You owe your parents $15,000 (in present day dollars) and want to repay them in equal amounts the first to occur in 3 years from today and the other in 8 years from today. If the interest rate is 7.1% per annum compounding monthly, what will be the amount of each repayment? You invest $5,000 and earn $835 over 20 months. What nominal rate of annual interest (compounding monthly) did you earn? (expressed as a percentage to two decimal places; dont use the % sign)? A savings plan requires 48 deposits of $589 per month commencing today. If the interest rate is 8.0% p.a
View complete question You owe your parents $15,000 (in present day dollars) and want to repay them in equal amounts the first to occur in 3 years from today and the other in 8 years from today. If the interest rate is 7.1% per annum compounding monthly, what will be the amount of each repayment? You invest $5,000 and earn $835 over 20 months. What nominal rate of annual interest (compounding monthly) did you earn? (expressed as a percentage to two decimal places; dont use the % sign)? A savings plan requires 48 deposits of $589 per month commencing today. If the interest rate is 8.0% p.a compounding monthly, the value of the investment plan in exactly 4 years from today will be? A real estate developer offers to sell you some prime real estate for $434,000 today. You agree to pay $298,000 in exactly 7 months but the balance in exactly 21 months from today when you expect to receive some cash from an investment. How much will you need to pay the developer in 21 months if the interest rate is 12.6% per annum compounding monthly (rounded to the nearest dollar; dont show $ sign or commas)? Which of the following is CORRECT? When discounting an amount to be received in one years’ time at a rate that is quoted as 12% compounding quarterly, we can: Select one: A.Discount the amount using an effective monthly rate of 1% where the number of periods is 12. B.Discount the amount using an effective annual rate (EAR) of (1+0.01)^12-1 =12.6825% where number of periods is 1. C.Discount the amount using the annual rate of 12% where number of periods is 1. D.Discount the amount using the effective quarterly rate of 3% where the number of discount periods is 4. $1,000 is invested at 5%p.a compounding semi-annually for the first 3 years and at 11% p.a compounding quarterly for the following 5 years. What is the future value at the end of 8 years? (round to nearest dollar; don't include $ sign or commas)? A prize pays $15,000 each quarter for 4 years (16 payments)commencing in exactly 6 months time. If the appropriate discount rate is 13.4% p.a compounding quarterly, the value of the prize today is? Jack borrows $500,000 for 10 years at a fixed interest rate of i % p.a (EAR). If the debt is repaid in equal year-end payments over the 10 years, the amount of interest Jack pays in the first 5 years (years 1 to 5): Select one: – a. Is less than the interest paid in the last 5 years – b. Is greater than the interest paid in the last 5 years -c. Is equal to the interest paid in the last 5 years If money is invested for 8 years at a simple interest rate of 7.3% per annum, the nominal interest rate per annum, compounding monthly, is (as apercentage rounded to three decimalplaces; no % sign):?

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