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1. If the interest on the outstanding balance of a credit card account is charged at 1.8% per month, what is the accumulation factor for
1. If the interest on the outstanding balance of a credit card account is charged at 1.8% per month, what is the accumulation factor for 1 year? 2. A loan of $1300 is to be amortized with 6 equal monthly month-end payments at the interest rate of 12% per annum compounded monthly Determine the monthly payment in 2 decimal places 3. A mobile home worth $36,000 is purchased with a down payment of $6,000 and monthly month-end payments for 15 years. If the interest rate is 9% per annum compounded monthly, determine the balance just after the 10" payment, in 2 decimal places 4. A debt of $22,000 is to be amortised by payments of $5,000 at the end of each quarter. The balance at the end of the first quarter is $18,050. What is the interest rate per quarter in percentage in 2 decimal places? 5. The population of Happy Town was 20,000 in 1990 and 25,000 in 2000. Estimate the increase in population of the town between 2010 and 2020, in integer 6. A firm will start paying annual dividends in three-year time and dividends thereafter are expected to grow at a rate of 4.5% per year. The first dividend will be $5 per share. The interest rate for discounting is 11.5% throughout. What is the present value of one share of the firm
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