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Calculate the amount of withdrawal

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Question 1

A local charity has just received a donation for $ 80,000 as well as the promise of another $ 50,000 contribution in one year . The contributions will be invested in an account earning j12 = 4.8 % until needed for the purchase of new equipment . The money will be withdrawn in two equal amounts . The first withdrawal will be in 3 years and the second will be in 4 years . Calculate the amount of each withdrawal

Question 2

Joseph is selling his sailboat . He has received two offers . The first offer is for $ 5,000 today and another $ 7,000 in nine months . The second offer is for $ 6,000 today and another $ 6,000 in one year . Calculate the current economic value of both offers using an annual simple interest rate of 4.30 % per annum . How much more money will he receive if he chooses the best offer ?

Question3

Calculate the fair market value ( price ) of an investment that guarantees payments of $ 5,800 in 8 months , $ 8,100 in 12 months , and $ 6,000 in two years . Use a rate of 9 % compounded monthly?

Question 4

Rob deposited $ 2,205 into an account earning a simple rate of 4.75 % per annum for 8 months . How much interest will he earn?

Reference no: EM133072935

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