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Finance Questions

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Question;1. Use a calculator to evaluate an ordinary annuity formula for m, r, and t (respectively). Assume monthly payments. (Round your answer to the nearest cent.)$150, 7%, 35 yrA=m{(1+r/n)^nt-1/r/n}2. Use a calculator to evaluate the amortization formula for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.)$150,000, 8%, 30 yr3. Find the monthly payment for the loan. (Round your answer to the nearest cent.)$500 loan for 12 months at 15%4. Find the monthly payment for the loan. (Round your answer to the nearest cent.)A $122,000 home bought with a 20% down payment and the balance financed for 30 years at 8.5%5. Find the monthly payment for the loan. (Round your answer to the nearest cent.)Finance $950,000 for a warehouse with a 9.50% 30-year loan.6. Classify the financial problem. Assume a 6% interest rate compounded annually.Find the value of a $1,000 certificate in 5 years.7. If an apartment complex will need painting in 3 and 1/4 years and the job will cost $35,000, what amount needs to be deposited into an account now in order to have the necessary funds? The account pays 7% interest compounded semiannually.

 

Paper#49002 | Written in 18-Jul-2015

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