ADM 2350 : adm2750 Finding FV pv r and t.doc
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14 Jul 2014
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Part One: Quantitative Exercises | |
Questions | Answers |
1. Future Value. What is the future value of | |
a. $800 invested for 14 years at 11 percent compoundedannually? | |
b. $210 invested for 8 years at 9 percent compounded annually? | |
c. $650 invested for 12 years at 8 percent compoundedannually? | |
2. Present Value. What is the present value of | |
a. $803 to be received 18 years from now at a 10 percent discountrate? | |
b. $406 to be received 7 years from now at a 5 percent discountrate? | |
c. $400 to be received 10 years from now at a 9 percent discountrate? | |
3. Future Value of an Annuity. What is the future value of | |
a. $557 a year for 12 years at 5 percent compounded annually? | |
b. $748 a year for 9 years at 12 percent compounded annually? | |
c. $442 a year for 7 years at 11 percent compounded annually? | |
4. Present Value of an Annuity. What is the present valueof | |
a. $1,163 a year for 12 years at an 7 percent discount rate? | |
b. $329 a year for 6years at a 12 percent discount rate? | |
c. $365 a year for 20 years at a 14 percent discount rate? | |
5. How many years will it take to grow | |
a. $765 to a value of 2,028.19 at a compound rate of 14percent? | |
b. $321 to a value of 450.22 at a compound rate of 12 percent? | |
c. $881 to a value of 1,305.78 at a compound rate of 7percent? | |
6. Interest Rate. At what interest rate will it take togrow | |
a. $800to a value of 1,017.13 over 6 years? | |
b. $600 to a value of 1,082.08 over 5 years? | |
c. $401 to a value of 1,311.16 over 6 years? | |
7. Car Loans (Hint: P/Y=12). How much is a car loan with apayment of | |
a.$453 per month for 3 years at 6% interest per year? | |
b.$466 per month for 5 years at 15% interest per year? | |
c.$301 per month for 6 years at 7% interest per year? | |
8. Mortgages (Hint: P/Y=12). | |
What was the initial mortgage on thehouse? | |
a.$4,369.66 per month for 30 years at 8 percent interest? | |
b.$1,626.83 per month for 15 years at 4 percent interest? | |
c. $3,724.21 per month for 30 years at 18 percent interest? | |
9. Mortgages (Hint: P/Y=12). What is the payoff on a 30year, 6% mortgage of | |
a.$255,413 with a payment of 1,321.33 with 8 years remaining? | |
b.$530,493 with a payment of 3,180.57 with 12 years remaining? | |
c. $297,266 with a payment of 1,782.26 with 11 yearsremaining? | |