Description of this paper

Youmakepaymentsintoafundforacertainperiodoftime,

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solution


Question

1. Youmakepaymentsintoafundforacertainperiodoftime,thendiscontinue;thepaymentsforacertainperiodoftimeandthenbeginmakingthe;paymentsagainforacertainperiodoftime.Howmuchisinthefundafter;thelastpayment?;2. Whatisthemonthlypaymentonacarthatcostsacertainamount,youmake;adownpaymentandfinancetheremainderforacertainperiodoftime?;3. Youbuyfurnitureandthedealerdefersyourfirstpaymentforacertain;periodoftime.Howmuchisyourpaymentifyoumakepaymentsfora;certainperiodoftime.;4. Youmakemonthlypaymentsofacertainamountforacertainperiodoftime;andthepaymentsareatthebeginningofeachmonth.Howmuchisinthe;fundafteracertainperiodoftime.(Youmustusetheannuitydueformulain;chapterfiveandnottheformulasinChapterfourandthree.);5. Youfinanceacertainamountatacertainrateforacertainperiodoftime.;Youpaylesseachmonththantherequiredamortizedpayment.Aftera;certainperiodoftime,whatisyournewpaymentforacertainremaining;periodoftimetopaytheoriginalamountborrowed?;6. Constructanamortizationtablefortwomonthsofamortgagegiventhedate;themoneywasborrowed,thelengthofthemortgageandtherate.;7. Howmuchinterestwaspaidonamortgageinacertainyearofthemortgage;giventheamountborrowed,therate,andthelengthofthemortgage?;8. Whatisthetotalpaymentonabondeverysixmonthsthatbearsacertain;couponraterequiresasinkingfundearningatacertainrate?(Remember;thatbondsareboughtandsoldindenominationsof$1000.);9. Youfinanceacertainamountatacertainrateandmakearbitrarypayments;ofacertaingivenamount.Howmanypaymentswillyoumakeandwhatis;theamountofthelastpayment?(Youwillsolveforadiscountfactorand;thenuseyourfingertogodownacolumnintheappropriatetablethatwillbe;giventoyouonthebackofthetesttodeterminethenumberofeven;paymentsandthensolveforthelastpayment);10. YoupurchasefurnitureatadealerofacertainamountbeingchargedADD;ONinterest.DeterminethepaymentandthendeterminetheAPRbyusing;tablesonthebackofthetestandrunningyourfingeracrossthetablesfor;thenumberofpaymentstodeterminetherate.;11. Yougotoworkatacertainannualsalary,Youwillmakemonthlypayments;ofacertainpercentageofyourmonthlysalarytoaretirementfundearninga;certainamount.Youwillreceivearaiseeachyearofacertainpercentageof;yoursalary.Howmuchisinthefundafterthreeyears?

 

Paper#23760 | Written in 18-Jul-2015

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