Homework Answers

ho drill 6-2 (510 minutes) (a)| Simple worry of $2,400 ($30,000 X 8%) per year X 8| $19,200| | Principal| 30,000| | entirety pull back| $49,200| | | | (b)| Interest compounded annually emerging quantify of1 @ 8% for 8 periods| 1.85093| | | X $30,000| | Total pull back| $55,527.90| (c)| Interest compounded semiannually futurity apprize of 1 @ 4% for 16 periods| 1.87298| | | X $30,000| | Total withdrawn| $56,189.40| commit 6-4 (1520 minutes) (a)| hereafter prise of an average annuity of $5,000 a period for 20 periods at 8%| $228,809.80| ($5,000 X 45.76196)| | agentive role (1 + .08)| X 1.08| | | Future value of an annuity repayable of $5,000 a period at 8%| $247,114.58| | (b)| feed value of an mine run annuity of $2,500 for 30 periods at 10%| $23,567.28| ($2,500 X 9.42691)| | workplace out (1 + .10)| X 1.10| | | Present value of annuity due of $2,500 for 30 periods at 10%| $25,924.00| (Or see Table 6-5 which gives $25,924.03)| (c)| Future value of an ordinary annuity of $2,000 a period for 15 periods at 10%| $63,544.96| ($2,000 X 31.

77248)| | Factor (1 + 10)| X 1.10| | | Future value of an annuity due of $2,000 a period for 15 periods at 10%| $69,899.46| | | | | | (d)| Present value of an ordinary annuity of $3,000 for 6 periods at 9%| $13,457.76| ($3,000 X 4.48592)| | Factor (1 + .09)| X 1.09| | | Present value of an annuity due of $3,000 for 6 periods at 9%| $14,668.96| (Or see Table 6-5)| EXERCISE 6-11 (1015 minutes) (a)Total sake = Total paymentsAmount owed tod ay $155,820 (10 X $15,582) $100,000 = $55,! 820. (b)Amos should borrow from the bank, since the 8% yard is lower than the...If you want to get a complete essay, hallow it on our website: OrderEssay.net

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