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- Frasier is 33 years old and just received an inheritance from his parents' estate. He wants to invest an amount of money today such that he can receive $5,000 at the end of every month for 15 years when he retires at age 65. If he can earn 9% compounded annually until age 65 and then 5% compounded annually when the fund is paying out, how much money must he invest today? show solutionThe buyer of a certain machine may pay either P2,000.00 cash down payment and P2,000.00 annually for the next 6 years, or pay P3,500.00 cash and P2,000.00 annually for the next 5 years. If money is worth 12% compounded annually, which method of payment is better?1. If you borrow money from your friend with simple interest of 12%. Find the present worth of 20,000 which is due at the end of nine months? 2. A Loan of 10,000 is made for a period of (m) months at simple interest of 20%. If the future amount is due at the end of the load period is 4,166. Determine the (m) ? 3. The investmest made by John proved most remunerative. His 1,000,000 savings doubled at 2% per 6 months after (n) years. Determine the (n) ? 4. An investors holds a time payment purchase contact on some machine tools. The contact calls for the payments of 6,800 at the end of each month a 5 years period. The 1st payment is due in one month. He offers to sell you the contact for 330,680 cash today. If you otherwise can make 1% per month on your money, would you accept or reject the investors office?
- Appledale Dairy is considering upgrading an old ice-cream maker. Moderate upgrading costs $7050 now and yields annual savings of $4800 in the first year, and decreases by $300 dollars every year after that. If the upgraded ice-cream maker will last for seven years, what is the present worth of the upgrading option? Use a present worth comparison. Appledale's MARR is 9 percent.Q19 solutio n nededA certain property is being sold and the new owner received two bids. The first bidder offered to pay P400,000 each year for 5 years, each payment is to be made at the beginning of each year. The second bidder offered to pay P240,000 first year, P360,000 the second and P540,000 each year the next 3 years, all payments will be made at the beginning of each year. If money is worth 20% compounded annually, which bid should the owner of the property accept?
- If I invest 30,556 today and expect a reimbursement every 6 months with a ROR of 0.1 compounded semi-annually for 3 years. How much will I expect to receive every June and December of every year.A contractor bought a concrete mixer at $120,000 if paid in cash. The mixer may also be purchased by installment to be paid within 5 years. If money is worth 8% compounded annually, what is the amount of each annual payments made at the end of each year if paid in installment up to the end of 5 years? Show your complete solution.Choose the best answer and provide a solution. Determine the accumulated amounts after 5 years of P1,000.00 invested at the rate of 10% compounded DAILY A. 1,628.90 B.1,645.31 C.1,648.61 D.1,610.51
- Wylie has been offered the choice of receiving $5,000 today or an agreed-upon amount in 1 year. While negotiating the future amount Wylie notes that he would be willing to take no less than $5,700 if he has to wait a year. What is his TVOM in percent?You decide to open a retirement account at your local bank that pays 8%/year/month (8% per year compounded monthly). For the next 20 years you will deposit $400 per month into the account, with all deposits and withdrawals occurring at the end of the month. On the day of the last deposit, you will retire. Your expenses during the first year of retirement will be covered by your company’s retirement plan. As such, your first withdrawal from your retirement account will occur on the day exactly 12 months after the last deposit. a. What monthly withdrawal can you make if you want the account to last 15 years? b. What monthly withdrawal can you make if you want the account to last forever (with infinite withdrawals) ?Show complete solution: John got a deal to lend $60,000 today and in return, he will receive twenty-five annual payments of $6,000 each. The annuity will start five years from now and the effective rate of interest will be 6%. Determine whether the deal is a feasible one for John if the payment is ordinary annuity and annuity due.