How many years will it take for an initial sum of $482

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Reference no: EM13909676

COMPUTE THE BELOW QUESTIONS IN EXCEL! SHOW YOUR WORK!

1. If $9,811 is invested today in a savings account at an annual interest rate compounded annually of 9.81% the balance in the account 6 years hence will be:

2. If you want to have $19049 11 months from today and the applicable interest rate is 5.29% per year compounded quarterly, the lump sum amount you need to invest today is:

3. The present value of $48,098 due 15 years from today when the annual interest rate of 4.76% is compounded annually is:

4. At 4.76% annual interest compounded semiannually how many years will it take for an initial sum of $482 to grow to $79,049?

5. The present value of $13,859 to be received 20 years from today at an annual rate of 13.81% compounded quarterly is:

6. Your uncle deposits $1,387 per month for 23 months in an account paying interest of 3.81% per year compounded monthly. The payments begin one month from today. At the end of 67 months the balance in your account is:

7. Your company wishes to fund an annuity that will pay $2,953 per month for 17 years starting one month from today. If the annual interest rate compounded monthly is 6.07% your deposit should be approximately:

8. You own a fleet of trucks. The trucks cost $24,525 each. You can lease one of your extra trucks for 6 years after which the salvage value will be $4,535. If you want to earn interest at a rate of 16.07% per year compounded monthly, the beginning of the month lease payment you require will be:

9. Your company wants to set up a sinking fund today to pay off a bond issue 23 years hence. If the face value of the bonds will be $245,243 and you can earn 15.24% per annum compounded monthly, the monthly deposits starting one month from today would be:

10. Your company is considering purchasing a loan. This loan makes annual payments of $291 a year for 11 years. At the end of year 12 the payments rise to $391 per year for an additional 10 years. If interest rates are 15.24% per year compounded annually, the present value of the loan is:

Reference no: EM13909676

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