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

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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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## This document was uploaded on 10/31/2011 for the course FIN 3403 at University of Florida.

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

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