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I plan to deposit $ 451 into my retirement every year for the next 25 years. The first deposit will be made today (that is,
I plan to deposit $ 451 into my retirement every year for the next 25 years. The first deposit will be made today (that is, at t = 0) and the last deposit will be made at the end of year 24 (that is, at t = 24). I plan to make no other deposits. Assuming that I will earn 10.03 % p.a. on my retirement funds, how much money will I have accumulated 36 years from today (that is, at t = 36)? (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). Several years ago, Bill Smith borrowed $125,000 to buy his house. He has a 15 year, monthly payment mortgage with an interest rate of 8.75 percent per annum. Bill is thinking about refinancing his house so he would like to know the payoff on his current loan. Assuming that he just made payment number 48, compute the payoff on Bill's loan. (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $ 174 (first payment made at t = 1), followed by five annual payments of $ 547, followed by four annual payments of $ 835. How much did you borrow? (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). Compute the present value of an annuity of $ 891 per year for 24 years, given a discount rate of 7 percent per annum. Assume that the first cash flow will occur one year from today (that is, at t = 1). (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign)
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