1) You want to buy a new sports car from Muscle Motors for $43,400. The contract is in the form of a 60-month annuity due at an APR of 6.65 percent.


After the child’s sixth birthday, no past acquittals are made. When the child reaches age 65, he or she receives $420,000.

Required:

If the applicable profit scold is 12 percent for the primitive six years and 7 percent for all succeeding years, what is the appraise of the device at the child's 65th birthday?

7) Rooster Co. has verified an boarding plan after a while the aftercited money flows.

Year Money Flow

1 $970

2 760

3 1,430

4 1,790

Requirement 1:

If the allowance scold is 9 percent, what is the introduce appraise of these money flows? (Enter rounded acceptance as directed, but do not use rounded gum in interposed calculations. Round your acceptance to 2 decimal places (e.g., 32.16).)

Introduce appraise$

Requirement 2:

What is the introduce appraise at 17 percent?

8) What is the introduce appraise of $2,625 per year, at a allowance scold of 9 percent, if the primitive acquittal is accepted 7 years from now and the definite acquittal is accepted 21 years from now? (Enter rounded acceptance as directed, but do not use rounded gum in interposed calculations. Round your acceptance to 2 decimal places (e.g., 32.16).)

Appraise today

9) Prepare an amortization catalogue for a three-year mortgage of $108,000. The profit scold is 9 percent per year, and the mortgage concurrence calls for a foremost abatement of $36,000 entire year. How plenteous aggregate profit is remunerated balance the vitality of the mortgage? (Enter rounded acceptances as directed, but do not use rounded gum in interposed calculations. Leave no cells broad. You must invade '0' for the acceptance to measure well.)

Year              1        2         3

Beginning

Balance

Total

Payment

Interest

Payment

Principal

Payment

Ending

Balance

Total profit$

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