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FIN2030 Quantitative Assignment, Week 2 1. Future Value. What is the future value of a. $773 invested for 14 years at 11 percent compounded annually?...

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FIN2030 Quantitative Assignment, Week 2 1. Future Value. What is the future value of a. $773 invested for 14 years at 11 percent compounded annually? 3331.97 b. $210 invested for 7 years at 6 percent compounded annually? 315.76 c. $650 invested for 10 years at 9 percent compounded annually? 1538.79 d. $615 invested for 7 years at 14 percent compounded annually? 1538.90 2. Present Value. What is the present value of a. $803 to be received 10 years from now at a 15 percent discount rate? 198.49 b. $406 to be received 6 years from now at a 5 percent discount rate? 302.96 c. $300 to be received 10 years from now at a 9 percent discount rate? 126.72 d. $632 to be received 14 years from now at a 14 percent discount rate? 100.94 3. Future Value of an Annuity. What is the future value of a. $557 a year for 14 years at 5 percent compounded annually? 10916.44 b. $748 a year for 8 years at 10 percent compounded annually? 8554.04 c. $442 a year for 8 years at 12 percent compounded annually? 5436.46 d. $976 a year for 12 years at 5 percent compounded annually? 15535.12 4. Present Value of an Annuity. What is the present value of a. $1,163 a year for 15 years at an 8 percent discount rate? 9954.67 b. $329 a year for 7 years at a 15 percent discount rate? 1368.78 c. $365 a year for 10 years at a 10 percent discount rate? 2242.77 d. $883 a year for 6 years at a 5 percent discount rate? 4481.84 5. How many years will it take to grow a. $711 to a value of 2,028.19 at a compound rate of 14 percent? b. $321 to a value of 450.22 at a compound rate of 7 percent? c. $931 to a value of 1,305.78 at a compound rate of 7 percent? d. $1,191 to a value of 4,189.79 at a compound rate of 15 percent? 6. Interest Rate. At what interest rate will it take to grow a. $759 to a value of 1,017.13 over 6 years? b. $614 to a value of 1,082.08 over 5 years? c. $701 to a value of 1,311.16 over 6 years? d. $1,190 to a value of 4,163.16 over 12 years? 7. Annuity. How many years will it take for a payment of a. $825 to grow to 17,642.03 at a compound rate of 10 percent? b. $356 from a future value of 13,271.58 at a compound rate of 12 percent? c. $1,098 from a future value of 6,189.53 at a compound rate of 6 percent? d. $733 from a future value of 14,365.80 at a compound rate of 5 percent?
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8. Annuity. At what interest rate will a payment of a. $346 grow to 12,898.78 over a period of 15 years? b. $1,056 grow to 10,834.35 over a period of 8 years? c. $696 grow to 22,113.65 over a period of 15 years? 9. Car Loans (Hint: P/Y=12). How much is a car loan with a payment of a. $257 per month for 3 years at 6% interest per year? b. $437 per month for 5 years at 15% interest per year? c. $274 per month for 6 years at 7% interest per year? d. $253 per month for 2 years at 7% interest per year? 10. Car Loans (Hint: P/Y=12). How many months will you pay on a car loan of a. $18,708 with a payment of 406.76 per month at 11% interest per year? b. $10,112 with a payment of 276.33 per month at 14% interest per year? c. $32,705 with a payment of 1,101.96 per month at 13% interest per year? d. $34,136 with a payment of 1,638.97 per month at 14% interest per year? 11. Car Loans (Hint: P/Y=12). What is the interest rate on a loan of a. $8,000 with a payment of 218.61 per month for 4 years? b. $16,000 with a payment of 368.47 per month for 4 years? c. $24,000 with a payment of 521.82 per month for 5 years? d. $32,000 with a payment of 664.27 per month for 5 years? 12. Mortgages (Hint: P/Y=12, House cost = Loan Value/0.9). What is the house cost on a 10 percent down mortgage with payments of a. $4,369.66 per month for 30 years at 10 percent interest? b. $1,626.83 per month for 15 years at 11 percent interest? c. $3,724.21 per month for 30 years at 8 percent interest? d. $4,469.19 per month for 15 years at 14 percent interest? 13. Mortgages (Hint: P/Y=12). What is the interest rate on a mortgage of a. $863,001 with a payment of 5,174.13 for 30 years? b. $125,709 with a payment of 1,275.02 for 15 years? c. $546,227 with a payment of 6,906.73 for 30 years? d. $478,167 with a payment of 3,781.31 for 15 years? 14. Mortgages (Hint: P/Y=12). What is the payoff on a 30 year, 6% mortgage of a. $255,413 with a payment of 1,531.33 with 7 years remaining? b. $530,493 with a payment of 3,180.57 with 9 years remaining? c. $297,266 with a payment of 1,782.26 with 13 years remaining? d. $108,947 with a payment of 653.19 with 13 years remaining?
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FIN2030 Quantitative Assignment, Week 2
1. Future Value. What is the future value of
a. $773 invested for 14 years at 11 percent compounded annually?
b. $210 invested for 7 years at 6 percent...

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