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What is the present value of an annuity

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Reference no: EM133119452

1. Calculate the monthly payment on a $300,000 mortgage with an annual interest rate of 4 percent for 30 years.

  • OPTION A $12,000.00
  • OPTION B $1,391.25
  • OPTION C $1,432.25
  • OPTION D $10,524.98

2. What is the Present Value of an annuity due with the following terms: 10 years, 8% rate, $60,000 annual payments?

  • OPTION A $613.714
  • OPTION B $4,978,257
  • OPTION C $434,813
  • OPTION D $809,921

3. Calculate the total payments on a $200,000 mortgage. The mortgage is for 15 years and the interest rate is 5%.

  • OPTION A $193.256
  • OPTION B $386.512
  • OPTION C $284.686
  • OPTION D $569.371

 

Reference no: EM133119452

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