attached file- plz help this s finance and i am so confused...if you can explain too the would be great

1. Old Time Savings Bank pays 5% interest on its savings accounts. If you deposit $1,700 in the b leave it there (Do not round intermediate calculations. Round your answers to 2 decimal p a How much interest will you earn in the first year? . First year interest $ b How much interest will you earn in the second year? . Second year interest $ c How much interest will you earn in the tenth year? . Tenth year interest $ 2. 2. value: 1.50 points Compute the future value of a $185 cash flow for the following combinations of rates and times. round intermediate calculations. Round your answers to 2 decimal places.) Future Value r = 8%, t a = 10 . years r = 8%, t b = 20 . years r = 4%, t c = 10 . years d r = 4%, t . = 20 $ $ $ $ years 3. If you earn 6% per year on your bank account, how long will it take an account with $110 to double to $220? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Number of years 4. value: 1.50 points In 1880 five aboriginal trackers were each promised the equivalent of 100 Australian dollars for capture the notorious outlaw Ned Kelley. In 2001 the granddaughters of two of the trackers claim this reward had not been paid. The Victorian prime minister stated that if this was true, the gove would be happy to pay the $100. However, the granddaughters also claimed that they were enti compound interest. a How much was each granddaughter entitled to if the interest rate was 3%? (Do not round . intermediate calculations. Round your answer to 2 decimal places.) Future value A$ b How much was each entitled to if the interest rate was 6%? (Do not round intermediate . calculations. Round your answer to 2 decimal places.) Future value 5. A$ You can buy property today for $2.9 million and sell it in 5 years for $3.9 million. (You earn no re income on the property.) a. If the interest rate is 8%, what is the present value of the sales price? (Do not round inter calculations. Enter your answer in millions rounded to 3 decimal places.) Present value c1. $ million What is the present value of the future cash flows, if you also could earn $190,000 per yea the property? The rent is paid at the end of each year. (Do not round intermediate calcu Enter your answer in millions rounded to 3 decimal places.) Present value $ million 6. value: 1.50 points 6.value: 1.50 points Find the interest rate implied by the following combinations of present and future values: (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places) Present Value Years Future Value Interest Rate $ 490 11 $ 930 228 4 322 390 7 390 % % % 7.value: 1.50 points A famous quarterback just signed a $16.0 million contract providing $3.6 million a year for 4 years. A less famous receiver signed a $15.0 million 4-year contract providing $3 million now and $3.0 million a year for 4 years. The interest rate is 9%. a. What is the PV of the quarterback's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value$ million b. What is the PV of the receiver's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value$ million c. Who is better paid? Quarterback Receiver 8.value: 1.50 points A local bank advertises the following deal: Pay us $100 at the end of each year for 10 years and then we will pay you (or your beneficiaries) $100 at the end of each year forever. a. Calculate the present value of your payments to the bank if the interest rate available on other deposits is 8.75%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value$ b. What is the present value of a $100 perpetuity deferred for 10 years if the interest rate available on other deposits is 8.75%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value$ c. Is this a good deal? No Yes 9.value: 1.50 points You take out a 20-year $290,000 mortgage loan with an APR of 9% and monthly payments. In 11 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan? (Round the monthly loan payment to 2 decimal places when computing the answer. Round your answer to 2 decimal places.) Principal balance on the loan $ 10.value: 1.50 points Home loans typically involve \"points,\" which are fees charged by the lender. Each point charged means that the borrower must pay 1% of the loan amount as a fee. For example, if the loan is for $200,000 and 3 points are charged, the loan repayment schedule is calculated on a $200,000 loan but the net amount the borrower receives is only $194,000. Assume the interest rate is 1.25% per month. What is the effective annual interest rate charged on such a loan, assuming loan repayment occurs over 240 months? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Use a financial calculator or Excel.) Effective annual interest rate % 11.value: 1.50 points A couple will retire in 50 years; they plan to spend about $20,000 a year in retirement, which should last about 25 years. They believe that they can earn 9% interest on retirement savings. a. If they make annual payments into a savings plan, how much will they need to save each year? Assume the first payment comes in 1 year. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment $ b. How would the answer to part (a) change if the couple also realize that in 20 years they will need to spend $50,000 on their child's college education? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment $ 12.value: 1.50 points A store will give you a 3.75% discount on the cost of your purchase if you pay cash today. Otherwise, you will be billed the full price with payment due in 1 month. What is the implicit borrowing rate being paid by customers who choose to defer payment for the month? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate % 13.value: 1.50 points a. How much will $100 grow to if invested at a continuously compounded interest rate of 11.5% for 8 years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Future value $ b. What if it is invested for 11.5 years at 8%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Future value $ 14.value: 1.50 points In April 2013 a pound of apples cost $1.59, while oranges cost $1.23. Four years earlier the price of apples was only $1.38 a pound and that of oranges was $1.09 a pound. a. What was the annual compound rate of growth in the price of apples? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Compound annual growth rate % per year b. What was the annual compound rate of growth in the price of oranges? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Compound annual growth rate % per year c. If the same rates of growth persist in the future, what will be the price of apples in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price $ d. If the same rates of growth persist in the future, what will be the price of oranges in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price $ 15.value: 2.00 points An engineer in 1950 was earning $5,700 a year. Today she earns $57,000 a year. However, on average, goods today cost 8.5 times what they did in 1950. What is her real income today in terms of constant 1950 dollars? (Round your answer to 2 decimal places.) Today's real income $