Compute maturity value under simple interest is charged

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1. Maruti Motors, Inc., receives a one-year note that carries a 12 percent annual interest rate on $3,000 for the sale of a used car. Compute the maturity value under each of the following assumptions: (1) Simple interest is charged. (2) The interest is compounded semiannually. (3) The interest is compounded quarterly. (Round to the nearest cent.)

present Value Calculations

2. Find the present value of (1) a single payment of $24,000 at 6 percent for 12 years, (2) 12 annual payments of $2,000 at 6 percent, (3) a single payment of $5,000 at 9 percent for five years, and (4) five annual payments of $5,000 at 9 percent.

Reference no: EM13914770

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