Question
I need the step by step excel solution, ie. =FV(rate, per, pmt, [pv], type). Thank you Problem #34 (page 159) 34. Calculating Annuity Interest Rates
I need the step by step excel solution, ie. =FV(rate, per, pmt, [pv], type). Thank you
Problem #34 (page 159)
34. Calculating Annuity Interest Rates
Although you may know William Shakespeare from his classic literature, what is not well-known is that he was an astute investor. In 1604, when he was 40 and writing King Lear, Shakespeare grew worried about his eventual retirement. Afraid that he would become like King Lear in his retirement and beg hospitality from his children, he purchased grain "tithes," or shares in farm output, for 440 pounds. The tithes paid him 60 pounds per year for 31 years. Even though he died at the age of 52, his children received the remaining payments. What interest rate did the Bard of Avon receive on this investment?
Problem #37
37. Calculating Rates of Return
You're trying to choose between two different investments, both of which have up-front costs of $30,000. Investment G returns $65,000 in six years. Investment H returns $98,000 in nine years. Which of these investments has the higher return?
Problem #55 (I want to see the amortization schedule - it will be worth points!)
55. Amortization with Equal Payments
make an amortization schedule for a three-year loan of $57,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan?
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