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- This year is 2023. You have saved $20,000 in your savings account to buy a new home. In addition, you also plan to withdraw the maximum from your Registered Retirement Savings Account (RRSP) under the Home Buyer's Plan (HBP). What would be the minimum conventional mortgage you could assume? Select one: a. $220,000 b. $140,000 c. $175,000 d. $225,00014 - A contractor will face negative cash flow in the construction project as shown below. This is due to the late payment of monthly progress payments by the employer and the fact that the cash guarantee is kept by the employer until the end of the project. The interest on the money that the contractor will borrow to meet this negative money flow will be 2% per month. If the debt was taken without interest, how much debt would be left when the contractor pays his debts as a result of the progress payment? January -85 000 p.b. (currency unit) February -120 000 p.b. March -45 000 p.b. April -90 000 p.b. May -63 000 p.b. June -15 000 p.b. July + 295 000 p.b. August + 210 000 p.b.A) 78 000B) 85 000C) 87 000D) 0E) 90 000You borrow P3,500.00 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the money from the bank? A. P 62.44B. P44.55C. P54.66D. P37.56
- 16 - What is the total amount of interest/profit share to be paid back at the end of 4 years for a loan of 200 000 TL drawn from the bank for housing needs with a compound interest of 15% per year?A) 151 704B) 145 305C) 149 801D) 148 020E) 150 000find the solution 5. A man owes P 10,000 with interest at 6% payable semi-annually. What equal payments at the beginning of each 6 months for 8 years will discharge his debt? Answer: P 772.92Edinburgh Newcastle £000 £000Franchise fee (year 0) 8,700 7,950New buses (year 0) 4,120 3,890Scrap value (year 5) 110 95Forecast net cash inflowsYear 1 3,780 3,500Year 2 4,150 3,850Year 3 4,550 4,200Year 4 5,120 5,150Year 5 4,900 4,950 calculate the payback period for both the…
- You borrowed $10,000 from a local bank with agreement that you will pay back the loan according to a graduated payment plan. If your first payment is set as $1,500 at the end of first year, what would be the remaining payment look like at a borrowing rate of 10% over five years? (Ans. G=$628.67)To pay off $75000000 worth of new construction bonds when they come due in 25 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting three months from now. If the interest rate for the sinking fund is 6.4% compounded quarterly, how much will each deposit be?" a. 111647.29 b. 308427.99 c. 236190.88 d. 137843.63 e. 179381.318 - A contractor will face negative cash flow in the construction project as shown below. This is due to the late payment of monthly progress payments by the employer and the fact that the cash guarantee is kept by the employer until the end of the project. The interest on the money that the contractor will borrow to meet this negative money flow is 2% per month. If for the month of March 45 000 p.b. instead of 15 000 p.b. How much less would he have paid in total if he had borrowed interest-bearing? January -85 000 p.b. (currency unit) February -120 000 p.b. March -45 000 p.b. April -90 000 p.b. May -63 000 p.b. June -15 000 p.b. July + 10 000 p.b. August + 408 000 p.b.A) 29 146B) 34 750C) 38 486D) 35 186E) 33 123
- An industrial firm is considering purchasingseveral programmable controllers and automatingthe company’s manufacturing operations. It is estimated that the equipment will initially cost $120,000,and the labor to install it will cost $25,000. A servicecontract to maintain the equipment will cost $5,000per year. Trained service personnel will have to behired at an annual salary of $50,000. Also estimatedis an approximate $10,000 annual income-tax savings (cash inflow). How much will this investment inequipment and services have to increase the annualrevenues after taxes in order to break even? Theequipment is estimated to have an operating life of10 years with no salvage value because of obsolescence. The firm’s MARR is 12%The annual cost to maintain a cemetery plot is $75. If interest is 6% how much must be set asideto pay for perpetual maintenance?a. $1,150b. $1,200c. $1,250d. $1,30003.04-PR008 You deposit $10,000 in a fund that pays compound annual interest equal to 3%. One year later the interest rate changes to 4%, 2 years later the interest rate changes to 5%, and 3 years later the interest rate changes to 6%. How much will you have in the fund after 4 years if you withdrew $2,500 at the end of each of the previous 3 years?
