Numbers File Edit Insert Table Organize Format Arrange View Share Window Help Class Activity 01(1) - Edited . -T Chart Text Shape Media Comment 1333 View Zoom Table Ador Section 2 Problems Section 1 Review Examples O c D F 0 H 6- Elise's brother works in a supermarket and is able to save $3,000, $3,600, and $4,200 after 1, 2 and 3 years respectively. Calculate the future value of his savings. Assume an interest rate of 2.4% 90 91 92 93 94 95 7. John's brother finished his high school and starts studying at University of Idaho. He decides that he needs a loan of $3,600 per year for the next five years to cover his expenses. What is the future value of this loan? Assume an interest rate of 1.1% 97 99 100 105 102 100 104 105 8-John and his wife have a farm that earns a net income of $45,000 a year. If they assume that their net income will have a 106 constant growth rate of 5%, and their discount rate is 9% a. Calculate the new discount rate 107 10B 100 110 111 113 b. What is the present value of income earned over the next six years? 115 118 117 tv MacBook Air eSC SO 3 888 PE 16 ! 1 @ 2 $ 4 % 5 & 7 3 6 8 W E R T Y U ul Insert Table Chart Text Shape Media Comment Zoom Add Category Section 2 Problems Section 1 Review Examples D G 1 B O H A 119 120 121 122 9. Upon graduation and employment, you wish to purchase a new car with financing from a financial institution. You will need a loan of $35,000 repayable in 48 monthly payments at an annual interest rate of 8%. Determine the level of the monthly payments, and set up a mortgage table in which you determine the repayments of principal and interest 125 128 120 130 131 10- You are leasing equipment from a retired farmer. The equipment is currently worth $300,000 and will be worth $150,000 in 152 2 years when the lease is over 133 134 a. What should monthly payments be if 8% interest is desired? b. What if interest rate is 0%? 130 10 142 543 c. What if payments occur at the beginning of each period? 165 100 147 148 tv MacBook Air DU esc 80 F3 888 74 go 19 F2 56 A @ ! 1 # 3 $ 4 % 5 & 7 2 6 8 Q W E R T Y U