Reference no: EM131856376

Trying to study for an excel exam for financial modeling im not sure if i solved correctly please help me understand if im on a right path

1. If you deposit $16,000 per year for 12 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 14%, what will your account be worth at the end of 12 years?

2. You plan to borrow $389,000 now and repay it in 25 equal annual installments (payments will be made at the end of each year). If the annual interest rate is 14%, how much will your annual payments be?

3. You are told that if you invest $11,000 per year for 23 years (all paym ents made at the end of each year) you will have accumulated $366,000 at the end of the period. What annual rate of return is the investment offering?

4. You are offered an annuity that will pay $17,000 per year for 7 years (the first payment will be made today). If you feel that the appropriate discount rate is 11%, what is the annuity worth to you today?

5. If you deposit $15,000 per year for 9 years (each deposit is made at the beginning of each year) in an account that pays an annual interest rate of 8%, what will your account be worth at the end of 9 years?