I just need formulas and cell references for these questions. Thank you very much in advance. :)

Problem 5: Financial Analysis A group of private investors purchased a condominium complex of $2 million. They made an initial down payment of 10% and obtained financing for the balance. If the loan is to be amortized over 15 years at an interest rate of 12% per year compounded quarterly, find the required quarterly payment.

Solution: First, the down payment = $ 200,000.00 So the amount to be financed = $ 1,800,000.00 1 1 i ( ) + P i 1 1 i ( ) + n R P = $ 1,800,000.00 P = present value i = 3.0000% i = interest rate per period n = 60 n = total number of periods R = ? $ 65,039.33 R = amount of each installment $65,039.33 <---OR, use the Excel PMT function, "=PMT(D110,D111,-1*D109,0,0)". $ 65,039.33 is the required quarterly payment.

Problem 6: Financing A Home A couple purchased a $180,000 house. They made an initial down payment of $20,000 and secured a mortgage with interest charged at the rate of 8% per year on the unpaid balance. Interest computations are made at the end of each month. If the loan is to be amortized over 30 years, what monthly payment will they be required to make?

Solution: First, the down payment = $ 20,000.00 So the amount to be financed = $ 160,000.00 P = $ 160,000.00 P = present value i = 0.6667% i = interest rate per period n = 360 n = total number of periods R = ? $ 1,174.02 R = amount of each installment $1,174.02 <---OR, use the Excel PMT function, "=PMT(D131,D132,-1*D130,0,0)". $ 1,174.02 is the required monthly payment.

Problem 7: Sinking Funds A city has $2.5 million worth of school bonds that are due in 20 years and has established a sinking fund to retire this debt. If the fund earns interest at the rate of 7% per year compounded annually, what amount must be deposited annually in this fund?

Solution: becomes becomes (Formula for FV) S = $ 2,500,000.00 S = future value i = 7.0000% i = interest rate per period n = 20 n = total number of periods R = ? $ 60,982.31 R = amount of each installment $60,982.31 <---OR, use the Excel PMT function, "=PMT(D150,D151,0,-1*D149,0)". $ 60,982.31 must be deposited annually.

Problem 8: Sinking Funds A corporation wishes to establish a sinking fund to retire a $200,000 debt that is due in 10 years. If the investment will earn interest at the rate of 9% per year compounded quarterly, find the amount of the quarterly deposit that must be made in order to accumulate the required sum.

Solution: becomes becomes (Formula for FV) S = $ 200,000.00 S = future value i = 2.2500% i = interest rate per period n = 40 n = total number of periods R = ? $ 3,135.48 R = amount of each installment $3,135.48 <---OR, use the Excel PMT function, "=PMT(D169,D168,0,-1*D167,0)". $ 3,135.48 is the required quarterly deposit.

Problem 9: Trust Funds Carl is the beneficiary of a $20,000 trust fund set up for him by his grandparents. Under the terms of the trust, he is to receive the money over a 5-year period in equal installments at the end of each year. If the fund earns interest at the rate of 9% per year compounded annually, what amount will he receive each year?

Solution: Note: $20,000 is the amount set aside today for the trust fund, s P = $ 20,000.00 P = present value i = 9.0000% i = interest rate per period n = 5 n = total number of periods R = ? $ 5,141.85 R = amount of each installment $5,141.85 <---OR, use the Excel PMT function, "=PMT(D131,D132,-1*D130,0,0)". $ 5,141.85 is the required monthly payment.

Problem 10: Sinking Funds The management of a brokerage firm anticipates a capital expenditure of $26,000 in 3 years' time for the purpose of purchasing new fax machines and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of 10% per year compounded quarterly, determine the size of each (equal) quarterly installment that should be deposited in the fund.

Solution: becomes becomes (Formula for FV) S = $ 26,000.00 S = future value i = 2.5000% i = interest rate per period n = 12 n = total number of periods R = ? $ 1,884.67 R = amount of each installment $1,884.67 <---OR, use the Excel PMT function, "=PMT(D206,D207,0,-1*D205,0)". R $ 1,884.67 is the size of each quarterly payment.

Problem 11: Keogh Accounts A self-employed individual wishes to accumulate a retirement fund of $250,000. How much should this person deposit each month into a Keogh account, which pays interest at the rate of 8.5% per year compounded monthly, to reach this goal upon retirement 25 years from now?

Solution: becomes becomes (Formula for FV) S = $ 250,000.00 S = future value i = 0.7083% i = interest rate per period n = 300 n = total number of periods R = ? $ 242.23 R = amount of each installment $242.23 <---OR, use the Excel PMT function, "=PMT(D224,D225,0,-1*D223,0)". $ 242.23 is the amount of each monthly payment.