uestion 11 You need to accumulate £ 10,000.
To do so, you plan to make deposits of £ 1,250 per year, with the first payment
being made a year from today, in a bank account which pays 12 percent annual
interest compounded annually. Your last deposit will be less than £ 1,250 if
less is needed to round out to £ 10,000. How many years will it take you to
reach your £ 10,000 goal, and how large will the last deposit be?uestion 12 Your Company is planning to borrow £ 1,000,000 on a
5-year, 15 percent, annual payments, fully amortized term loan. What fraction
of the payment made at the end of the second year will represent repayment of
principal?uestion 13 You are branch manager of town centre
Natwest Bank, Manchester. A borrower approaches you for a term loan of £
500,000. You agreed to give loan to be fully
amortized in a period of 5 year at 10 percent, annual payment. What will
be the size of each installment? What fraction of the payment made at the end
of second year represents repayment of interest?.0cm;text-indent:-106.3pt;tab-stops:0cm”>.0cm;text-indent:-106.3pt;tab-stops:0cm”>.uestion 14.73333740234375px;”>.73333740234375px;”>.73333740234375px;”>.0cm;text-indent:-106.3pt;tab-stops:0cm”>It
is now January 1, 2007.
You plan to make 5 deposits of £ 100 each, on every 6 months, with the first
payment being made today. If the bank pays a nominal interest rate of 12
percent, but uses semiannual compounding, how much will be in your account
after 10 years?
b. Ten
years from today you must make a payment of £ 1,432.02. To prepare for this
payment, you will make 5 equal deposits, beginning today and for the next 4
quarters, in a bank that pays a nominal interest rate of 12 percent, quarterly
compounding. How large must each of the 5 paymentsQuestion 15 The prize in last week’s Lottery
was estimated to be worth £ 35 million. If you were lucky enough to win, then
it will pay you £ 1.75 million per year over the next 20 years. Assume that the
first installmeAshley
has £ 42,180.53 in brokerage account, and plans to contribute an additional £
5,000 every year at an annual interest rate of 12 percent. If Ashley has to
accumulate £ 250,000, how many years will it take for him to reach his goal?nt is received immediately.a. If interest rates are 8 percent, what is the present value
of the prize?b. If interest rates are 8 percent, what is the future value
after 20 years?
c. How would your answers change if the payments were received
at the end of each year?ques 16Ashley
has £ 42,180.53 in brokerage account, and plans to contribute an additional £
5,000 every year at an annual interest rate of 12 percent. If Ashley has to
accumulate £ 250,000, how many years will it take for him to reach his goal?.5pt;margin-right:0cm;margin-bottom:0cm;
margin-left:1.0cm;margin-bottom:.0001pt;tab-stops:1.0cm 2.0cm”>.0cm;text-indent:-106.3pt;tab-stops:0cm”>.0cm;text-indent:-106.3pt;tab-stops:0cm”>
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