Unformatted text preview: = 1 . 0001923 365 365 Page 35 In your lecture notes it appears that you have two pages numbered 35. Ignore the FIRST page 35  it was included by mistake . It is from an earlier edition of my coursepack. The solutions to the problems on page 34 are on page 36. Page 35 ( The second page 35)  solution to #8 should read: It’s an annuity due. Total number of deposits from age 30 to 55 inclusive are: 26. Bank is charging: (1+ . 06 / 12) 1 = 1 . 005 1 = 6 . 17%. FVIFA = (1 . 0617 1)/.0617 = 60 . 663 12 12 26 You will have saved $5000 x 60.663 x 1 . 0617 =$322,032.01 Page 35 (The second page 35) solution to #9 should read: Bank is charging: 1 . 013751 = 5 . 61%. You are pay 1 . 013751= . 004562 per month. 4 4/12 PV = $400 x [1  (1/1.004562 )] /. 004562 = $400 x 33 . 1297 = $13,252 36...
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This note was uploaded on 05/17/2011 for the course COMM 308 taught by Professor Ravimateti during the Spring '10 term at Concordia Canada.
 Spring '10
 RaviMateti

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