# 4-15 Sorry for all the questions, I just hate paying 3$ per question. Thank you so much for the help.

Level 1 1. IN YOUR OWN WORDS What are a reasonable down pay- 19. ment and monthly payment for a home in your area? 2. IN YOUR OWN WORDS What are a reasonable down pay- Le ment and monthly payment for a new automobile? In 3. IN YOUR OWN WORDS Outline a procedure for identifying the type of financial formula for a given applied problem. 20 4. What is the formula for the present value of an annuity? What is the unknown? 21 5. What is the amortization formula? What is the unknown? 22 Classify the type of financial formula for the information given in Problems 6-11. Lump-Sum Problems P A 23 6. known unknown unom adj's 7. unknown known Periodic Payment Problems P A m 8. unknown known 2 12 16 momysq vidinoun 9. usuit or unknown known slugles ism amos ob bris ining sant adj b 10. known unknown 11. known unknown emoldong la In Problems 12-15, match each formula in Column A with the type of financial problem in Column B. Column A Column B 12. A = m (1 + ;)m - 17 Annuity 1 - 1 +,) -m 13. P = m Amortization A() 14. m = (1 + !)m - 1 Present value of an annuity 15. m = 1 - ( 1 +,) -" Sinking fund Classify the financial problems in Problems 16-19, and then answer each question by assuming a 12% interest rate com- pounded annually. 16. Find the value of a $1,000 certificate in 3 years. 17. Deposit $300 at the end of each year. What is the total in the account in 10 years