Calculate the indicated monetary value. Round your answers to the nearest cent. a. Given P = $0, r = 0.099, m = 4, t = 12, PMT = $7.70, compute A = $ b. Given A = $0, r = 0.061, m = 12, t = 28, PMT = $290, compute P = $ c. Given A = $0, P = $35,000, r = 0.059, т — 365, t 3 11, сompute PMT $ %3D
Calculate the indicated monetary value. Round your answers to the nearest cent. a. Given P = $0, r = 0.099, m = 4, t = 12, PMT = $7.70, compute A = $ b. Given A = $0, r = 0.061, m = 12, t = 28, PMT = $290, compute P = $ c. Given A = $0, P = $35,000, r = 0.059, т — 365, t 3 11, сompute PMT $ %3D
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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please answer asap. my other questions have taken 5 days i need them all quick. thank you
Transcribed Image Text:# Calculation Exercise: Monetary Value Computation
## Instructions
Calculate the indicated monetary value. Round your answers to the nearest cent.
### Problems
#### a.
Given the following values:
- Principal \( P = \$0 \)
- Annual interest rate \( r = 0.099 \)
- Compounding frequency \( m = 4 \) (quarterly)
- Time period \( t = 12 \) (in years)
- Payment \( PMT = \$7.70 \)
Compute the final amount \( A = \$ \_\_ \).
#### b.
Given the following values:
- Final amount \( A = \$0 \)
- Annual interest rate \( r = 0.061 \)
- Compounding frequency \( m = 12 \) (monthly)
- Time period \( t = 28 \) (in years)
- Payment \( PMT = \$290 \)
Compute the principal amount \( P = \$ \_\_ \).
#### c.
Given the following values:
- Final amount \( A = \$0 \)
- Principal \( P = \$35,000 \)
- Annual interest rate \( r = 0.059 \)
- Compounding frequency \( m = 365 \) (daily)
- Time period \( t = 11 \) (in years)
Compute the payment \( PMT = \$ \_\_ \).
### Notes
- Ensure you use the formulas for compound interest or annuities as needed.
- Pay attention to the compounding frequency to adjust calculations accordingly.
- Verify your answers by rounding them to the nearest cent.
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