Question
*How would you plug this in to the BA II Plus? 1.) What's the future value of a 7%, 5-year annuity due that pays $300
*How would you plug this in to the BA II Plus?
1.) What's the future value of a 7%, 5-year annuity due that pays $300 each year? (Answer should be in the absolute value and be rounded to the second decimal.)
2.) Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9% interest per year, how many loan payment must the company make?
Please round your answer to the nearest integer.
3.) What is the present value of $27 received at the end of year for five years? Assume a discount rate of 9%. The first payment will be received one year from today.
4.) You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. The annual interest rate is? Please convert your answer into decimals and round to the second decimal: such as 0.00
5.) Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 10% compounded annually. (Please make sure that all answers are rounded to the second decimal and no "comma" sign should be included.)
Period | Beginning Balance | Payment Amount | Interest Paid | Principal Paid | Ending Balance |
Year 1 | $25000 | $ | $ | $ | $ |
Year 2 | $ | $ | $ | $ | $ |
Year 3 | $ | $ | $ | $ | $ 0 |
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6.) Set up a first-month amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each month for the next 3 years. The interest rate is 10% compounded monthly. (Please make sure that all answers are rounded to the second decimal and no "comma" sign should be included.)
Period Beginning Balance Payment Amount Interest Paid Principal Paid Ending Balance Month 1 $25000 $ $ $ $
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