0.9 Mathematics of finance: homework  (Page 5/7)

What monthly deposits made to an account paying 9% will grow to $10,000 in 4 years?

An amount of $4000 is invested at 6% compounded daily. What will the final amount be in 5 years?

David has won a lottery paying him $10,000 per month for the next 20 years. He'd rather have the whole amount in one lump sum now. If the current interest rate is 7%, how much money can he hope to get?

Each month Linda deposits $250 in an account that pays 9%. How much money will she have in 4 years?

Find the monthly payment for a $15,000 car if the loan is amortized over 4 years at a rate of 10%.

What lump-sum deposited in an account paying 7% compounded daily will grow to $10,000 in 5 years?

What amount of quarterly payments will amount to $250,000 in 5 years at a rate of 8%?

The Chang family bought their house 25 years ago. They had their loan financed for 30 years at an interest rate of 11% resulting in a payment of $1350 a month. Find the balance of the loan.

A 10-year $1000 bond pays $35 every six months. If the current interest rate is 8%, in order to find the fair market value of the bond, we need to find the following.

1. The present value of $1000.

A 10-year $1000 bond pays $35 every six months. If the current interest rate is 8%, in order to find the fair market value of the bond, we need to find the following.

b. The present value of the $35 per six month payments.

What lump-sum deposit made today is equal to 33 monthly deposits of $500 if the interest rate is 8%?

What should be the size of the monthly deposits made to an account paying 10% so that their accumulated value will be $10,000 in six years?

A department store charges a finance charge of 1.5% per month on the outstanding balance. If Ned charged $400 three months ago and has not paid his bill, how much does he owe?

What will the value of $300 monthly deposits be in 10 years if the account pays 12% compounded monthly?

What lump-sum deposited at 6% compounded daily will grow to $2000 in three years?

A company buys an apartment complex for $5,000,000 and amortizes the loan over 10 years. What is the yearly payment if the interest rate is 14%?

In 1970, a house in Reno cost $23,000. If the inflation rate is 8%, what is the price of that house in 1997?

You determine that you can afford to pay $400 per month for a car. What is the maximum price you can pay for a car if the interest rate is 11% and you want to repay the loan in 4 years?

A business needs $350,000 in 5 years. How much lump-sum should be put aside in an account that pays 9% so that five years from now the company will have $350,000?

A person wishes to have $500,000 in a pension fund 20 years from now. How much should he deposit each month in an account paying 9% compounded monthly?

Manuel borrows $800 for 6 months at 18% simple interest. How much does he owe at the end of 6 months?

The population of California is 32 million and expects to grow at a rate of 2.3% per year for the next 10 years. What will the population of California be in 10 years?