Question

320,UVU 111 all diuuily ulat will llare a level payment al lhe end of each year until his death. If interest rate is 8.5 percent, what income can Mr. Basset expect to receive each year? 5. James and Helen Turnip are saving to buy a boat at the end of 5 years. If the boat will cost $20,000 and they can earn 11 percent a year on their savings, how much do they need to put aside at the end of years 1 through 5? A miffarine free radi na nav 1000 or you may $1000 down and then 300

Answer 1

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SUM 5

- 2x Fa Merge & Center S -% , 62 -3 Conditional complete in Σ AutoSum : A Fill Sort & Find & 2 Clear Filter Select Editing CV CW cx | CY CZ DA PV, FV, ANNUITY (Autosaved) - Microsoft Excel (Product Activation Failed) File Home Insert Page Layout Formulas Data Review View Add-Ins % Cut Calibri -11AA = = = Dr Wrap Text General Ea Copy Paste Conditional Format BI U DA Cell Insert Delete Format Format Painter Formatting as Table Styles Clipboard Font Alignment Number Styles Cells CY397 fax CT CU 396 397 398 USING EXCEL 399 FUTURE VALUE 20000 400 YEARS RATE 11.00% 402 ANSWER PMT 3211.41 (=PMTCW401, CW400,,-CW399)] 403 404 USING FORMULA 405 FUTURE VALUE = (PMT/r)*((1+r)^n - 1) 407 20000 = (PMT/0.11)*((1+0.11)^5- 1) 408 20000 = (PMT/0.11)*(0.685058155) 20000 = PMT*6.22780141 410 ANSWER PMT= 3211.41 411 401 406 409 112 K pv, fv, annuity CAP STRU VALUE profit margin symbols LOCK BOX DILUTION DOLLAR COST AVG MORTGAGE EXPONPER APR CPI L OAN OPTIONS 1 ferences Rea ear FVA pva Shel 00150% . * O ENG l 0 + 03:47 17-08-2019 DOR