1. The 2nd last balance on a loan is $281.68 and interest is 3% compounded monthly with monthly payments. What is the last payment?
2. What is the payment amount for a sinking fund of $1,580 if interest is 2% compounded semi-annually? Payments are semi-annual, made at the end of the periods, and will last for 10 years.
3. Payments are made monthly with interest of 2% compounded monthly. If there are 24 payments, what is the payment calculation for this amortization schedule based on a loan amount of $1,926?
4. A bond has a coupon rate of 1.2% (compounded semi-annually) and a yield to maturity of 1.5% (compounded semi-annually). What is the bond price for this 10-year $1000 face value bond?