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Unknown problem no. 7 You are so lucky that you have won on a scratch off lottery ticket the equivalent of an extra monthly salary
Unknown problem no. 7 You are so lucky that you have won on a scratch off lottery ticket the equivalent of an extra monthly salary of DKK 25,000 each month for the next 8 years. The first additional monthly salary is paid in exactly one month. The discount rate calculated annually is 2%. In which interval is given the Present Value of your win (in DKK million)? (Hint: Start calculating the discount rate calculated monthly) A. [0.4; 0.6] B. 10.0;0.3] *C. 12.1; 2.3] D. 11.5; 1.6) E. [1.7; 1.8] F. (1,9; 2,0) Unknown problem no. 8 Ole's parents set up a savings account for Ole when he was born. In the first 18 years (starting one month after Ole's birth), the parents paid DKK 150 in to the account at the end of each month. After 18 years, the parents stopped the payments, leaving the balance to draw interest for another 3 years. The interest on the account is 2,15% p.a. throughout the period. In which interval is given the balance of the account (in DKK 1,000) when Ole turns 21? (Hint: Start calculating the interest calculated monthly and then calculate the balance of the account when Ole turns 18). A. B. C. D. *E. F. [36; 38] 131 ; 33] 139; 401 229; 31) [42; 43] [26; 28]
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