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Homework answers / question archive / Exercise 1) Find Interest - $35,000 at 6% for 9 months Exercise 2 Find Interest - $1875 at 5

Exercise 1) *Find Interest* - $35,000 at 6% for 9 months

Exercise 2 *Find Interest* - $1875 at 5.3% for 7 Months

Exercise 3 *Find Interest* - $8940 at 9%; loan made May 7 and due Sept. 19

Exercise 4 *Find FV* – $3475 Loan at 7.5% for 6 Months

Exercise 5 *Find FV* – $24,500 Loan at 9.6% for 10 Months

Exercise 6 *Find Present Value of *$48,000 for 8 Months money earn 5%* *

* future amount *

* *

Exercise 7 *A. Find the Price of the T-Bill B. Find the actual Interest rate paid by the treasury*

6 Month T-Bill $18,000 with discount rate of 1.925%

Exercise 8 $725896.15 Late income Tax Due 34 Days 9.8% Interest

Exercise 9 $10,000 Loan 6.75% Total Interest Paid $618.75 Find the time period (t)

__SECTION 5.2__

Exercise 10 *Find compound amount* - $1,000 at 6% compounded annually for 10 years

Exercise 11 *Find compound amount* - $15,000 at 4.6% compounded semi-annually for 11 years

Exercise 12 *Find Interest Earned* - $22,000 at 5% compounded annually for 8 years

Exercise 13 *Find Interest Earned* - $27,630.35 at 4.6% compounded quarterly for 3.9 years

Exercise 14 *Find the interest rate (with annual compounding) *$9000 grows to $17,118 in 16 years

Exercise 15 Find Face Value of 10 Year Bond at 4.1%; Price $13,328

Exercise 16 Find Face Value of 25 Year Bond at 4.4%; Price $10,106

Exercise 17 Find the APY corresponding to the given nominal rates *4.7% Compounded Semiannually*

*. *

Exercise 18 *If money can be invested at 6% compounded annually, which is larger, $10,000 now or $15,000 in 6 Years**? Use Present Value to decide.*

Exercise 19 *A developer needs $80,000 to buy land. He can borrow at 10% compounded quarterly. *

*How much will the interest amount to if he pays it off in 5 years.*

Exercise 20 *Partner A contributes $10,000 now, Partner B will match equal amount in 3 years. *

* How much will Partner B contribute? (Assume 6% compounded semiannually)*

__SECTION 5.3__

Exercise 21 *Find the future value of an Ord. Annuity **R = $20,000; 4.5% interest compounded annually for 12 years*

Exercise 22* Find the future value of an Ord. Annuity **R = $20,000; 6% interest compounded quarterly for 12 years*

Exercise 23 *Find the Final amount in each retirement account ** *

Exercise 24* Find the amount of each PMT **R = $65,000; 6% compounded semiannually for 4 ½ years*

Exercise 25* Find the Interest Rate needed **$100,000; quarterly payments of $1200 for 15 years*

Exercise 26 *Find the Future value of each annuity due*. Pmt $1050 for 8 years at 3.5% compounded annually

Exercise 27 *Find the Future value of each annuity due*. Pmt $25000 for 12 years at 6% compounded annually

Exercise 28 *Find the payment* $12,000; pmts for 6 years; interest rate 5.1%

Exercise 29 *$80 compounded monthly for 3 years 9 months (45 periods); 7.5% interest*

Exercise 30 *$2435 compounded semiannually for 8 years (16 periods) 6% interest; leaves the money alone with no additional deposits for another 5 years (10 periods)*

Exercise 31 *Find the PV of ordinary Annutiy* $890 Pmt, 6% compounded annually for 16 years

Exercise 32 *Find the amount necessary to fund withdrawals* $1200, 5.6% compounded annually for 14 years

Exercise 33 *Find the payment made by the ordinary annuity w/ given PV *

Exercise 34 *Find the lump sum deposited today that will yield the same total as payments of $10,000 at the end of each year for 15 years of the given interest rates ***4% Compounded Annually**

First find the Future value of the lump sum, than find the present value that will match the sum of the future.

Exercise 35 Find price purchaser should be willing to pay, assume coupon rate is paid twice a year.

$20,000 Bond coupon rate 4.5% matures in 8 years current Interest rate 5.9%

Exercise 36 Find the payment to amortize these loans $140,000; 12% compounded quarterly 15 quarterly payments

Exercise 37 Find monthly house payment necessary to amortize the given loans $96,511 at 8.57% for 25 years

Exercise 38 Use the amort table. How much of the 10^{th} payment is used to reduce the debt?

Exercise 39 Student borrow $35,000 10 years with monthly payments 7.43% compounded monthly

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