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. 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?
3. 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?
4. A project has an initial cost of $10,000. This project is expected to bring in $2,611 per year for 4 years. If money can earn 2% compounded annually, what is the net present value of this project? If your NPV is less than 0, enter a negative for your answer.