Need answers and solutions with the formula. Please see if you can answer those

DUE AT THE BEGINNING OF CLASS THIS HOMEWORK SET CONSISTS OF 10 PROBLEMS ON 2 PAGES SHOW YOUR WORK AND SOLUTIONS FOR FULL CREDIT Homework Set 2: Introduction to TVM Name_________________________________________ Problem 1 What is the future value of $10,000 on deposit for five years at 5% simple interest? Problem 2 Assume the total expense for your current year in college equals $35,000. Approximately how much would your parents have needed to invest 17 years ago in an account paying 7% compounded annually to cover this amount? Problem 3 How long must one wait (to the nearest year) for an initial investment of $2,000 to triple in value if the investment earns 9% compounded annually? Problem 4 Write the present value of a perpetuity formula. Problem 5 A credit card account that charges interest at the rate of 3.00% per month would have an annually compounded rate of _______ and an APR of _______. Problem 6 \"Give me $10,000 today and I'll return $20,000 to you in five years,\" offers the investment broker. To the nearest percent, what annual interest rate is being offered? Problem 7 Your car loan requires payments of $300 per month for the first year and payments of $400 per month during the second year. The annual interest rate is 12% and payments begin in one month. What is the present value of this two-year loan? Problem 8 What is the expected real rate of interest for an account that offers a 15% nominal rate of return when the rate of inflation is 5% annually? Problem 9 Assuming monthly compounding, what will be the monthly payment on a home mortgage of $800,000 at 6% interest, to be amortized over 30 years? Problem 10 If you want to save $5000 in a mutual fund by the end of 10 years and the mutual fund pay 5% interest compounded quarterly, how much money should you invest today? DUE AT THE BEGINNING OF CLASS THIS HOMEWORK SET CONSISTS OF 10 PROBLEMS ON 2 PAGES SHOW YOUR WORK AND SOLUTIONS FOR FULL CREDIT Homework Set 2: Introduction to TVM Name_________________________________________ Problem 1 What is the future value of $10,000 on deposit for five years at 5% simple interest? Problem 2 Assume the total expense for your current year in college equals $35,000. Approximately how much would your parents have needed to invest 17 years ago in an account paying 7% compounded annually to cover this amount? Problem 3 How long must one wait (to the nearest year) for an initial investment of $2,000 to triple in value if the investment earns 9% compounded annually? Problem 4 Write the present value of a perpetuity formula. Problem 5 A credit card account that charges interest at the rate of 3.00% per month would have an annually compounded rate of _______ and an APR of _______. Problem 6 \"Give me $10,000 today and I'll return $20,000 to you in five years,\" offers the investment broker. To the nearest percent, what annual interest rate is being offered? Problem 7 Your car loan requires payments of $300 per month for the first year and payments of $400 per month during the second year. The annual interest rate is 12% and payments begin in one month. What is the present value of this two-year loan? Problem 8 What is the expected real rate of interest for an account that offers a 15% nominal rate of return when the rate of inflation is 5% annually? Problem 9 Assuming monthly compounding, what will be the monthly payment on a home mortgage of $800,000 at 6% interest, to be amortized over 30 years? Problem 10 If you want to save $5000 in a mutual fund by the end of 10 years and the mutual fund pay 5% interest compounded quarterly, how much money should you invest today