Assignment 6(1) - Maple T.A Gradebook...

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System Homepage » Class Homepage » Student Details » Student Assignment Details ActSci 231 W09 : Gradebook Welcome Po-Wei Chuang [ My Profile ] Assignment detail for Po-Wei Chuang in Assignment 6: Po-Wei Chuang Login: pchuang Email: [email protected] Student ID: 20260696 Assignments completed: 9 Assignments active: 0 Question Grade 1 Find the present value of a 14-year annuity with annual payments which pays $500 immediately and each subsequent payment is 5% greater than the preceding payment. The annual effective rate of interest is 8%. Answer to the nearest dollar. Your Answer: 5866 Correct Answer: 5866.39 Comment: 14 payment annuity-due with j=(1+0.08)/(1+0.05)-1=0.028571 Instructors Comment: 1.0 2 An annuity-immediate pays 40 per year for 10 years, then decreases by 1 per year for 39 years. At an annual effective interest rate of 4%, the present value is equal to X. Calculate X to the two decimal places. Your Answer: 652.35 Correct Answer: 652.35 Comment: Annuity part = 40 * (1 - v 9 ) / i Decreasing Annuity = (40 - ( 1 - v 40 ) / i ) / i * v 9 Instructors Comment: 1.0 3 Teresa took out a loan of $10,500, to be paid back by the sinking fund method.
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