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Finance Question
Calculating Present Value of Annuities
Peter Wants to sell you an investment contract that pays equal 10000 amounts at the end of each of the next 20 years. If you require a return of .7% per month on this investment, how much will you pay for the contract today? |
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Finance Question
Calculating Annuity Present Value
You want to borrow 45000 from your local bank to buy a new sailboat. You can afford to make monthly payments of 950, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60 month APR laon? |
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Finance Question
Calculating the Number of Payments
You're prepared to make montly payments of 125, benginning at the end of the month, into an account that pays 10% interest compounding montly. How many payments will you have mase when your account balance reaches 20000? |
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