of each year into a 9% rate sinking fund which produces $56000 at the end of 4 years. The payment size is $ (Round to the nearest cent.) Find the amount of each payment to be...
6 Q097 Sinking Fund Veronica wants to set up a sinking fund in order to have $16,300. in 14 years. she can obtain an annual interest rate of 3.65%. Find the amount of payment she should pay into the fund at the end of each period in order to achieve this goal. Assume that the interest on the fund is compounded monthly and the payments are at the end of each month. Round your final answer to the nearest penny....
16. Suppose $15,000 is invested at an annual rate of 5% for 12 years. Find the compounded amount interest is compounded as follows. a.) Annually b.) Semiannually c.) Quarterly d.) Monthly 17. Find the present value of each compounded amount: a.) $42000 in 7 years, 6% compounded monthly. b) $17,650 in 4 years, 4% compounded quarterly. c.) S 1347.89 in 3 years, 5.5% compounded semiannually. 18. Find the future value of each annuity. a.) S 1288 deposited at the end...
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