Question
1. What is the present value of 52 monthly cashflows of $212 each starting today if the interest rate is 3.3% per year monthly compounded?
1. What is the present value of 52 monthly cashflows of $212 each starting today if the interest rate is 3.3% per year monthly compounded? Round to the nearest cent.
2. If you take out an amortized loan of $35,000 with a 9 year term and 6.8% interest rate, what are the annual payments you need to make? Round to the nearest cent.
3. Suppose you take out a $15,000 7-year balloon loan from a bank at an interest rate of 6.9%. What will be the balloon payment at the end of the loan term? Round to the nearest cent.
4. You own a 28-year, 4.1% annual coupon bond with $1,000 face value. If the yield to maturity is 5%, how much is it worth? Round to the nearest cent.
5. You make a one-time $2,604 deposit into an account which pays 2.6% compounded weekly. If you don't touch this account for 6 years, how much interest will the account generate during that time? Round to the nearest cent.
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