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Additional Problems: 1. An annuity immediate pays 500| every year for 10 years. Calculate the present value at the following rates of interest: a. Annual effective interest rate of 6% b. Nominal interest rate convertible monthly of 8% c. Nominal rate of discount convertible once every two years of 4% 2. An annuity immediate pays 200 every month for 10 years. Calculate the present value at the following rates of interest: a. Annual effective interest rate of 6% b. Nominal interest rate convertible monthly of 8% c. Nominal rate of discount convertible once every two years of 4% 3. The present value of a series of payments of 2 at the end of every eight years, forever, is equal to 5. Calculate the effective rate of interest. 4. A renter with $1,104 has a one year lease. The landlord is willing to accept two payment options: a. $1,104 now; or b. $100 paid at the beginning of each month for twelve months. What monthly interest rate would be required for the two options to be equivalent? 5. Show, using Shorthand Economic Form, how you would calculate an equivalent uniform annual amount for cash flows of 800, 200 and 700 in years 1 -3 respectively with an annual interest rate, compounded annually, of 8% for year 0 - 1, 10% for year 1-2 and 6% for year 2-3. (2.5 points) Sheila takes out a $20,000 loan over 2 years with a monthly repayment of $941.5, at an annual interest rate of 18% compounded monthly. Show the first three months of the amortization schedule in tabular format. (2.5 points) 7. Ual is soliciting gifts for the new Engineering Economy building (to be announced on April 1). Maintenance money for the new building totals $50,000 for each of the first five years, and $70,000 each year after that. The building has an indefinite service life. How much needs to be given now to cover the maintenance costs, if the interest paid is 10% annually? Continue over if necessary. (2.5 points) 8. What is the equal payment series for 15 years that is equivalent to a payment series of $10'000 at the end of the first year decreasing by $500 each year over the next 14 years? Interest is 9% compounded annually Gradient series2. A 5-hp 240 Shunt motor has a full-load current of 24 A. The armature resistance of the motor is 0.75!2. Design the steps of the series starting resistor so that the current will not exceed 200% of fullload value.Solve all questions accordingly. 1. Given F= 4000, n =7, i = 3 % per year. The present value (P) is Format : 2449.2 2. If you were to invest RM210 for two years, while earning 17% simple interest, what is the total amount of interest that you will earn? Format : 75.9 3. A chip supplier signs a 15 year contract worth RM510 million at year zero.A Calculate the equivalent equal annual payments over the length of the contract, assuming an interest rate of 7% per year. Format : 66499000 4. What is the future value at year 3 of the following set of cash flows if the discount rate is 9%? Year 2 Format : 502.89 Cash Flow 110 200 240 260 Q5. For the RM8200 amount borrowed, the repayment is scheduled to be over 2 year, to be paid monthly. Calculate the remaining unpaid loan after the 6th payment. The interest is 12 compounded monthly. Format : 8342.58Answers should be positive numbers/percentages! Annual Interest Rate = Monthly Interest Rate x 12 Answers What is the future value of $5,000 in three year, compounded monthly at a monthly interest rate of 1.07 % ? Find the monthly interest rate if you can pay back a loan of 17,500 TRY with monthly payments of 450 TRY for 4 years. What is the net present value of a series of 9 monthly payments of 150 TRY at an annual interest rate of 12.6 % where the first payment is now? Suppose you obtain a consumer credit of 160,000 TRY from the bank with an annual interest rate of 13.4 % and a payback period of 6 years. What are your monthly payments if the payments are to be made at the end of each month? As of 2013, Turkey's GDP (The Gross Domestic Product) is $821,800 million, and Canada's GDP is $1,825,000 million. Assuming Canadian GDP continues to grow at an annual rate of 3.2% over the next 10 years. What must be the growth rate of the Turkish GDP so it is equal to the Canadian GDP in 10 years