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Presentation/PPT
27/08/2022
5) You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at
the end of every future year until your account totals $250,000. You expect to earn 12%
annually on the account. How many years will it take to reach your goal?
6)What is the future value of a 7%, 5-year ordinary annuity that pays $300 each year? If this
were an annuity due, what would its future value be?
7)An investment will pay $100 at the end of each of the next 3 years, $200 at the end
of Year 4, $300 at the end of Year 5, and $500 at the end of Year 6. If other
investments of equal risk earn 8% annually, what is this investment’s present value?
Its future value?
20)Consider a $25,000 loan to be repaid in equal installments at the end of each of the next
5 years. The interest rate is 10%.
a. Set up an amortization schedule for the loan.
b. How large must each annual payment be if the loan is for $50,000? Assume that the
interest rate remains at 10% and that the loan is still paid off over 5 years.
c. How large must each payment be if the loan is for $50,000, the interest rate is 10%,
and the loan is paid off in equal installments at the end of each of the next 10 years?
This loan is for the same amount as the loan in part b, but the payments are spread
out over twice as many periods. Why are these payments not half as large as the
payments on the loan in part b?
32) Anne Lockwood, manager of Oaks Mall Jewelry, wants to sell on credit, giving customers
3 months to pay. However, Anne will have to borrow from her bank to carry the accounts
receivable. The bank will charge a nominal rate of 15% and will compound monthly.
Anne wants to quote a nominal rate to her customers (all of whom are expected to pay on
time) that will exactly offset her financing costs. What nominal annual rate should she
quote to her credit customers?
33)Assume that your father is now 50 years old, plans to retire in 10 years, and expects to live for
25 years after he retires—that is, until age 85. He wants his first retirement payment to have
the same purchasing power at the time he retires as $40,000 has today. He wants all of his
subsequent retirement payments to be equal to his first retirement payment. (Do not let the
retirement payments grow with inflation: Your father realizes that if inflation occurs the real
value of his retirement income will decline year by year after he retires.) His retirement
income will begin the day he retires, 10 years from today, and he will then receive 24
additional annual payments. Inflation is expected to be 5% per year from today forward. He
currently has $100,000 saved and expects to earn a return on his savings of 8% per year with
annual compounding. To the nearest dollar, how much must he save during each of the next
10 years (with equal deposits being made at the end of each year, beginning a year from
today) to meet his retirement goal? (Note: Neither the amount he saves nor the amount he
withdraws upon retirement is a growing annuity.)
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