1) Calculate the future value of $130,000 in 40 weeks at a 5% annual interest rate.

2) Suppose you win a $300 million jackpot in a lottery, which promises to pay you $20 million per year for the next 15 years. Assume the current interest rate is 4% and you receive the first payment immediately. How much is this jackpot worth in today's dollars? In other words, calculate the present value of your winnings.

3) You are ready to buy your first house. Suppose you borrow $300,000 from a bank. The loan is to be repaid in 30 years, and the annual interest rate is 3.5%. Calculate yourmonthlymortgage payment.

please i did help with a step-by-step working for studies purpose. thanks in advance

Answer rating: 100% (QA)

Certainly Here are the stepbystep calculations for each of the questions 1 Future Value Calculation To calculate the future value we use the formula f... View the full answer