ANNUITY D
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ANNUITY DUE PROBLEM
- Manny Pacquiao bought a luxury car. Paid P 500,000 as down payment and P 30,000 payable at the beginning of each month for 36 months. If money is worth 10% compounded monthly. What is the equivalent cash value of the car?
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- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?Supposed you want to buy a used car but your savings is not enough. To do this, you borrow P60,000 to be amortized in four equal payments at the end of each of the next four years, and the interest rate is paid 15 percent on the outstanding loan. What is the annuity payment?
- Suppose that you borrow $11,000 for five years at 5% toward the purchase of a car. whats the monly payment?In order to buy a car, you borrow $30,000 from a friend at 8%/year compounded monthly for 4 years. You plan to repay the loan with 48 equal monthly payments.Part a)How much are the monthly payments? $______ per month.suppose you want to buy a new car that costs you 15514 OMR by a loan from bank Muscat for 6 years. the bank charges you 4.004 percent on your loan. what is the annual payment should you pay to the bank every year on your loan?
- Payments of Ordinary Annuities Ryan wants to get together $40 000 to purchase the first house in his housing empire. He does the math, and he begins making regular quarterly deposits into a savings account that earns 8.5%, compounded quarterly, for 5 years. What must his regular deposits be in order to achieve his goal of saving $40 000 in 5 years?How much money must be deposited today in order to withdraw P500 monthly for 5 years if interest rate is 10% compounded monthly?2. A man obtained a loan of P50,000 at the rate of 6% compounded annually in order to repair his house. How much he pay monthly to amortize the loan within a period of 5 years?3. What is the accumulated amount of an 8 year annuity paying P2000 with an interest of 15% compounded quarterly?4. What is the present worth of a P15,000 annuity starting at the end of the 3rdyear and continuing to the end of the 10th year, if the annual interest rate is 8%?5. What is the present value of a perpetuity that pays P15,000 per month if the interest rate is 6% compounded semiannually?You took out a loan to buy a new car. The monthly interest rate on the loan is 0.6%. You have to pay $240 every month for 60 months. a. What is the present value of the cash flows if it's an ordinary annuity? b.
- You decide to borrow $250,000 to build a new home. The bank charges an interest rate of 8% compounded monthly. If you pay back the loan over 30 years, what will your monthly payments be ( rounded to the nearest dollar)? a. $1, 123 b. $ 1, 237 c. $1, 687 d. $1, 834Suppose that, to purchase a car, you are obtaining a personal loan from your uncle in the amount of S65,000 (now) to be repaid in five years. it your uncle could earn 6% interest (oompounded annually) on his money invested in various sources, what minimum lump-sum payment five years trom now would make your uncle happy economically? OA S78648 OB S134, 168 OC s06,985 Oo S92, 2411. Find the present and future value of an ordinary annuity of Php5,000 payable semi-annually for 10 years if money is worth 6% compounded semi- annually. 2. The buyer of a car of a car pays Php169,000 cash and Phpl2,000 every month for 5 years. If money is 10% compounded monthly, how much is the cash price of the car? 3. A high school student wouid like to save Php50,000 for his graduation. How much should he deposit in a savings account every month for 5.5 years if interest is at 0.25% compounded monthly?
