Hi,

Can someone solve these questions and include the formula or calculator functions/excel used.

1. A factory owner decides to start setting aside money in order to upgrade some equipment at the end of 8 years. He believes the upgrade will cost $200,000 and immediately invests $10,000, with the intend of doing so 15 more times semiannually. If the investment has a fixed interest rate, what would it have to be in order for the factory owner to have enough money in the allotted time? Round to the nearest 100th of a percent. 2. A man purchases a 15-year mortgage for $250,000 at 3.8% interest compounding monthly with level payments. After 5 years, he has an unexpected windfall and decides to pay the balance of the mortgage. What is the remaining principal? Round to the nearest dollar. 3. A 10-year ordinary annuity with 6% interest compounding quarterly and level quarterly payments of $500 costs the same as a 15-year ordinary annuity with semiannual payments of $1000. What is the annual interest rate of the second annuity? Round to the nearest 100th of a percent. 4. A woman purchases an ordinary annuity that will pay $10,000 per month for the next 10 years. Assuming 5% annual interest compounding monthly, how much would this cost? Round to the nearest dollar. 5. A company pays $100,000 for an ordinary annuity that pays out every six months for 10 years. If the annuity has an interest rate of 7% compounded semiannually, how much should each payment be? Round to the nearest dollar. 1 FV nper PMT rate FV(cross checked) $200,000 8 $10,000 3% $200,000.00 Loan nper rate Payments Period $250,000 180 0.0031666667 $1,824.26 Beginning Balance 1 $250,000 2 $248,967.40 3 $247,931.54 4 $246,892.39 5 $245,849.95 6 $244,804.21 7 $243,755.16 8 $242,702.79 9 $241,647.08 10 $240,588.04 11 $239,525.63 12 $238,459.87 13 $237,390.73 14 $236,318.20 15 $235,242.28 16 $234,162.95 17 $233,080.20 18 $231,994.02 19 $230,904.41 20 $229,811.34 21 $228,714.81 22 $227,614.81 23 $226,511.33 24 $225,404.35 25 $224,293.87 26 $223,179.87 27 $222,062.34 28 $220,941.28 29 $219,816.66 30 $218,688.48 31 $217,556.73 32 $216,421.40 33 $215,282.47 34 $214,139.93 35 $212,993.78 36 $211,843.99 37 $210,690.57 38 $209,533.49 Payment Inerest Principal Paid $1,824.26 $791.67 $1,032.60 $1,824.26 $788.40 $1,035.87 $1,824.26 $785.12 $1,039.15 $1,824.26 $781.83 $1,042.44 $1,824.26 $778.52 $1,045.74 $1,824.26 $775.21 $1,049.05 $1,824.26 $771.89 $1,052.37 $1,824.26 $768.56 $1,055.70 $1,824.26 $765.22 $1,059.05 $1,824.26 $761.86 $1,062.40 $1,824.26 $758.50 $1,065.77 $1,824.26 $755.12 $1,069.14 $1,824.26 $751.74 $1,072.53 $1,824.26 $748.34 $1,075.92 $1,824.26 $744.93 $1,079.33 $1,824.26 $741.52 $1,082.75 $1,824.26 $738.09 $1,086.18 $1,824.26 $734.65 $1,089.62 $1,824.26 $731.20 $1,093.07 $1,824.26 $727.74 $1,096.53 $1,824.26 $724.26 $1,100.00 $1,824.26 $720.78 $1,103.48 $1,824.26 $717.29 $1,106.98 $1,824.26 $713.78 $1,110.48 $1,824.26 $710.26 $1,114.00 $1,824.26 $706.74 $1,117.53 $1,824.26 $703.20 $1,121.07 $1,824.26 $699.65 $1,124.62 $1,824.26 $696.09 $1,128.18 $1,824.26 $692.51 $1,131.75 $1,824.26 $688.93 $1,135.33 $1,824.26 $685.33 $1,138.93 $1,824.26 $681.73 $1,142.54 $1,824.26 $678.11 $1,146.15 $1,824.26 $674.48 $1,149.78 $1,824.26 $670.84 $1,153.42 $1,824.26 $667.19 $1,157.08 $1,824.26 $663.52 $1,160.74 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 $208,372.75 $207,208.33 $206,040.23 $204,868.43 $203,692.91 $202,513.68 $201,330.71 $200,143.99 $198,953.52 $197,759.27 $196,561.25 $195,359.43 $194,153.80 $192,944.36 $191,731.08 $190,513.97 $189,293.00 $188,068.16 $186,839.45 $185,606.84 $184,370.33 $183,129.91 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $659.85 $656.16 $652.46 $648.75 $645.03 $641.29 $637.55 $633.79 $630.02 $626.24 $622.44 $618.64 $614.82 $610.99 $607.15 $603.29 $599.43 $595.55 $591.66 $587.76 $583.84 $579.91 $1,164.42 $1,168.10 $1,171.80 $1,175.51 $1,179.24 $1,182.97 $1,186.72 $1,190.47 $1,194.24 $1,198.03 $1,201.82 $1,205.63 $1,209.44 $1,213.27 $1,217.12 $1,220.97 $1,224.84 $1,228.71 $1,232.61 $1,236.51 $1,240.42 $1,244.35 Ending Balnace $248,967.40 $247,931.54 $246,892.39 $245,849.95 $244,804.21 $243,755.16 $242,702.79 $241,647.08 $240,588.04 $239,525.63 $238,459.87 $237,390.73 $236,318.20 $235,242.28 $234,162.95 $233,080.20 $231,994.02 $230,904.41 $229,811.34 $228,714.81 $227,614.81 $226,511.33 $225,404.35 $224,293.87 $223,179.87 $222,062.34 $220,941.28 $219,816.66 $218,688.48 $217,556.73 $216,421.40 $215,282.47 $214,139.93 $212,993.78 $211,843.99 $210,690.57 $209,533.49 $208,372.75 $207,208.33 $206,040.23 $204,868.43 $203,692.91 $202,513.68 $201,330.71 $200,143.99 $198,953.52 $197,759.27 $196,561.25 $195,359.43 $194,153.80 $192,944.36 $191,731.08 $190,513.97 $189,293.00 $188,068.16 $186,839.45 $185,606.84 $184,370.33 $183,129.91 $181,885.56 First Annuity nper rate PMT PV1 PV2 rate PV2(cross checked) Second Annuity 10 30 6% ? $500 $1,000 $14,957.92 $14,957.92 Present value will be same as for first condition bec 5% $14,957.92 same as for first condition because both annuties are same as given in question. PMT nper rate PV PMT(cross $10,000 10 5% $942,813.50 $10,000.00 PV nper rate PMT $100,000 20 4% $7,036.11 1 FV nper PMT rate FV(cross checked) $200,000 8 $10,000 3% $200,000.00 Loan nper rate Payments Period $250,000 180 0.0031666667 $1,824.26 Beginning Balance 1 $250,000 2 $248,967.40 3 $247,931.54 4 $246,892.39 5 $245,849.95 6 $244,804.21 7 $243,755.16 8 $242,702.79 9 $241,647.08 10 $240,588.04 11 $239,525.63 12 $238,459.87 13 $237,390.73 14 $236,318.20 15 $235,242.28 16 $234,162.95 17 $233,080.20 18 $231,994.02 19 $230,904.41 20 $229,811.34 21 $228,714.81 22 $227,614.81 23 $226,511.33 24 $225,404.35 25 $224,293.87 26 $223,179.87 27 $222,062.34 28 $220,941.28 29 $219,816.66 30 $218,688.48 31 $217,556.73 32 $216,421.40 33 $215,282.47 34 $214,139.93 35 $212,993.78 36 $211,843.99 37 $210,690.57 38 $209,533.49 Payment Inerest