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QUESTION 4 Debts of $32,645 due 2 years ago and $43,748 due in 14 months from today are to be replaced with a payment of
QUESTION 4
- Debts of $32,645 due 2 years ago and $43,748 due in 14 months from today are to be replaced with a payment of $50,750 in three months from toady and the remaining amount in 9 months from today. Determine the size of the unknown payment needed to clear the debts if money is worth 6.3% compounded quarterly. Use 9 months from today as a focal date and draw a timeline if needed.
10 points
QUESTION 5
- How much will you need to invest today to accumulate $625,000 in 20 years if the account pays 5.1% compounded semi-annually?
5 points
QUESTION 6
- How many years will it take for $50,100 to accumulate to $99,380.42 in an accountant that is paying 8.1% compounded quarterly? (round years to 2 decimal places)
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