Help with financial management | Business & Finance homework help
- Assume that you true current an wonted annuity aftercited a while 6 annual reimbursements of $4,000 each. You artifice to endue the reimbursements at a 5% profit admonish. What get the prize of the reimbursements be at the end of the 6th year?
- Suppose it is January 1st and you deposited $3,000 in a savings representation that pays 9 percent aftercited a while daily compounding and a 360-day year. How greatly could you aftercited a whiledraw aftercited nine months, ostentatious this is nine-twelfths of a year?
Assume a bank beak a 15.5% APR (annual percentage admonish) on security card holder compounds quarterly. What EAR (cogent annual admonish) is the bank is charging? What if they substitute compounding to bi-monthly? Compare the consequence from the bank perspective and the security card holder perspective (your watchfulness should be set to 4 decimal places).
- Determine the annual reimbursement, and
- Prepare an amortization schedule installed on the aftercited instruction. Utilize the sample supposing in the passage as well-behaved-behaved to see the end consequence:
- Loan sum = $25,000
- Annual Profit admonish = 6% compounded annually.
- The mortgage matures or the mortgage account = 5 years
- You must embrace all the six categories (year, commencement redress, reimbursement, profit, first, and redress)