SUBJECT: Quantitative Methods for Business and Finance. Course Symbol: MAT 128

Please answer the Math Questions below. The Assignment is due in 45 minutes. Thank you so much!

D Question 6 1 pts 2 (a) Suppose you borrowed $400,000 for a home mortgage on January 1, 2010 with an annual interest rate of 3.5% per year compounded monthly. If you didn't make any payments and were only charged the interest (and no late fees), how much would you owe on the mortgage on January 1, 2030? D Question 7 2 pts 2 (b) Suppose you borrowed $400,000 for a home mortgage on January 1, 2010 with an annual interest rate of 3.5% per year compounded monthly. Also, suppose the balance on the mortgage is amortized over 20 years with equal monthly payments at the end of each month. (This means the unpaid balance on January 1, 2030 should be $0 ). (b) What are the monthly payments?D Question 10 1 pts 3. Suppose that on January 1, 2020, you buy a bond for $3,000 that will pay interest of 2.6% per year compounded continuously for 20 years. You never withdraw any of the interest earned on the bond. (a) What will the bond be worth on January 1, 2040? D Question 11 2 pts 3 (b) Suppose that on January 1, 2023, the prevailing rate of interest on bonds maturing on January 1, 2040 becomes 5% per year compounded continuously. Assume that the market value of your bond (as described in 3 (a)) becomes the present value that would yield the same amount on January 1, 2040 as your bond will give you. What will be the market value of your bond on January 1, 2023?mstate.edu/ D Question 1 1 pts 11. Suppose you were hired on January 1, 2010 and started depositing $300 at the end of each month, with the first deposit on January 31, 2010, in a pension fund that pays interest of 6% per year compounded monthly on the minimum monthly balance and credited at the end of each month. (a) How much money was in the pension fund on February 1, 2010? D Question 2 1 pts 1 (b) How much money was in the pension fund on March 1, 2010? D Question 3 1 pts 1 (c) How much money was in the pension fund on April 1, 2010?D Question 4 2 pts 1 (d) How much money will be in the pension fund on January 1, 2040? D Question 5 1 pts 1 (e) What is the total amount of interest earned in this pension fund during these 30 years?Question 8 1 pts 2 (c) How much interest was paid during the 20 years of the mortgage? D Question 9 2 pts 2 (d) What is the unpaid balance on the mortgage on January 1, 2015