Reference no: EM133049457
1. At? Petruske's Warehouse, the forklift needs major repair. A new forklift can be purchased at a current cost of $30,000. If the new forklift is? purchased, month-end payments of ?$680 would start in two? years, and continue for five years. Interest for the first two years is charged at 8.23?% compounded annually. What is the monthly compounded interest rate for the payment? period?
The monthly compounded interest rate is _______%.
?(Round to two decimal places as? needed.)
2. For her? daughter's education, Georgina Harcourt has invested an inheritance in a fund paying 3.9?% compounded semi-annually. If ordinary annuity payments of ?$174 per month are to be made out of the fund for six ?years, how much was the? inheritance?
The inheritance was ?$_________.
?(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as? needed.)
3. Find the future value and the present value for the following annuity due.
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Periodic Payment
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Payment Interval
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Term
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Interest Rate
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Conversion Period
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?$90
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1 month
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11 years
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3.7?%
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monthly
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The future value of the annuity due $_________.
?(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as? needed.)
The present value of the annuity due is ?$________.
?(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as? needed.)
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What is the size of the annual investments
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: 1. At? Petruske's Warehouse, the forklift needs major repair. A new forklift can be purchased at a current cost of $30,000.
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