Principal Paid $1,824.26 $791.67 $1,032.60 $1,824.26 $788.40 $1,035.87 $1,824.26 $785.12 $1,039.15 $1,824.26 $781.83 $1,042.44 $1,824.26 $778.52 $1,045.74 $1,824.26 $775.21 $1,049.05 $1,824.26 $771.89 $1,052.37 $1,824.26 $768.56 $1,055.70 $1,824.26 $765.22 $1,059.05 $1,824.26 $761.86 $1,062.40 $1,824.26 $758.50 $1,065.77 $1,824.26 $755.12 $1,069.14 $1,824.26 $751.74 $1,072.53 $1,824.26 $748.34 $1,075.92 $1,824.26 $744.93 $1,079.33 $1,824.26 $741.52 $1,082.75 $1,824.26 $738.09 $1,086.18 $1,824.26 $734.65 $1,089.62 $1,824.26 $731.20 $1,093.07 $1,824.26 $727.74 $1,096.53 $1,824.26 $724.26 $1,100.00 $1,824.26 $720.78 $1,103.48 $1,824.26 $717.29 $1,106.98 $1,824.26 $713.78 $1,110.48 $1,824.26 $710.26 $1,114.00 $1,824.26 $706.74 $1,117.53 $1,824.26 $703.20 $1,121.07 $1,824.26 $699.65 $1,124.62 $1,824.26 $696.09 $1,128.18 $1,824.26 $692.51 $1,131.75 $1,824.26 $688.93 $1,135.33 $1,824.26 $685.33 $1,138.93 $1,824.26 $681.73 $1,142.54 $1,824.26 $678.11 $1,146.15 $1,824.26 $674.48 $1,149.78 $1,824.26 $670.84 $1,153.42 $1,824.26 $667.19 $1,157.08 $1,824.26 $663.52 $1,160.74 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 $208,372.75 $207,208.33 $206,040.23 $204,868.43 $203,692.91 $202,513.68 $201,330.71 $200,143.99 $198,953.52 $197,759.27 $196,561.25 $195,359.43 $194,153.80 $192,944.36 $191,731.08 $190,513.97 $189,293.00 $188,068.16 $186,839.45 $185,606.84 $184,370.33 $183,129.91 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $1,824.26 $659.85 $656.16 $652.46 $648.75 $645.03 $641.29 $637.55 $633.79 $630.02 $626.24 $622.44 $618.64 $614.82 $610.99 $607.15 $603.29 $599.43 $595.55 $591.66 $587.76 $583.84 $579.91 $1,164.42 $1,168.10 $1,171.80 $1,175.51 $1,179.24 $1,182.97 $1,186.72 $1,190.47 $1,194.24 $1,198.03 $1,201.82 $1,205.63 $1,209.44 $1,213.27 $1,217.12 $1,220.97 $1,224.84 $1,228.71 $1,232.61 $1,236.51 $1,240.42 $1,244.35 Ending Balnace $248,967.40 $247,931.54 $246,892.39 $245,849.95 $244,804.21 $243,755.16 $242,702.79 $241,647.08 $240,588.04 $239,525.63 $238,459.87 $237,390.73 $236,318.20 $235,242.28 $234,162.95 $233,080.20 $231,994.02 $230,904.41 $229,811.34 $228,714.81 $227,614.81 $226,511.33 $225,404.35 $224,293.87 $223,179.87 $222,062.34 $220,941.28 $219,816.66 $218,688.48 $217,556.73 $216,421.40 $215,282.47 $214,139.93 $212,993.78 $211,843.99 $210,690.57 $209,533.49 $208,372.75 $207,208.33 $206,040.23 $204,868.43 $203,692.91 $202,513.68 $201,330.71 $200,143.99 $198,953.52 $197,759.27 $196,561.25 $195,359.43 $194,153.80 $192,944.36 $191,731.08 $190,513.97 $189,293.00 $188,068.16 $186,839.45 $185,606.84 $184,370.33 $183,129.91 $181,885.56 First Annuity nper rate PMT PV1 PV2 rate PV2(cross checked) Second Annuity 10 30 6% ? $500 $1,000 $14,957.92 $14,957.92 Present value will be same as for first condition bec 5% $14,957.92 same as for first condition because both annuties are same as given in question. PMT nper rate PV PMT(cross $10,000 10 5% $942,813.50 $10,000.00 PV nper rate PMT $100,000 20 4% $7,036.11