Finance Ch. 3 evens

634 d 20 fv8589 14 a fv30001086 108 1900779 b

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FV=3000(1.08)^15-1/.2 = $81,456.34 d) 20 FV=3000(1.08)^20-1/.2 = $137,285.89 14) a) FV=3000(1.08)^6-1/.08 = $19,007.79
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b) FV=3000(1.1)^6-1/.1 = $46,936.85 c) FV=3000(1.15)^6-1/.2 = $87,972.85 d) FV=3000(1.2)^6-1/.2= $148,268.76 16) a).03 50,000=PMT(1.03)^10-1/.03 = -$4,361.53 b) .05 50,000=PMT(1.05)^10-1/.05 = -$3,975.23 c) .07 50,000=PMT(1.07)^10-1/.07 = -$3,618.88 d) .09 50,000=PMT(1.09)^10-1/.09 = -$3,291.00 18) a) i=3 / 50,000=PMT(1.03)^11-1/.03 = -$4,234.49 b) i=5 / 50,000=PMT(1.05)^11-1/.05 = -$3,785.93 c) i=9 50,000=PMT(1.09)^11-1/.09 = $3,019.27 20) a) 2 years / PV=1500(1-(1.12)^-2/.12) = $2,535.08 b) 5 years / PV=1500(1-(1.12)^-5/.12) = $5,407.16 c) 7 years / PV=1500(1-(1.12)^-7/.12) = $6,845.63 d) 10 years / PV=1500(1-(1.12)^-10/.12) = $8,475.33 22) a) PV=1,500(1-(1.12)^-3/.12) = $8,475.33 b) PV=1,500(1-(1.12)^-6/.12) = $6,167.11 c) PV=1,500(1-(1.12)^-8/.12) = $3,548.54 d) PV=1,500(1-(1.12)^-10/1.12) = $908.07 24) a) 10,000(1-(1.06)^-x/.06) = 2,000,000 1.06^-x = -6.999 b) 20,000(1-(1.06)^-x/.06) = 2,000,000 (1.06)^-x = -6
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634 d 20 FV8589 14 a FV30001086 108 1900779 b

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