Reference no: EM132764460
Questions -
Q1. Find the amount and the present value of an annuity of 1,500 every 3 months for 5 years if money is worth 8% compounded quarterly.
Q2. Polly purchased a car. She paid 150,000 as down payment and pays 5,500 at the end of each month for 48 months. If the interest is 7.8% compounded monthly, how much was the car worth?
Q3. A house and lot are worth 4.3 million in cash. A buyer pays a 40% downpayment and agrees to pay the balance by equal payments at the end of each month for 10 years at the rate of 9% compounded monthly. How much will be the monthly payment?
Q4. In order to have 1 million in a fund at the end of 15 years, how much must be deposited in the fund every quarter if money can be invested at 10.5% compounded quarterly?
Q5. Find the present value and final amount of an annuity of 12,000 at the beginning of every 6 months for a term of 8 years if the interest is 9.8% compounded semiannually.
Q6. An investment of 2,850 is made at the beginning of each month for 6 years and 7 months. How much will the investment be at the end of the term if interest is 11% compounded monthly?
Q7. A loan of 40,000 is to be amortized by equal payments at the beginning of each quarter for 18 months. If interest is 7.5% compounded quarterly, find the periodic payment.
Q8. Find the present value and final amount of an annuity of 12,000 at the beginning of every 6 months for a term of 8 years if the interest is 9.8% compounded semiannually.
Q9. An investment of 2,850 is made at the beginning of each month for 6 years and 7 months. How much will the investment be at the end of the term if interest is 11% compounded monthly?
Q10. A loan of 40,000 is to be amortized by equal payments at the beginning of each quarter for 18 months. If interest is 7.5% compounded quarterly, find the periodic payment.
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