Complete the following problem sets from Chapter 5 in Microsoft® Excel®:
5-1
FutureValueCompute the future value in year 9 of a $2,000 deposit in year 1 and another $1,500 deposit at the end of year 3 using a 10 percent interest rate.(LG5-1)
5-3
Future Value of an AnnuityWhat is the future value of a $900 annuity payment over five years if interest rates are 8 percent?(LG5-2)
5-5
Present Value Compute the present value of a $2,000 deposit in year 1 and another $1,500 deposit at the end of year 3 if interest rates are 10 percent.(LG5-3)
5-7
Present Value of an AnnuityWhat’s the present value of a $900 annuity payment over five years if interest rates are 8 percent?(LG5-4)
5-12
Present Value of an Annuity Due If the present value of an ordinary, 6-year annuity is $8,500 and interest rates are 9.5 percent, what’s the present value of the same annuity due?(LG5-6)
5-15
Effective Annual Rate A loan is offered with monthly payments and a 10 percent APR. What’s the loan’s effective annual rate (EAR)?(LG5-7)
5-39 (Calculate monthly payment only)
Click the Assignment Files tab to submit your assignment.
Loan Payments You wish to buy a $25,000 car. The dealer offers you a 4-year loan with a 9 percent APR. What are the monthly payments? How would the payment differ if you paid interest only? What would the consequences of such a decision be?(LG5-9)
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