Reference no: EM132416063

BUSI 1003 Math for Business Assignment - Yorkville University, Canada

Question 1 - How much interest is included in the accumulated value of $4750 paid at the end of every six months for 4.5 years if the interest rate is 8.5% compounded semi-annually?

Question 2 - You have inherited some money and you want to set some of that money aside for ten years. After ten years, you would like to receive $7600.00 at the end of each 6 months for nine years. If the interest is 6.5% compounded semi-annually, how much of your inheritance must you set aside?

Question 3 - If a loan was repaid by ordinary yearly payments of $2000.00 in five years at 9.00%, compounded yearly, how much interest was paid?

Question 4 - A $15000.00 loan requires payments at the end of each month for five years. If the interest rate on the loan is 12% compounded monthly, calculate the size of each payment.

Question 5 - $1000.00 is deposited at the end of every month into an account earning 6.00% compounded monthly. If the balance in the account five years after the last deposit is to be $50000.00, how many deposits are needed?

Question 6 - What is the discounted value of $3000.00 paid at the end of every six months for 5 years if interest is 8.00% compounded yearly?

Question 7 - You won $250,000.00 in a lottery and you want to set some of that sum of money aside for 11.5 years. After 11.5 years, you would like to receive $4500.00 at the end of each month for 4.75 years. If the interest is 6.79% compounded annually, how much of your winnings must you set aside?

Question 8 - How much must be deposited at the end of each month for 10 years to accumulate to $100,000.00 at 6.00% compounded yearly?

Question 9 - Petra bought a car priced at $19700.00 for 10% down and equal monthly payments for 4.5 years. If interest is 8.22% compounded semi-annually, what is the size of the monthly payment?