Dandil owns two debt payments - a payment of $5049 that was due today and a payment of 1906 due in 13 months. If a payment is made now of 1000 and another payment in 6 months, what would this payment be if money is worth 5.88% P.A simple interest? Assume a focal date of 6 months

Dandil owns two debt payments - a payment of $5049 that was due today and a payment of 1906 due in 13 months. If a payment is made now of 1000 and another payment in 6 months, what would this payment be if money is worth 5.88% P.A simple interest? Assume a focal date of 6 months

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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John received a loan of $40,500, 6 years ago. The interest rate charged on the loan was 4.68% compounded quarterly for the first 6 months, 5.46% compounded semi-annually for the next 2 years, and 5.88% compounded monthly thereafter. a. Calculate the accumulated value of the loan at the end of the first 6 months. Round to the nearest cent b. Calculate the accumulated value of the loan at the end of the next 2 year period. Round to the nearest cent c. Calculate the accumulated value of the loan today. Round to the nearest cent d. Calculate the amount of interest charged on this loan over the past 6 years. jamie wants to double his money in 9 years in an investment fund. What quarterly compounding interest rate do you suggest that he looks for?
Luis Rivera has taken out a mortgage loan for $225,000 at 4% for 5 years. What will be the total amount of interest paid? a. $27,706.34 b. $21,7567.33 c. $14,855.65 d. $18,566.47 e. $12,444.66
4. Find the amount of interest earned on $23,000 compounded quarterly at 7.42% for 40 years. 5. Find the effective interest rate to the nearest hundredth if the nominal interest rate is 10% compounded quarterly. 6. Kayla deposited $8000 in a CD (Certificate of Deposit) paying 5% compounded semiannually. What is the Maturity Value of the CD?
Jerome borrowed 5200 at 8 1/2% for six years compounded semi annually. What is the future value of the loan and how much interest will he pay on the loan
Suppose that a house was purchased with the buyer taking out a 20 year,$350,000 mortgage at 3% interest compounded monthly.(i) What will the monthly payments be?(ii) Find the total amount of interest paid when the loan is amortized over 20 years.
A woman borrowed P3,000 to be paid after 1.5 years with interest at 12% compounded seminually and P5,000 to be paid after 3 years at 12% compounded monthly. What single payment must she pay after 3.5 years at an interest rate of 16% compounded quarterly to settle the two obligation?
ou were paying your fully amortising loan at 8.2% per annum for 12 years. The current monthly payment is $1,492 per month. What is the remaining loan balance at the end of year 2? Please rounded your answer to two decimal points (e.g. 8000.158 is rounded to 8000.16)
Tom Bond borrowed $6,600 at 6-% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan? Compound amount = $ (Round to the nearest cent as needed.) Compound interest = $ (Round to the nearest cent as needed.)
Desidero Garcia got a simple interest amortized loan for $20,000 at 7 3/8 % for five and half years. Find the monthly payment and the total interest that will be paid.
Tom Bond borrowed $6,800 at 8-% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan? Compound amount = $ (Round to the nearest cent as needed.)
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