#1
Savings:
Summer
$35
Winter
$60
Interest Rate
7%
# of years
6
Investment at t=0
$1.00
PV of Returns in months 1,2,3,4
$137.98 =PV(B5/12,4,B3)
PV of Returns in months 7,8,9
$171.82 =PV(B5/12,6,,PV(B5/12,3,B4))
PV of additional five years of saving
$1,270.24 =PV(B5,5,B10+B11)
Total Savings = Investment
$1,580.04 =B12+B11+B10
#2
Months
24
Days/Month
30
Days/Year
360
Interest Rate
7.25%
0.6059% =(1+B20/B19)^B181
Principal
$7,250
Monthly Payment
$325.49 =PMT(B21,B17,B22)
Interest
$561.84 =B23*B17B22
#3
Loan Amount
$120,000
Interest Rate
5.85%
Points
4
Months
360
Payment
($707.93)
=PMT(B29/12,B31,B28)
Principal
$115,200.00 =B28*(1B30/100)
Rate
6.232% =12*RATE(B31,B32,B33)
Effective Rate
6.413% =(1+B34/12)^121
#4
Loan Amount
$21,000
Interest Rate
9%
# of payments
36
Interest Accumulated in 6 months
$962.90 =FV(B40/12,6,,B39)B39
($698.41)
=PMT(B40/12,B41,B39+B42)
Month
Balance
Interest
i
e/month
Payment (
Part A
)
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$21,000
$157.50
1
$20,459.09
$153.44
2
$19,914.11
$149.36
3
$19,365.06
$145.24
4
$18,811.88
$141.09
5
$18,254.55
$136.91
6
$17,693.05
$132.70
7
$17,127.33
$128.45
8
$16,557.37
$124.18
9
$15,983.14
$119.87
10
$15,404.60
$115.53
11
$14,821.72
$111.16
12
$14,234.47
$106.76
13
$13,642.81
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 Fall '09
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 monthly payment, Rate Effective Rate, Rate Semiannual Rate

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