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- Use interest tables. Suppose that $1,000 is invested for 4 years at an interest rate of 12%, compounded quarterly. How much will be in the account at the end of 4 years? Choose an answer by clicking on one of the letters below, or click on "Review topic" if needed. A F = $1,000 (F/P,12%,4) = $1,000 (1.574) = $1,574 B F = $1,000 (F/P,12%,16) = $1,000 (6.130) = $6,130 C F = $1,000 (F/P,3%,4) = $1,000 (1.126) = $1,126 D F = $1,000 (F/P,3%,16) = $1,000 (1.605) = $1,605John-The-Smart-Investor plans to make uniform deposits every three months into a high yield savings account so that at the end of 8 years, a sum of $8,000 will be saved in the account. If the 8% effective annual interest is compounded quarterly, how much should John deposit at the end of each quarter? Draw the Cash Flow Diagram (CFD) explicitly.19. How much money should be invested monthly at 6% per year, compounded monthly, in order to have $10,000 in two years?
- QUESTION 2 a) Assume that you borrow $30,000 to purchase a new automobile and that you finance it for a four-year loan at the interest rate of 4% per year. If you make one payment per year for four years, what will the yearly payment be? What is the total amount that will be paid out on the loan?# 5- According to the cash flow diagram below, for the case where the cost of capital is 25%; Calculate the present (P), the end of the 5th year (F) and the annual equivalent (A) value of moneyYou deposit $10,000 in a fund that pays compound annual interest equal to 3%. One year later the interest rate changes to 4%, 2 years later the interest rate changes to 5%, and 3 years later the interest rate changes to 6%. How much will you have in the fund after 4 years if you withdrew $2,500 at the end of each of the previous 3 years?
- UPVOTE WILL BE GIVEN. PLEASE WRITE THE COMPLETE SOLUTIONS AND DRAW THE CASH FLOW DIAGRAM. NO LONG EXPLANATION NEEDED. Find the uniform annual amount that is equivalent to a uniform gradient series in which the first year’s payment is $25,000, the second year’s payment is $30,000, the third year’s payment is $35,000, and so on, and there are a total of 20 payments. The annual interest rate is 8%.Draw cash flow diagram and show your solution A person needs $20,000 immediately as a down payment on a new home. Suppose that she can borrow this money from her company credit union. She will be required to repay the loan in equal payments made every six months over the next 10 years. The annual interest rate being charged is 10% compounded bimonthly. What is the amount of each payment?a. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded quarterly? b. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded monthly? c. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded daily? d. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded continuously? e. At what compounding period does the effective annual interest rate very closely approximate continuous compounding? (Consider to the nearest 0.0001)
- How much do you have to deposit now with a second deposit in the amount of $700 at the end of the first year so that you will be able to withdraw $350 at the end of the second year through the fourth year, and $600 at the end of the fifth and sixth year, if the bank pays you 3% annual interest on your balance ? Draw cash flow diagram tooFind the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) PMT= $ $30,000 in a fund paying 7% per year, with monthly payments for 5 years X1 You deposit $17,000 in a retirement account on your 25th birthday, and you plan to retire on your 65th birthday. (a) If you expect to have a quarter million dollars in the retirement account when you retire, what nominal annual interest rate r, compounding annually, will make this happen? (b) If you expect to have $250,000 in the retirement account when you retire at 65, what nominal annual interest rate r, compounding quarterly, will make this happen?