The following situations involve the application of the time value of money concept.
1. Janelle Carter deposited $9,750 in the bank on January 1, 1991, at an interest rate of 11% compounded annually. How much has accumulated in the account by January 1, 2008?
2. Mike Smith deposited $21,600 in the bank on January 1, 1998. On January 2, 2008, this deposit has accumulated to $42,487. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit?
3. Lee Spony made a deposit in the bank on January 1, 2001. The bank pays interest at a rate of 8% compounded annually. On January 1, 2008, the deposit has accumulated to $15,000. How much money did Lee originally deposit on January1, 2001?
4. Nancy Holmes deposited $5,800 in the bank on January 1 a few years ago.. The bank pays an interest of 10% compounded annually, and the deposit is now worth $15,026. How years has the deposit been invested?

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Time Value of Money:
Calculate - 1. Future Value; 2. Present Value; 3. ...

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The following situations involve the application of the time value of money concept.
1. Janelle Carter deposited $9,750 in the bank on January 1, 1991, at an interest rate of 11% compounded annually. How much has accumulated in the account by January 1, 2008?
2. Mike Smith deposited $21,600 in the bank on January 1, 1998. On January 2, 2008, this deposit has accumulated to $42,487. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit?
3. Lee Spony made a deposit in the bank on January 1, 2001. The bank pays interest at a rate of 8% compounded annually. On January 1, 2008, the deposit has accumulated to $15,000. How much money did Lee originally deposit on January1, 2001?
4. Nancy Holmes deposited $5,800 in the bank on January 1 a few years ago.. The bank pays an interest of 10% compounded annually, and the deposit is now worth $15,026. How years has the deposit been invested?

7. Sara Shouppe has invested $100,000 in an account at her local bank. The bank will pay her a constant amount each year for 6 years, starting one year from today, and the account's balance will be 0 at the end of the sixth year. If the bank has promised Ms. Shouppe a 10% return, how much will they have to pay him each year?

1. Calculate the difference between daily and annual compounding, given the following information: (a) PV: $52,000, (b) NPER: 30, and (c) RATE: 10%.
2. Calculate the PMT on a mortgage, given the following information: (a) PV: $439,000, (b) RATE: 4%, and NPER: 30.
3. Calculate the present value of a lump sum payment with the

Using a calculator can you show me step by step how I can calculate a monthly mortgage payment.
For example the mortgage is $120K, the rate is 4.5% and the term is 360 months.
Further suppose I decide to pay off the mortgage at year 5, what would the amount owed be?
I have read the book and see the formula, I can calcul

Modify the Mortgage Calculator Design to calculate and display the payment amount for each of three loans:
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b 15 year at 5.5%
c 30 year at 5.75%
The program does not need to print an amortization table for the loans, just the payment amount. The payment amount needs to be two decimal points. The loan data

Using the present value function in MS Excel, verify that the present value of $100,000 to be received in five years at an interest rate of 16%, compounded annually, is $47,610. Calculate the present value of $100,000 for each of the following items (parts a-f) using these facts:
a. Interest is compounded semiannually
b. Int

The Garraty Company has two bond issues outstanding. Both bonds pay $100 annual interest plus $1,000 at maturity. Bond L has a maturity of 15 years, and Bond S a maturity of 1 year.
a. What will be the value of each of these bonds when the going rate of interest is (1) 5 percent, (2) 8 percent, and (3) 12 percent? Assume that

1) If you borrow $20,000 at the interest rate of 10%, what are the end-of-year payments if the loan is for five years? If the interest rate is 12.5% would the monthly payment be higher/lower
** I cant figure out the monthly payments at 12.5%. I have $5,275 a year for the first part
2) If you want to have $800,000 for retir

Joan Messineo borrowed $15,000 at a 14 percent annual interest rate to be repaid over three years. The loan is amortized into three equal annual end-of-year payments.
a. Calculate the annual end-of-year loan payment.
b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three l

You are considering the purchase of a Treasury bond in the secondary market. Bonds with five years to maturity, paying a half-yearly coupon of 12 per cent per annum, are currently yielding 10 per cent per annum. You wish to purchase a bond with a face value, at maturity, of $1000.
A) what price should you pay fro the bond tod

You are 30 years old and plan to retire at age 60. Your goal is to create a fund that will allow you to receive $100,000 per year for 25 years after the retirement. You know that you will be able to earn an average of 8% per year for all your accounts. If you make annual payments into a retirement account, how much will you need