A rental agreement requires the payment of $900 at the beginning of each month.

7. A rental agreement requires the payment of $900 at the beginning of each month. What single payment at the beginning of the rental year should the landlord accept instead of twelve monthly payments if money is worth 6% compounded monthly? Interim calculations should be to 3 decimal places; final answer to the nearest cent.

8. Roger Baker has accumulated $600, 000 in his RRSP and is going to purchase a 25-year annuity from which he will receive month-end payments. The money used to purchase the annuity will earn 4.8% compounded monthly. If payments grow by 2.4% compounded monthly, what will be the initial payment? Interim calculations should be to six decimal places; final answer to the nearest cent.

9. What amount is required to fund a perpetuity that pays $10,000 at the beginning of each quarter? The funds can be invested to earn 5% compounded quarterly. Interim calculations should be to 4 decimal places; final answer to nearest cent. 

10. The first quarterly payment of $750 in a five-year annuity will be paid in 33/4 years from now. Based on a discount rate of 8.25% compounded monthly, what is the present value of the payments today? Interim calculations should be to six decimals; final answer to the nearest cent.

11. Semiannual payments are required on an $80,000 loan at 8.0% compounded annually. The loan has an amortization period of 15 years. Calculate the interest component of Payment 5. Interim calculations should be to six decimal places; final answer to the nearest cent. Note the convention for rounding mortgage payments.

12. If a furniture retailer offers a financing plan on a $1500 purchase requiring four equal quarterly payments of $400 including the first payment on the purchase date, what effective rate of interest is being charged on the unpaid balance? Interim calculations should be to 4 decimal places; final answer to .01%

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more