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What is the monthly payment to pay off the loan in 5 years

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1. What is the PV of $50,000 received 5 years from today at 8% interest?

2. What is the PV of a $5,000 annuity over 10 years at 5% interest?

3. What is the FV of $10,000 (received today) in 7 years at 9% interest?)

4. What is the FV of a $10,000 annuity over 7 years at 6% interest?

5. You would like to become a millionaire in 30 years (i.e. you would like to have $1,000,000 in 30 years). If you can find an investment that earns 12 percent per year, how much do you have to invest each year to reach your goal?

6. You need to borrow $15,000 for a period of 5 years. The interest rate is 12 percent. What is the annual payment to pay off the loan in 5 years? What is the monthly payment to pay off the loan in 5 years?

Reference no: EM13987392

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