Find the monthly house payment necessary to amertize

Assignment Help Financial Management

Reference no: EM131903145

1.) Find the amount by which the interest compounded annually is larger than the siple interest. (Round to the nearest cent.)
Principal: $930 Rate: 6% Years: 7

2.) Find the amount by which the interest compounded annually is larger than the simple interest. (Round to the nearest cent.)
Princial: $910 Rate: 4% Years: 17

3.) Barbara knows that she will need to buy a new car in 6 years. The car will cost $15,000 by then. How much should she invest now at 4%, compounded quarterly so that she will have enough to buy a new car?

a.) 11,813.49
b.) 11,398.77
c.) 12,328.91
d.) 13,319.57

4.) If inflation is 4% a year compounded annually, what will it cost in 25 years to buy a house currently valued at $374,000? (round to the nearest cent.)

5.) Find the monthly house payment necessary to amertize the following loan.
$116,000 at 6.6% for 30 years

6.) Find the monthly house payments necessary to amortize the following loan.
$459,000 at 6.4% for 15 years

7.) Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated.
R =$2,500 i = 7% interst compounded quarterly for 16 years

Reference no: EM131903145

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