Homework Answers
rate positively ..
| Ans a) | Correct answer is : Annuity due | |||
| Ans b) | We have to use financial calculator - | |||
| set the calculator in BEGIN mode | ||||
| put in calculator - | ||||
| FV | 0 | |||
| PV | -700000 | |||
| I | 7.5%/2 | 3.75% | ||
| N | 4*2 | 8 | ||
| compute PMT | $99,179.64 | |||
| ans = | $99,179.64 | |||
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9. -/1 points HarMathAp 12 6.4.029. My Notes Ask Your Teacher Recent sales of some real estate and record profits m...
Recent sales of some real estate and record profits make it possible for a manufacturer to...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $700,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 5 years if the fund earns 6.4%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. o ordinary annuity o annuity due (b) Solve the problem. (Round...
Recent sales of some real estate and record profits make it possible for a manufacturer to...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $1,000,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 3 years if the fund earns 7.4%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity Oannuity due (b) Solve the problem. (Round your...
Recent sales of some real estate and record profits make it possible for a manufacturer to...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $900,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 5 years if the fund earns 7.3%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) Solve the problem. (Round your...
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As the contestant with the longest winning streak in the history of ropardy, Ken Jennings won more than $2.5 million. Suppose he invested $1.6 million in an ordinary annuity that earned 4.8%, compounded monthly. How much would he receive at the end of each month for the next 25 years? (a) Decide whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due (b) Selve the problem. (Round your answer to the nearest cent.)...
9. 12 points HarMathAp11 6.4.039 My Notes Ask Your Teacher Juanita Domingo's parents want to establish...
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3. -/1 points HarMathAp 12 6.4.007. My Notes Ask Your Teacher With a present value of...
3. -/1 points HarMathAp 12 6.4.007. My Notes Ask Your Teacher With a present value of $125,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years of money is worth 6.2% compounded quarterly? (Round your answer to the nearest cent.) Need Help? Read Watch It Talk to a Tutor My Notes Ask Your Teacher 4. -/1 points HarMathAp 12 6.4.009. that our compounded quarterly and
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Submit Answer Practice Another Version -/3 points HarMathAp 12 6.5.017. My Notes Ask Your Teacher The...
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7. -/3 points HarMath Ap 12 6.5.017. My Notes Ask Your Teacher The problem describes a...
7. -/3 points HarMath Ap 12 6.5.017. My Notes Ask Your Teacher The problem describes a debt to be amortized. (Round your answers to the nearest cent.) A man buys a house for $320,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 13 years. The interest rate on the debt is 13%, compounded semiannually. (a) Find the size of each payment. (b) Find the total amount paid for...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $700,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 5 years if the fund earns 6.4%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. o ordinary annuity o annuity due (b) Solve the problem. (Round...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $1,000,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 3 years if the fund earns 7.4%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity Oannuity due (b) Solve the problem. (Round your...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $900,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 5 years if the fund earns 7.3%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) Solve the problem. (Round your...
A state lottery pays $10,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 8.2%, compounded monthly (a) Decide whether the problem relates to an ordinary annuity or an annuity due. annuity due O ordinary annuity () Solve the problem. (Round your awer to the nearest cont.) $ Recent sales of some real estate and record profits make...
As the contestant with the longest winning streak in the history of ropardy, Ken Jennings won more than $2.5 million. Suppose he invested $1.6 million in an ordinary annuity that earned 4.8%, compounded monthly. How much would he receive at the end of each month for the next 25 years? (a) Decide whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due (b) Selve the problem. (Round your answer to the nearest cent.)...
9. 12 points HarMathAp11 6.4.039 My Notes Ask Your Teacher Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $2500, with the first withdrawal 3 months from now. If money is worth 7%, compounded quarterly, how much must be deposited now to provide for this trust? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. o ordinary annuity annuity due (b) Solve the problem. (Round...
3. -/1 points HarMathAp 12 6.4.007. My Notes Ask Your Teacher With a present value of $125,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years of money is worth 6.2% compounded quarterly? (Round your answer to the nearest cent.) Need Help? Read Watch It Talk to a Tutor My Notes Ask Your Teacher 4. -/1 points HarMathAp 12 6.4.009. that our compounded quarterly and
5. -/1 points HarMathAp 12 6.4.011. My Notes Ask Your Teacher Suppose that a 25-year government bond has a maturity value of $1000 and a coupon rate of 9%, with coupons paid semiannually. Find the market price of the bond if the yield rate is 8% compounded semiannually. (Round your answer to the nearest cent.) Is this bond selling at a discount or at a premium? discount premium Need Help?
Submit Answer Practice Another Version -/3 points HarMathAp 12 6.5.017. My Notes Ask Your Teacher The problem describes a debt to be amortized (Round your answers to the nearest cent.) A man buys a house for $370,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next years. The interest rate on the debt is 5%, compounded semiannually (a) Find the size of each payment. (b) Find the total amount...
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