Business Finance Answers_Part_28

Business Finance Answers_Part_28 - CHAPTER 6 B-109 47....

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CHAPTER 6 B-109 47. Enter 18 10% $4,000 N I/Y PV PMT FV Solve for $32,805.65 Enter 7 10% $32,805.65 N I/Y PV PMT FV Solve for $16,834.48 48. Enter 84 7% / 12 $1,500 N I/Y PV PMT FV Solve for $87,604.36 Enter 96 11% / 12 $1,500 N I/Y PV PMT FV Solve for $110,021.35 Enter 84 7% / 12 $110,021.35 N I/Y PV PMT FV Solve for $51,120.33 $87,604.36 + 51,120.33 = $138,724.68 49. Enter 15 × 12 8.5%/12 $1,200 N I/Y PV PMT FV Solve for $434,143.62 FV = $434,143.62 = PV e .08(15) ; PV = $434,143.62 e 1.20 = $130,761.55 50. PV@ t = 14: $3,500 / 0.062 = $56,451.61 Enter 7 6.2% $56,451.61 N I/Y PV PMT FV Solve for $37,051.41 51. Enter 12 $25,000 $2,416.67 N I/Y PV PMT FV Solve for 2.361% APR = 2.361% 12 = 28.33% Enter 28.33% 12 NOM EFF C/Y Solve for 32.31%
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B-110 SOLUTIONS 52. Monthly rate = .10 / 12 = .0083; semiannual rate = (1.0083) 6 – 1 = 5.11% Enter 10 5.11% $7,000 N I/Y PV PMT FV Solve for $53,776.72 Enter 6 5.11% $53,776.72 N I/Y PV PMT FV Solve for $39,888.33 Enter 10 5.11% $53,776.72
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Business Finance Answers_Part_28 - CHAPTER 6 B-109 47....

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