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320hm4_key_F10 - MATH 320 HOMEWORK 4 Due Wednesday...

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Unformatted text preview: MATH 320 HOMEWORK 4 - Due Wednesday, September 22 1. Chris lends Dennis X at a rate of 12% per annum effective> at time t = 0. Dennis is to repay in three installments: 22.40 at t r: 1, 28.10 at t = 37 and 15.74 at t = 4. (a) What is X? (b) The repayments are to be replaced by a single payment of 22.40 + 28.10 + 15.74 2 66.24. What time should this payment be at, (i) using the equation of value, (ii) using the method of equated time. 2. Suppose am 2 5.5348 and @551 = 8.3126. Find 7L and n. 3. You are given an annuity-immediate with 11 annual payments of 100 and a final balloon payment of X at the end of 12 years. At an annual effective interest rate of 3.5% the present value at time 0 of all the payments is 1000. (a) Find X. (b) Using an annual effective rate of 1%, calculate the present value at the beginning of the ninth year of all the remaining payments. 4. A large state borrows $300 million in a bond issue to pay for redwood forests. It will pay the money back in 20 equal installments at an annual interest rate of 7.5%. Find the total interest the state will pay. 5. If am 2 1.7, find i. 22. ‘{ ( Z X: 1): J» M: 0) 23,10 [97/ 3 ‘1 5“ " . 222W +231 3+ M791)?” Q’j [Kr—w fi ‘ /.7i ’, 272w"? 6611/sz 50 f 44 (.7595) f: 51/}(‘5723577 : @ 22.9%} + 28,106+ WWW? 602? 20f); 2 (5'; £392?“ g, 3/25) a“ . (55‘3“?ng , f . :1 ,082’7‘? 39107 {7%} NEQé£ / jwi/L «Mi 71,411 m 745%»? #yg/m $2” (a; 7% jam, (2}??? 9,5??ng J jum‘jz.‘ ”$3 \ W , {MU/a4: , V K Cm m“. “ml?“ (5": £44,) i000 («3 3'5 CZ. 3 1000—» (00 [7.0 Z [@9034 lOOQ‘m‘f‘ X32”; X; 0) 66/33 3:90 3m} 2w gmm A; Jum¢hw~ /a’ 3%“ w M 72: ”f3 7 0/ PM; r: [590 flgym/ + 50.86? , z (00 {mg/4,) + (mam) 7,, 76/) r / 737 X 20 j a; 7 5% / Z . [r 6722) 3 A74: 2 (”17—4 M92 ' 3/]; i T 2M3}: L7; 0'sz i (Z-HL/Jflhffl) .1 0 m; V “2,. a . 1/1/71“, +Za‘m’, 33* 0 4;: 4/537»? 2,42% , 7i ...
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