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QUESTION 3 (9 marks) 3.1 Markus wants to buy a plot...
1. Shroug w rok wants to invest AED 800.000 in cash to buy a new car...
1. Shroug w rok wants to invest AED 800.000 in cash to buy a new car 4 years from today. She expects to cam 7 percent per year, compounded annually on her savings. How much should she get to meet this purpose? 2. What is the present value of AED 45.000 deposited for 6 years at 10 percent per annum interest compounded annually? 3. If you wish to accumulate AED 200,000 in 5 years, how much must you deposit today...
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 3 - 4 marks) Mr X wants to fund his grandsons education. He wants his...
(Question 3 - 4 marks) Mr X wants to fund his grandsons education. He wants his granson to be able to draw 18,000 in 18 years from now for a period of 5 years. He wants to set up a periodic savings plan to do so. If he makes equal annual payments into a savings account that pays 6% per year, how large must his payments be to ensure that his grandsons education is funded Present Value of annuity 14...
Question 4: Application of Time Value of Money to Mortgages (30 marks) Shanna wants to buy...
Question 4: Application of Time Value of Money to Mortgages (30 marks) Shanna wants to buy a house costing $325,000 and has obtained a loan from TD Bank. A minimum down payment of 15% would be required and the bank will provide the difference. Her grandparent have told her that they will cover her down payment. a. TD Bank has quoted her mortgage interest rate is 4.5%; this rate would be compounded semi- annually, while her payments would be made...
SIMPLE ANNUITY Instruction: Solve the given situations. Show your solutions (5 points each). 1. Find the...
SIMPLE ANNUITY Instruction: Solve the given situations. Show your solutions (5 points each). 1. Find the present value of an ordinary annuity with cash flows of $775.00 paid annually for 10 years at the interest rate of 1.40% per year, provided the interest is compounded annually. 2. Jon borrowed $46,000.00 to finance their college education. Jon has to make payments at the end of each quarter over the next 17 years in order to pay off this debt. How much...
1. Shirley wants to go on a trip to Hawaii. She budgets that she can save...
1. Shirley wants to go on a trip to Hawaii. She budgets that she can save $108 at the end of every month, and interest in her account is 8% compounded biweekly. By looking at prices, she knows that the trip will cost her $4813 total. How long in years (round to two decimal places) will it take before she can go on her trip? 2. Joey buys a new Honda civic for $18997. He agrees to payments at the...
Section 1: Short case studies (2marks each, total 10 marks) 1. Salman has only AED 70,000...
Section 1: Short case studies (2marks each, total 10 marks) 1. Salman has only AED 70,000 today but needs AED 150,000 to buy a new dream car. How long will he has to wait to buy the car if she can earn 13 percent compounded annually on her savings? 2. Ali wants to have AED 70,000,000 in cash to buy a furnished apartment 5 years from today in JLT. She expects to earn 11 percent per year, compounded semiannually, on...
2) Marcia Rodger borrowed $3,500 from Valley Bank at a rate of 9 %. The date of the loan was October 10. Marcia hop...
2) Marcia Rodger borrowed $3,500 from Valley Bank at a rate of 9 %. The date of the loan was October 10. Marcia hoped to repay the loan by February 10. Assume the loan is based on ordinary interest. What will the interest cost be? How much will Marcia repay on February 10? What would the payback be if exact interest was used? 3) Mike French borrowed $9,000 at 9% for 85 days. Calculate Mike's proceeds from this simple discount...
SHORT ANSWERS please USE THE FORMAT a - b - c - d 5-Which type of...
SHORT ANSWERS please USE THE FORMAT a - b - c - d 5-Which type of annuity best describes the insurance premium that you have to pay at the beginning of each period? a. Annuity due b. Deferred annuity c. Ordinary annuity d. Annuity in arrears 6-Richard takes the opinion of his investment advisor to invest any excess savings that he has. His advisor told him about a new issue of AAA rated bonds. Richard decided to buy a total...
grade 11 math.... please help I provided the answers and formulas One Payment P = A(1...
grade 11 math.... please help
I provided the answers and formulas
One Payment P = A(1 +1) " A = P(1 + i)" R[(1 + i)" - 1) Regular Repeated Payments FV 5) Boris is saving to buy a used car. Each month he deposits $100 into a savings account which pays $2%/a, compounded monthly. a) b) c) How much will Boris save in 2 years? How long will it take him to save $10 000? (Hint: Use guess and...
1. Shroug w rok wants to invest AED 800.000 in cash to buy a new car 4 years from today. She expects to cam 7 percent per year, compounded annually on her savings. How much should she get to meet this purpose? 2. What is the present value of AED 45.000 deposited for 6 years at 10 percent per annum interest compounded annually? 3. If you wish to accumulate AED 200,000 in 5 years, how much must you deposit today...
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 3 - 4 marks) Mr X wants to fund his grandsons education. He wants his granson to be able to draw 18,000 in 18 years from now for a period of 5 years. He wants to set up a periodic savings plan to do so. If he makes equal annual payments into a savings account that pays 6% per year, how large must his payments be to ensure that his grandsons education is funded Present Value of annuity 14...
Question 4: Application of Time Value of Money to Mortgages (30 marks) Shanna wants to buy a house costing $325,000 and has obtained a loan from TD Bank. A minimum down payment of 15% would be required and the bank will provide the difference. Her grandparent have told her that they will cover her down payment. a. TD Bank has quoted her mortgage interest rate is 4.5%; this rate would be compounded semi- annually, while her payments would be made...
SIMPLE ANNUITY Instruction: Solve the given situations. Show your solutions (5 points each). 1. Find the present value of an ordinary annuity with cash flows of $775.00 paid annually for 10 years at the interest rate of 1.40% per year, provided the interest is compounded annually. 2. Jon borrowed $46,000.00 to finance their college education. Jon has to make payments at the end of each quarter over the next 17 years in order to pay off this debt. How much...
Section 1: Short case studies (2marks each, total 10 marks) 1. Salman has only AED 70,000 today but needs AED 150,000 to buy a new dream car. How long will he has to wait to buy the car if she can earn 13 percent compounded annually on her savings? 2. Ali wants to have AED 70,000,000 in cash to buy a furnished apartment 5 years from today in JLT. She expects to earn 11 percent per year, compounded semiannually, on...
2) Marcia Rodger borrowed $3,500 from Valley Bank at a rate of 9 %. The date of the loan was October 10. Marcia hoped to repay the loan by February 10. Assume the loan is based on ordinary interest. What will the interest cost be? How much will Marcia repay on February 10? What would the payback be if exact interest was used? 3) Mike French borrowed $9,000 at 9% for 85 days. Calculate Mike's proceeds from this simple discount...
grade 11 math.... please help
I provided the answers and formulas
One Payment P = A(1 +1) " A = P(1 + i)" R[(1 + i)" - 1) Regular Repeated Payments FV 5) Boris is saving to buy a used car. Each month he deposits $100 into a savings account which pays $2%/a, compounded monthly. a) b) c) How much will Boris save in 2 years? How long will it take him to save $10 000? (Hint: Use guess and...
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