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Only questions 14, 15, 18 & 26 14. you're a great uncle Claude is 82 years old. Over the years, he has accumulated savings of

Only questions 14, 15, 18 & 26 image text in transcribed
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14. you're a great uncle Claude is 82 years old. Over the years, he has accumulated savings of $80,000. He estimates that you live in 13 years at the most and wants to spend his savings by then. (If he lives longer than that she will be happy to take care of him).
15. you decide to purchase a building for $30,000 by paying $5000 down and assuming a mortgage of $25,000. The bank offers you a 15 year mortgage requiring annual end of year payments of $3188 each. The bank also requires you to pay a 3% loan origination fee, which will reduce the effective amount the bank lens to you. Compute the annual percentage rate of interest on this loan.
18. Your parents have discovered a $1000 bond at the bottom of the safe deposit box. The band was given do you buy your late great aunt Hilda on your second birthday. The bond pays interest at a rate of 5% per animal, compounded annually. Interest accumulates and is paid at the time the bond is redeemed. You are now 27 years old. What is the current worth of the bond (principal plus interest)?
26. determine the value at the end of three years of a $10,000 investment (today) in a bank certificate of deposit that pays a nominal annual interest rate of 8% compounded:
a. semi annually
b. quarterly
c. monthly
Sent 1 Cash Flows Year $5.000 000 2.000 8.000 Investment 2 Cash Flows Year $8.000 1 7000 2 6.000 3 5.000 4 14. Your great-uncle Claude is 82 years old. Over the years, he has accumulated savings F SKOLOGO He estimates that he will live another 10 years at the most and wants to spend his savings by then, elf he lives longer than that, he figures you will be happy to take care of him.) Uncle Claude places his $80,000 into an account earning 10 percent annually andsets it up in such a way that he will be making 10 equal annual withdrawals-the first one occurring one year from now-such that his account balance will be zero at the end of 10 years. How much will he be able to withdraw each year? 15. You decide to purchase a building for $30,000 by paying $5,000 down and assuming a mortgage of $25,000. The bank offers you a 15-year mortgage requiring annual end-of-year payments of $3,188 each. The bank also requires you to pay a 3 percent loan origination fee, which will reduce the effective amount the bank lends to you. Compute the annual percentage rate of interest on this loan. 18. Your parents have discovered a $1.000 bond at the bottom of their safe-deposit box The band was given to you by your late great-aunt Hilda on your second birthday. The bond pays interest at a rate of 5 percent per annum, compounded annually. Interest accumulates and is paid at the time the bond is redeemed. You are now 27 years old. What is the current worth of the bond (principal plus interest 25 alue at the end of three years of a $10,000 investment (today) in a ulifate of desiti that pays a nominal annual interest rate of 8 per- mpounded Semanually Manthi Sitxfav. Cash inflows from the investment

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