Quiz 2-Fall 2019-solutions.pdf - Question Score Question 1 11 Question 2 8 Question 3 9 TOTAL 28 Question 1[11 marks total Deposits of \$100 per month

# Quiz 2-Fall 2019-solutions.pdf - Question Score Question 1...

• 4

This preview shows page 1 - 4 out of 4 pages.

Question Score Question 1 11 Question 2 8 Question 3 9 TOTAL 28
Question 1. [11 marks total] Deposits of \$100 per month for 3 years and then \$200 per month for 2 years are made into an investment account. Deposits are made at the end of the month. An interest rate of i (12) =6%/a is gotten on all deposits. a) Determine the accumulated value at the time of the final \$200 deposit. [7 marks] b) If I wanted to make equal payments every quarter over the 5 years (rather than the pattern in the question), how much would I have to contribute starting in three months from today? [4 marks]
Question 2. [8 marks total] I borrowed \$10,000 today. I pay \$1,000 per period on the loan. If I pay i (2) =12%/a interest on the loan:

#### You've reached the end of your free preview.

Want to read all 4 pages?

• Summer '14
• Staff

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern