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Please help answer the following finance questions. Please show work in excel. Please show work in excel. Thanks 1. Ginger borrowed $350,000 at 5.25%. Her

Please help answer the following finance questions. Please show work in excel.

image text in transcribed Please show work in excel. Thanks 1. Ginger borrowed $350,000 at 5.25%. Her loan is for 30 years. How much will her monthly payment be 2. Forest & Main earned $1.50 per share three years ago. Its earnings this year were $2.75. What was the growth rate in earnings per share over the 3-year period? 3 . What is the effective annual interest rate for a 6.25% loan with interest compounded daily based on a 365 day year? 4. Bucky Bavasi just bought a new TV that cost $1,500. He plans to finance the purchase with his new credit card which has an 18% nominal interest rate. The minimum payment on the card is $24.16 per month. If he makes the minimum payment and makes no other charges, how many months will it take before he pays off the card? 5. How much must the Big Boy invest today to spend $15,000 next year on a trip to Tahiti, $30,000 for a new car three years from today, and $25,000 per year for five years beginning at the end of year 4 for other fun stuff? He can earn 5% on his investments. 6. How much money will Slats Slattery accumulate at the end of twenty years if he presently has $175,000 and plans to invest $50,000 per year for the next ten years? He can earn 4% on his investments. 7. Lucky just won the Power Ball lottery for $300,000,000. She has the option of receiving a $15,000,000 annuity for the next 20 years beginning today or a lump sum payment of $175,000,000 today. If she can earn 6% on her investments, should she take the lump sum or annuity? (a) Take Lump Sum (b) Take Annuity 8. Monk Manley needs $30,000 to buy a new car. Nick the Greek has offered to lend him the money if he agrees to repay $622.75 per month for the next 5 years. What annual interest rate is being charged on the loan? 9. Meat Murray wishes to buy a boat in five years that presently costs $120,000. He expects the cost of the boat to increase due to inflation by 2% per year for the next two years and 4% per year the following three years. He also wants to spend $75,000 per year for 6 years beginning at the end of 10 years from today. How much must he save each year for the next 5 years if he can earn 7% on his investments 10. Horseman Pileggi borrowed $20,000 at a rate of 10% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would he reduce the amount he owes in the first year

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