Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please use Excel formulas and plug in information given. The questions were answered earlier not giving excel formulas and confused me . Thank you! Time

Please use Excel formulas and plug in information given. The questions were answered earlier not giving excel formulas and confused me. Thank you!
Time Value of Money Annuity
Create an appropriate (TVM) formula using the supplied values in the appropriate cell so Excel can calculate the answer.
Calculations
What is the future value of a $1,000 annuity payment over five years if interest rates are 9%?
What is the present value of a $800 annuity payment over six years if interest rates are 10%?
\table[[[Write the formula here],Answer]]
Assume you purchased a house on January 1,2020 for $200,000. You had made a down payment of 20% on the house and the balance was financed with a 30 year loan at 5% per annum stated APR with monthly payments to be made beginning January 1,2020. What are your monthly pavments?
\table[[[Write the formula here],[Answer here]]]
Judith just become eligible to participate in her company's retirement plan. Her company does not match contributions, but the plan does average an annual return of 12%. Judith is 40 and plans to work to age 65. If she contributes $200 per month, how much will she have in her retirement plan at retirement?
\table[[[Write the formula here],[Answer here]]]
How much do you have to deposit today so that exactly 10 years from now you can withdraw $10,000 a year for the next five years? Assume an interest rate of 6%.
\table[[[Write the formula here],[Answer here]]]
Question
Imagine that a friend tells you that you should not rush to pay off your mortgage early because you will lose out on the interest tax deductions you are getting. Discuss the role of amortization of mortgages in your analysis of the issue.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Developments In Entrepreneurial Finance And Technology

Authors: David B. Audretsch, Maksim Belitski, Nada Rejeb, Rosa Caiazza

1st Edition

1800884338,1800884346

More Books

Students also viewed these Finance questions